Allied World U.S. Launches Independent ForceField℠; New Directors Liability Insurance
September 26, 2013 at 10:30 AM EDT
Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today that Allied World U.S. has launched Independent ForceField℠, a new independent directors liability product that provides comprehensive protection for directors’ personal assets when all other sources of recovery have been exhausted or otherwise impaired. The latest in the ForceField product suite, Independent ForceField provides tailored protection against claims arising from any actual or alleged breach of fiduciary duty or other wrongful acts. Coverage is available worldwide on both an excess and ‘difference-in-conditions’ basis.
Thomas Kennedy, Senior Vice President, Professional Lines, Allied World U.S. commented, "Executive management teams are more than ever exposed to lawsuits and claims. As public scrutiny and SEC investigations of directors and officers increase, the risk of insufficient or depleted limits for independent directors continues to grow. With a limit of portable liability and a broad definition of ‘wrongful act’ and a ‘loss’, Independent ForceField, addresses the multitude of risks that independent directors face today.”
For more information on this program, please contact Brian Casey, Vice President, Professional Liability (646) 794-0517 or firstname.lastname@example.org or Michael Piccione, Vice President, Professional Liability at (646) 794-0515 or email@example.com.
About Allied World Assurance Company
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 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 impact of acts of terrorism and acts of war; greater frequency or severity of unpredictable catastrophic events; negative rating agency actions; the adequacy of our loss reserves; 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.