Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today that Allied World’s Asia-Pacific platform has launched Allied World Agility SM Primary Professional Indemnity, a new product developed exclusively for the Asia-Pacific marketplace. This new primary product provides comprehensive protection for professionals, incorporating an added function that allows insureds to aggregate losses when they have a significant number of small claims within a policy period.
Ed Moresco, Senior Vice President, Bermuda & International Product Line Manager, Professional Liability, commented, “Since commencing operations in Asia we have been committed to product innovation. The new professional liability product delivers substantive structural policy enhancements that will benefit our partners and clients. We believe the new product will provide customers with comprehensive primary professional indemnity coverage for commercial risks.”
Ben Howell, Vice President, Head of Professional Lines, Asia-Pacific, added, “Existing market professional liability policies are effective in responding to claims above a deductible threshold. However, they fail to recognise that commercial businesses may be equally impacted when smaller attritional losses reach an exceptional or abnormal level in a given year. This new product provides protection against larger claims and also responds to significant losses from multiple smaller claims.”
For more information on Allied World’s Agility SM Primary Professional Indemnity coverage, please contact Ben Howell at Ben.Howell@awac.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.