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Advisen Front Page News - New Products for Period Ending December 5, 2011

Posted on Dec 07, 2011

Advisen

22 NPAs: How do you stay current on new commercial insurance product offerings and services globally? This edition of Advisen’s New Product Announcements contains details from ACE; Catlin & China Re; Global Aerospace and ICF SH&E; Grundy Worldwide; Hiscox; Ironshore; Markel; Navigators; Petersen International; Philadelphia; RiskMeter; RIMS; Rose & Kiernan; Schinnerer; Swiss Re; Travelers; XL; and Zurich.

HOW TO SUBMIT NPA CONTENT

NPA content is global. Submit details about your new product or service viahttp://corner.advisen.com/NPA.shtml or send material to editors@advisen.com and note that the next NPA deadline is day 28 of the month.

STATE OF THE P&C JOB MARKET / Weds Dec 7 @ 2pm EST

Where are the P&C jobs? Which P&C career paths are hot right now? On Weds Dec 7, Advisen joins with St. John's University School of Risk Management to present the "State of the P&C Job Market." This event is sponsored by Aon, Smith Hanley, Starr Companies, Hylant Group, and Marsh.

SPEAKERS

Mario Vitale, Aspen US President (keynote address)

PANELISTS

Debra Kestenbaum, VP Talent Acquisition, Chubb
Steve Keogh, VP and Head of Human Resources for Aon Risk Services
Andy Davis, Managing Director, Smith Hanley Executive Recruiters
Jody Queen-Hubert, Director, Ellen Thrower Career Center at St. John’s
Jeff Cohen, Advisen (moderator)

Attend in person at St. John’s or watch our live webcast. There is no charge to attend or watch. Register via: http://corner.advisen.com/advisen_conference.html

Lowering Claims via Predictive Modeling Webinar Weds Dec 14 at 11am EST

Tools based on predictive modeling are transforming Claims Management. In Workers’ Comp, Auto Liability, GL, and Medical Professional Liability, predictive modeling enables insurers to identify problem claims and quickly allocate the most effective resources. This expert panel will discuss the far-reaching applications and the benefits to insureds. This free, one-hour webinar and the associated paper are sponsored by Zurich.

22 NPAs

ACE Launches Multinational Practice in Continental Europe: ACE has created a new practice designed to meet the needs of multinational companies that are based or operating in Continental European countries. The new unit will be led by Rémy Massol, who has been appointed Multinational Director for Continental Europe. In addition, Clive Hassett, Director of Multinational Services for ACE UK & Ireland, will broaden the scope of his responsibilities to include Continental Europe. In collaboration with Massol, he will ensure that ACE's multinational capabilities are enhanced and supported effectively in the Continent. “The creation of this practice will enable us to raise the standard of service and performance for multinational companies operating in Continental Europe,” said Joe Clabby, Regional President, ACE Continental Europe. “It will leverage all of the capabilities of our ACE GPS SM platform – local operations and network partners, broad product array, award-winning ACE Worldview SM information portal, legal and regulatory expertise and client executives – to develop customised insurance programmes for multinational clients in the region." Rémy Massol joins ACE with considerable experience of captive fronting and multinational programmes, having previously worked for 17 years with a major global insurer in Brussels, New York and most recently Paris, where he was managing the captive fronting division for Continental Europe. Clive Hassett joined ACE in 1999. A qualified accountant, he has held a number of financial and operational management roles within ACE in London. Over the last four years has led the Multinational Service Unit for ACE UK & Ireland, which has supported significant growth in ACE’s multinational book of business in these markets. Contact Valerie Gagnerot at 0207.173.7585 or valerie.gagnerot@acegroup.com

Catlin, China Re Announces Strategic Partnership: Catlin has formed a strategic partnership with China Reinsurance Corporation that will result in the establishment of a special purpose syndicate at Lloyd’s of London. Subject to final approval by Lloyd’s, China Re will provide the capital for Syndicate 2088, which will be managed by Catlin Underwriting Agencies Limited. Syndicate 2088, which will begin underwriting with effect from 1 January 2012, will underwrite a whole-account quota-share reinsurance of the Catlin Syndicate (Syndicate 2003). Since 2007 the Catlin Syndicate – which is also managed by CUAL – has been the largest syndicate in the Lloyd’s market based on gross premiums written. The formation of Syndicate 2088 marks the first time that a company based in China has directly invested in a syndicate at Lloyd’s. Syndicate 2088 will have a stamp capacity of approximately £50 million for 2012. China Re’s participation in Syndicate 2088 will allow it to diversify its underwriting portfolio by reinsuring business underwritten at Lloyd’s to which it would have limited access through its existing operations. The partnership with CUAL, the largest managing agency at Lloyd’s, will also allow China Re to expand its knowledge of how international insurance and reinsurance is underwritten in the Lloyd’s market. As part of the partnership, China Re employees will be seconded to CUAL to gain first-hand experience working in the Lloyd’s market. The quota-share reinsurance underwritten by Syndicate 2088 will allow Catlin to increase premium volume in 2012 – at a time when rates are expected to rise for certain classes of business – without seeking additional capital from existing shareholders. Contact James Burcke at 0207.458.5710 or james.burcke@catlin.com

Global Aerospace and ICF SH&E Announce Strategic Safety Partnership: Global Aerospace has formed a strategic partnership with ICF SH&E as part of a planned expansion to the SM4 program. Global Aerospace created, developed and fully sponsors the SM4 program. It is a clearing house for aviation safety resources and is a focal point for safety communication and synergy. Dedicated to reducing aviation related mishaps, the SM4 program focuses on the four essential aspects of a proactive safety culture: PLANNING, PREVENTION, RESPONSE and RECOVERY. SM4 program expertise is provided by internationally recognized SM4 safety partners. Convergent Performance, LLC supports SM4 Human Factors initiatives; Baldwin Aviation supports SM4 Safety Systems initiatives; Fireside Partners, LLC supports SM4 Emergency Response and Recovery initiatives. ICF SH&E will now support safety, security and regulatory compliance initiatives for commercial operators. Jeffrey Bruno, Chief Underwriting Officer at Global Aerospace said, “We always planned to evolve the SM4 program and the interest and feedback we have received has exceeded our wildest expectations. Our partnership with ICF SH&E not only refreshes and improves what is already the aviation industry’s leading safety program, it significantly expands our suite of safety products. We think the addition of ICF SH&E will be of particular interest to airlines, large commercial general aviation operators, airports, and product manufacturers.” Lou Sorrentino, ICF SH&E Vice President for Safety, Security and Regulatory Compliance said, “We’re pleased to join SM4. The opportunity to interact constructively with the partners as we work toward a common goal is most welcome.” Contact Suzanne Keneally at 973.490.8588 or skeneally@global-aero.com

Grundy Worldwide Offers New Online Services for Collector Vehicles: Grundy Worldwide, a division of Philadelphia Insurance, has started the engine on a new Collector Vehicle Program website that features online quoting. Online quoting is one of several new tools at http://www.grundyworldwide.com to help keep customers behind the wheel and deliver the same classic service that they have come to expect. The new website puts vehicle owners and their insurance agents in the fast lane to obtain quotes, file claims, pay bills, print policy and ID cards, and access applications. Grundy Worldwide offers specialized Automobile Liability and Physical Damage insurance for over 119 antique and collector car makes in all 50 states. “We understand that Antique and Collector Cars are for genuine car enthusiasts and with that comes a need for reliable car insurance coverage,” said Brent Skiles, Assistant Vice President of the Grundy Worldwide Division. “Our Antique and Collector Car insurance coverage includes enhancements to the standard auto policy such as Agreed Value, Inflation Guard, and Auto Show Medical Reimbursement to meet the unique exposures associated with the Antique and Collector Car industry.” Customers have the ability to choose their own repair shop and face no mileage limitations. Contact Bill Procopio at 610.538.2260 or bprocopio@phlyins.com

Hiscox Partners with TechInsurance to Provide Insurance Coverage to Small IT Services Businesses: Hiscox announces a partnership with TechInsurance to meet the needs of their small IT services customers. IT services businesses visiting http://www.TechInsurance.com for insurance coverage can now get access to quotes from Hiscox, tailored to the specific needs of their business. Designed specifically for the small business and home-office markets, Hiscox small business professional liability insurance coverage (errors and omissions insurance) is customized for a range of knowledge-based professions including IT services, public relations, human resources, management consulting, business consulting and marketing. "TechInsurance has been serving small IT businesses in the US for many years and we're excited to be able to expand the distribution footprint of our unique small business products with such an experienced and respected partner," said Kevin Kerridge, small business insurance expert from Hiscox. "Hiscox has a history of expertise serving the insurance needs of IT businesses, and TechInsurance will help more of these customers get insurance coverage tailored to their specific needs." The partnership with TechInsurance is an extension of Hiscox's direct business, which offers professional liability insurance quotes direct and online in real-time along with other liability insurance products such as general liability insurance. "TechInsurance has worked since 1997 to help IT service firms get the insurance coverage they need to protect them," said TechInsurance CEO Jim Cochran. "We're happy to add Hiscox, with their specialty in small business insurance, to the list of partners available to our customers." Contact Hunter Hoffmann at 646.442.8341 orhunter.hoffmann@hiscox.com

Ironhealth Offers a New Medical Professional Liablility Program for Qualified Health Centers: IronHealth, the healthcare unit of Ironshore, is offering medical professional liability coverage for federally qualified health centers to provide protection for deemed and non-deemed healthcare services, as well as other coverage enhancements. IronHealth’s Health Qualified Center Medical Professional Liability product is a wrap-around policy to protect against potential liability risk exposures for medical facilities that treat low- to moderate- income patients. The Affordable Healthcare Act funds the development of community health centers to provide quality, primary medical services to low income, Medicaid and uninsured patients through Section 330 of the Public Health Service Act. Community health centers undergo an annual application process to be federally qualified to receive grant monies to provide “deemed” medical services, such as wellness examinations, primary healthcare treatment, physicals, and obstetrical support, among others. Qualified health centers and their employees are protected against medical malpractice actions under the Federal Tort Claims Act (FTCA) when offering approved, or deemed services. In 2010, over 8,000 qualified health centers served 19.5 million patients, of which 93 percent live below the poverty level. “Healthcare reform initiatives will provide funding for new community health centers, so we expect this segment of the market to grow considerably,” said Matt Dolan, President of IronHealth. The Health Qualified Center Medical Professional Liability product provides protection against general liability exposures, as well as any new medical services or activities offered by the institution, since its deeming application was approved. Private insurance is required to protect the institution against new medical services excluded from protection under the federal statute. Professional and General Liability coverages are available for deemed and non-deemed medical services for primary and excess limits. Separate policy limits can be underwritten for employed medical practitioners, volunteers and part-time dentists, with $25,000 sub-limit coverage available for Personal Injury Protection Reimbursement. Contact Gaye Torrance at 212.691.5810 or lgtorrance@torranceco.com

Ironshore Australia Announces Merger & Acquisition Products: Ironshore Australia has established its Merger & Acquisition suite of products. Ironshore Australia’s M&A insurance products include Buyer, Seller, Tax and Environmental warranties coverage. Ironshore Australia is structured to leverage Ironshore’s global expertise, and will provide M&A coverage throughout the Asia Pacific region. These products are in response to increased market demand for unique M&A solutions in this dynamic part of the world. Ironshore Australia will be collaborating with regional law firms, accounting & consulting companies, private equity, financial institutions, along with small business owners, and will provide select brokers with these products to address their diverse client base. “The Asia Pacific region has been extremely active on the M&A front over the past few years and this activity is expected to continue. Australia is uniquely situated to capitalise on the above average growth prospects throughout the region through their world class financial and legal services industry,” said David Rogers, Managing Director of Ironshore Australia. In addition to M&A product lines, Ironshore Australia provides coverage for Professional Lines, Political Risk & Trade Credit, Global Property and Environmental products. Contact David Rogers at 039.935.2824 or david.rogers@ironshore.com

