This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

XL Group Introduces Up+Running, Equipment Breakdown Insurance; Adds Underwriting And Engineering Expertise To Meet Demand

Stocks in this article: XL

CHICAGO, Sept. 5, 2013 /PRNewswire/ -- To keep businesses' equipment and operations running smoothly, XL Group's North America Property group has developed an enhanced Equipment Breakdown Insurance Policy, called Up+Running , and is adding new members to the equipment breakdown team.

"Most of us don't conduct every aspect of our business with our bare hands," says Brian Strain, Senior Vice President and Head of Equipment Breakdown business for XL Group, "We rely on equipment to communicate, transact, produce and deliver. Large manufacturing companies have sophisticated and expensive equipment they rely on to produce products. Smaller non-manufacturing businesses are vulnerable to losses resulting from the breakdown of anything from heating, air conditioning, and computers to basic electrical service."

Up+Running coverage provides protection against financial losses that result from the breakdown of equipment and result in business interruption, equipment repair, or replacement costs.  Available coverage enhancements include protection against extra expenses and perishable goods loss due to spoilage or refrigerant damage.  Risk control and equipment inspection services including maintenance and reliability assessments, infrared inspections, oil analysis, vibration monitoring, ultrasound inspections and other custom designed inspection and safety programs are available to clients as well.

To meet clients' increased demand for equipment breakdown protection, XL Group has enlisted Christopher Lee, as Vice President, Product Underwriting who joins from Zurich Insurance where he managed a profitable book of equipment breakdown business throughout the Northeast.  XL also gains more than 30 years of engineering experience with the addition of Tom Gallagher as Engineering Leader.  Tom will provide guidance to improve clients' critical equipment reliability and design engineering service plans to meet customers' needs.

"Whatever the size, when equipment fails, a business can find itself at a standstill. Operations are interrupted and hefty repair costs are a real possibility," said Mr. Strain. "Our coverage provides the financial resources an insured needs to identify and quantify a claim and return equipment and business to an operational status. Also, to minimize the possibility unplanned outages, we work with our clients to increase the reliability of their equipment."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs