ZUG, Switzerland--(BUSINESS WIRE)--Allied World Assurance Company Holdings, AG announced today that Allied World North America has introduced an enhanced Professional Risk-Transfer Organization (“PRO”) Professional Liability product. This product offers greater flexibility and a more responsive design, enabling clients to select and use only the coverages they need by choosing from a comprehensive array of E&O, D&O, EPL and Privacy and Network Security protection.
The revised product also includes an expanded and more robust Privacy and Network Security (SRVS) coverage option where insureds can purchase up to $1 million in additional limits and notification/monitoring costs for up to 75,000 individuals without having to buy an additional policy. Coverage enhancements (available either as a sub-limit or up to the full policy limit) also include Governmental Claims Coverage for E&O, Non-rescindable Side A coverage and Derivative Demand Coverage for D&O claims and Third-Party EPL Coverage.
“We have been consistently dedicated to our insurance company clients for many years. This improved product offers our clients the flexibility that they have been looking for to customize their professional lines coverage to meet their specific needs,” commented Al Fantuzzi, Senior Vice President of North American E&O Division at Allied World.
“The legal landscape is constantly evolving and insurance companies are looking for comprehensive options to protect themselves against bad faith litigation and claims against their directors and officers. This product provides wide-ranging protection and choice,” said Joyce Duarte, Vice President, E&O Division at Allied World.
For more information please contact: Joyce Duarte, Vice President, E&O Division – email@example.com.
About Allied World
Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers superior client service through a global network of offices and branches. All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and our Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and AA- by Fitch.
Cautionary Statement Regarding Forward-Looking Statements
Any forward-looking statements made in this press release reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, our forward-looking statements could be affected by pricing and policy term trends; increased competition; the adequacy of our loss reserves; negative rating agency actions; greater frequency or severity of unpredictable catastrophic events; the impact of acts of terrorism and acts of war; the company or its subsidiaries becoming subject to significant income taxes in the United States or elsewhere; changes in regulations or tax laws; changes in the availability, cost or quality of reinsurance or retrocessional coverage; adverse general economic conditions; and judicial, legislative, political and other governmental developments, as well as management's response to these factors, and other factors identified in our filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We are under no obligation (and expressly disclaim any such obligation) to update or revise any forward-looking statement that may be made from time to time, whether as a result of new information, future developments or otherwise.