Markel Announces DataBreach for Allied Medical: Markel announces the launch of a new coverage enhancement for healthcare providers. A DataBreach endorsement can now be added to Markel’s allied healthcare policies at no cost. This endorsement provides coverage for liability resulting from a compromise of confidential patient information and costs incurred by the insured for notification expenses, credit monitoring, and data restoration with limits up to $50,000. Markel’s reputation as a carrier with a stable history in both healthcare and data security, claimshandling by a team dedicated to allied healthcare entities and data privacy, and the coverage at no additional cost are just a few of this offering’s top selling points. Additionally, if the insured decides to purchase more DataBreach coverage in the future, the transition to a standalone policy is an easy one. “We will honor the retro date if the insured takes a year or two before deciding to purchase a monoline policy after purchase of the endorsement. We’re offering solid coverage at low limits and are excited to bring this option to the marketplace,” said Jake Kouns, director of cyber security and technology risks underwriting for Markel. “With the addition of DataBreach, we round out the liability protection provided by our allied medical policy,” said Markel managing director of medical underwriting Fran O’Connell. “Our coverage has always offered protection to patients for mental or emotional distress caused by a violation of their right to professional confidence. Now we can take it a step further by including unauthorized access to patient data as a result of hacking, lost back-up tapes, or a simple failure to shred documents.” Contact Fran O’Connell at 847.572.6118 or foconnell@markelcorp.com

Navigators Pro Expands D&O Offerings: Navigators Pro, the Management & Professional Liability insurance division of its principal underwriting agency subsidiary, Navigators Management Company, introduces two Side A Excess Directors & Officers (D&O) products: the Broad Form Director InNAVation(sm) Policy and Lead A-Side Excess D&O InNAVation(sm) Policy with Difference-in-Conditions (DIC) insurance coverage. Both products are written on an admitted basis in the US through Navigators Insurance Company, which is rated "A" (Excellent) by A.M. Best and "A" (Strong) by Standard and Poor's. Navigators D&O products are also available for international corporations through Navigators Syndicate 1221 at Lloyd's of London. Lloyd's is rated "A" (Excellent) by A.M. Best and "A+" (Strong) by Standard & Poor's. "Navigators Pro is celebrating ten years in the professional liability marketplace this month and we're looking forward to our next ten years with more innovative insurance solutions," says Scott Misson, President of the Global Management Liability division. "We pride ourselves on listening to the brokerage community and catering to their needs. The crisis in financial market confidence has resulted in extreme equity capital market volatility, driving an increase in securities class action lawsuits. With directors and officers exposed to a heightened risk for non-indemnifiable exposures when the company is financially insolvent or legally not permitted to indemnify, we know brokers want to have more options to present to their clients. In response, we are introducing not just a Broad Form A-Side policy but also an A-Side DIC policy. We are well-positioned to provide insurance solutions offered by a high-quality insurer and we're pleased to expand our Management Liability offerings on the occasion of our ten-year anniversary." Contact Scott Misson at 212.613.4214 or smisson@navg.com

Petersen International Underwriters Forms Group & Multi-Life Guaranteed Issue Underwriting Department: Petersen International Underwriters has formed a Group & Multi-Life Guaranteed Issue Underwriting Department which handles the issuance of the firm’s High-Limit Group Disability, Life, Accidental Death and Medical Insurance policies. The firm has been writing group and multi-life insurance policies with guaranteed issue for many years, and the foundation of this new department will allow for market growth of this expanding section of business for PIU. “With dedicated staff to handle the intricacies of Group, Multi-Life and Guaranteed Issue Insurance Plans, we will be able to administer this increasingly valuable business even more efficiently,” states Kurt Petersen, Underwriter at Petersen International Underwriters. Petersen International has group and multi-life plans placed with numerous large associations and businesses, but also with many smaller groups. The firm’s plans are especially useful to groups or employers needing supplemental, higher-limit coverage, as well as international organizations and enterprises doing business abroad. Contact Thomas Petersen at 661.254-0006 or thomas@piu.org

