Allied World U.S. Launches Upgraded Executive ForceField®; Directors and Officers Liability Coverage
October 10, 2013 at 10:00 AM EDT
Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today that Allied World U.S. has launched a new version of its Executive ForceField® product; a policy specifically developed to address coverage gaps for directors and officers of publicly traded companies. This upgraded Side ‘A’ Directors & Officers Excess and Lead Difference-in-Conditions (DIC) insurance policy provides broad ‘Side A’ coverage for non-indemnified loss and is available on both an excess and ‘difference-in-conditions’ basis. Coverage is available worldwide with limits of up to $25 million. The newly refreshed Executive ForceField further complements Independent ForceField℠, a new independent directors liability product that provides protection for directors’ personal assets when all other sources of recovery have been exhausted or otherwise impaired, which Allied World U.S. launched on September 26, 2013.
Thomas Kennedy, Senior Vice President, Professional Lines, Allied World U.S. commented, “Executive management teams and corporate board members continue to face a multitude of risks in today’s regulatory and legal environment. In tandem with our trading partners, we continue to enhance and upgrade our products to meet the ever-evolving needs of our insureds. This upgraded Side ‘A’ DIC policy drops down with follow form coverage that builds off of the extensively negotiated primary coverage – reducing gaps and inconsistencies and providing protection for directors’ and officers’ personal assets. It also further supports the portable limit of liability feature of our recently launched Independent ForceField℠.”
For more information on Executive ForceField, please contact Brian Casey, Vice President, Professional Liability at (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
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.
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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.