Philadelphia Insurance Launches New Coverage for Gun Stores, Gunsmiths: Philadelphia Insurance launched its newest insurance product for retail gun stores and gunsmithing. The Retail Gun Store product is designed to meet the unique needs of the ever expanding outdoor recreational industry. “Adding Retail Gun Stores and Gunsmithing to PHLY’s product lineup is a natural and exciting progression in the evolution of our Outdoor Program,” commented AVP Brent Skiles. “Retailers and gunsmiths will find PHLY offers a one-stop shop to fulfill property, auto, crime, professional liability and general liability insurance needs.” The coverage enhancements provide a broad array of protection specific to retail gun store exposures including gunsmithing (repairing, modifying of fire arms), shooting ranges, firearm instructors, personal property of others and property off premises. Policyholders are also entitled to discounted background checks for employees through PHLY’s Loss Control Program. Contact Bill Procopio at 610.538.2260 or bprocopio@phlyins.com

RiskMeter.com - CDS Business Mapping Adds New Straight Line Wind Report: CDS Business Mapping announces the addition of a new Straight Line Wind Report to its RiskMeter.com service. Straight line winds (also known as thundergusts or hurricanes of the prairie) are produced by the downward momentum in the downdraft region of thunderstorms. These events have been known to produce winds that reach 100 mph or more and can cause damage equivalent to a tornado. RiskMeter’s Straight Line Wind Report gauges the potential for damage to any location in the Continental US and is based on National Climatic Data Center data. By simply typing in an address, users can get the frequency of straight line wind events, percentile score which compares the address entered to the rest of the US, average number of straight line wind events for an area and a straight line wind risk score. “Severe thunderstorms (Hail, Tornadoes and Straight Line Winds) cause billions of dollars in insurance losses each year, said Daniel Munson, Founder, RiskMeter Online. “The addition of a Straight Line Wind Report to our service means users can leverage this with our existing Hail & Tornado reports to gain a much clearer picture of severe thunderstorm risk, enabling them to assess and price risk more accurately. Contact Daniel Munson at 617.737.4444 or dmunson@cdsys.com

The 2011 RIMS Benchmark Survey Book Adds Value to Fall Renewals: How do you track premiums, limits and retentions? What about Total Cost of Risk? How Much Do You Pay Your Broker and Why? Order the 2011 edition of the RIMS Benchmark Survey at www.RIMS.org/book. Data contributors always receive the book for free; RIMS members who do not contribute data pay $550 and non-RIMS members who are non-data contributors pay $850.

Rose & Kiernan Completes First Private Transfer of Self-Insured’s Workers’ Compensation Loss: Rose & Kiernan announces the successful completion of the state’s first private placement of a New York Assumption of Loss Policy (ALP), for an individually qualified, New York self-insured; the predecessor firm of one of the region’s paper producers. The ALP, which was first approved in New York in December of 2010, allows qualified individual and group self-insureds to transfer outstanding workers’ compensation liabilities to approved insurance companies or the New York State Insurance Fund. Commenting on the transaction, Lloyd Jones, CPA, CFE, - Vice President of Finance for Pruyn & Company, Inc., said, “Rose & Kiernan has been working with us on this project for over a year. Their knowledge of the issues, counsel, and stewardship during the process has allowed Pruyn & Company to transfer liabilities which spanned a thirteen year period. The placement of the ALP has allowed us to completely convey our obligations for claims and future assessments while ensuring our former employees continue to receive the full, uninterrupted statutory benefits to which they’re entitled.” He added, “Rose & Kiernan’s expertise allowed Pruyn & Company to bring to a close a very significant matter for our shareholders.” Consulting and brokerage on the transaction were provided by two of Rose & Kiernan’s senior executives, Senior Vice Presidents, David Fazioli and Sean Hickey. Contact David Fazioli at 518.244.4313 or dfazioli@rkinsurance.com

Schinnerer Upgrades General Liability Policy for Architects, Engineers and Surveyors: Victor O. Schinnerer makes significant upgrades to its general liability policy for architects, engineers and surveyors. “We’ve ramped up our general liability policy to address the needs and wants of our policyholders,” said Corrine Nunley, Vice President and manager of Schinnerer’s property & casualty program for design professionals. “With over two dozen enhancements we’re giving our design professional clients a superior insurance product tailored to their unique, changing industry.” The numerous enhancements – offered by endorsement – broaden coverage in many areas of the policy. A few of the most significant enhancements include: (1) Aggregate limits per project and aggregate per location apply the general aggregate limit separately to each project and location. (2) Includes nine miscellaneous additional insured categories such as state or political subdivisions, lessors of leased equipment, managers or lessors of the premises, mortgagees, and many other entities (3) Contractual coverage for railroads covers contractual liability for operations performed within 50 feet of railroad property and (4) Blanket waiver of subrogation waives right of recover if the insured has waived such right in writing prior to loss. Schinnerer’s general liability policy is admitted and available in all 48 contiguous states. Policies are distributed through licensed, independent insurance agents and brokers. Schinnerer offers professional liability, property & casualty and management liability insurance to a wide range of architects, engineers, construction managers, construction consultants and environmental consultants. The coverage is provided by ‘A’ rated insurance carrier, CNA. Most policies offered are admitted and available in all states, D.C., Puerto Rico and the U.S. Virgin Islands. Contact Starr Crusenberry at 301.951.6904 or starr.n.crusenberry@schinnerer.com

Swiss Re Launches Primary Non-admitted Product: Swiss Re Corporate Solutions has announced the launch of its primary Non-admitted Professional Liability product for US-based law firms. The new primary Non-admitted Lawyers Professional Liability (LPL) coverage, which is geared toward law firms with 1-150 employees, complements its highly regarded primary LPL product, which has been available for more than 35 years. "This expansion underscores Swiss Re Corporate Solutions' commitment to being at the forefront of the LPL market," said Milind Pandya, Head of US Small/Midsize Lawyers Professional Liability at Swiss Re Corporate Solutions. "Our new Non-admitted policy offers a solution for the hard-to-place "non-standard" risks. It also provides the ability to customize coverage to larger firms that often seek this flexibility. With an enlarged suite of LPL products, we increase the coverage options for our brokers and clients.” The new product enables Swiss Re Corporate Solutions to offer a wider array of solutions to meet the diverse and varied needs of law firms. Both clients and brokers will benefit from the availability of this alternate product with up to USD15 million in limits. The product is available in all US states and is designed to complement the entire suite of Lawyers Professional Liability products offered by Swiss Re Corporate Solutions, which now will include primary Admitted, primary Non-admitted and Excess. Contact Kate Dillon at 203.254.1300 x115 or kdillon@cjpcom.com

Travelers Forms Dedicated Clean Energy & Technology Practice: Travelers has announced the formation of its Clean Energy & Technology Practice. This new Practice creates a streamlined source of clean energy and technology-focused insurance products, and risk and claim management resources. "With Travelers' long experience working closely with clean energy and technology businesses, and as these businesses continue to grow and expand, the Clean Energy & Technology Practice makes it easier for independent agents and brokers to access the breadth and depth of Travelers' products and services," said Joe Tracy, President, Travelers Inland Marine. "The Clean Energy & Technology Practice offers rounded total account solutions. Through a single touch point, customers experience a streamlined process that provides access to a broad spectrum of insurance products and risk management services." The Practice brings together all of Travelers' existing clean energy and technology practice areas, providing customers, including wind and solar manufacturers, contractors, power producers, owners and developers, smart grid, fuel cell development, alternative and other energy efficient solutions, with industry-specific insurance protection. The Travelers Clean Energy & Technology Practice has extensive capabilities and interest in supporting U.S. entities and their international exposures that focus on technologies that are energy efficient or environmentally friendly. Interest and demand for clean energy and technology is increasing dramatically in the US and across the globe. Contact Jennifer Bagdade at 651.310.2883 or jbagdade@travelers.com

XL Establishes Inland Marine Field Operations with Appointments in New York, Atlanta and Cleveland: To put its marine insurance expertise closer to their clients, agents and brokers, the Marine insurance unit at XL Group plc (XL) (NYSE: XL) has announced additional Underwriting appointments further establishing its inland marine field operation. XL’s new Inland Marine Field team includes Michael Perrotti, Senior Vice President, Marine Field Operations based in Cleveland, Ken Mueller, Regional Vice President in Atlanta, and Ryan Faris, Marine Underwriter in New York. According to Richard DeSimone, President of XL’s US Ocean and Inland Marine unit, “New York, Cleveland and Atlanta are key trading hubs. With these appointments, we’re putting our inland marine underwriting expertise out in our key markets and in closer proximity to our clients. Now, brokers and businesses in these regions have direct access to XL’s local underwriting expertise which can also tap into our global insurance network as they need it.” Contact Christine Weirsky at 610.968.9395 or christine.weirsky@xlgroup.com

XL Insurance Bermuda Launches a New Complex Situational Insurance Department: XL Insurance (Bermuda) Ltd (XLIB) announced that it has created a new department within its Professional Lines unit to handle unique, complex insurance risks. The department, CSI-Complex Situational Insurance, will be led by former XLIB Professional Lines Chief Underwriting Officer, James Loder. It will focus on the creation of novel solutions for complex and “one off” non-traditional insurance risks as well as transactional and contingent liability exposures. In his new role as Chief Underwriting Officer/Senior Vice President of CSI, Mr. Loder’s responsibilities will include development of a portfolio of unique risk products which fall outside the mainstream insurance marketplace, development and implementation of new or modified underwriting strategies, and leading a team in the management of high-performance specialists comprised of underwriters, analysts, chartered accountants, attorneys and other professionals. Mr. Loder's career in the insurance industry spans over 25 years. He joined XLIB as Vice President of Underwriting, Professional Lines, in September 1999. Chief Executive of XL’s Global Professional Insurance operations, Bernard Horovitz, said: “XL Insurance’s Professional Lines business is well known for its creative, entrepreneurial spirit. This is another example of the talent and innovation that we provide to address existing and emerging risks facing our clients.” Patrick Tannock, XLIB President, said: “Since inception, the Bermuda market has had a reputation for being an incubator for solutions to complex risk. This new department will not only serve as a center of excellence for XLIB but we anticipate that it will also serve to enhance the broader Bermuda market as we work to address the ever evolving needs of our corporate clients. With Jim’s technical underwriting knowledge and vast experience, I have every confidence that this department will be beneficial to XLIB and Bermuda.” Contact David Radulski at 441.294.7460

XL’s Surety Group Guards Financial Investments in Public/Private Partnership Projects with BuildSecure: To support the timely completion of Public/Private Partnership infrastructure projects, the Insurance segment of XL Group plc (XL) (NYSE: XL) has unveiled BuildSecure, performance guarantee assistance for the finance community, available from XL’s Surety group. According to David Hewett, President of XL’s Surety group, "Today’s much needed infrastructure projects are delivered by unique partnerships with public entities working with private businesses determined to get not only the job done, but create a revenue-producing opportunity. While sureties typically protect the public sector from contractor performance issues, this new approach extends that bond protection to the financial community.” “Any construction project runs the risk of experiencing delays, but delays can be significantly costly and hinder or delay the revenue streams needed to recover the costs of these projects,” said Mr. Hewett. “BuildSecure, delivered with the help of a team of risk management, legal and financial analysts, provides institutions that are financing these projects with performance bond protection and assures a quick payback to minimize financial losses that result from construction delays. As a result of lessons learned in the global financial crisis, financial institutions have considerably stepped up their risk management practices with a new application of a tried and true surety approach.” Due to the complex nature of Public Private Partnership projects (3P), each project is individually reviewed by XL’s underwriting team to effectively design a BuildSecure strategy appropriate to the project. BuildSecure bonds are available for as little as 10-20% of the 3P project’s contract, with limits of liability up to $250 million. In addition to the performance bond, BuildSecure is accompanied by consultation and advice on best practices for: (1) Contract Review, (2) Lending Structure, (3) Information Network, (4) Emerging Issues and (5) Performance Security Terms and Conditions. Contact Christine Weirsky at 610.968.9395 or christine.weirsky@xlgroup.com

Zurich Launches Surety Product Solution for North America Public Private Partnership Market: Zurich has announced a product solution for contractors working in the fast growing Public Private Partnership (PPP) marketplace. Zurich’s Public Private Partnership Performance Bond responds to the needs of the financial community by providing financing for these projects while also delivering the well-known benefits of traditional surety bonds. The new surety product enables large construction projects to benefit from favorable financing treatment while maintaining the public policy, project completion and subcontractor payment benefits of traditional surety bonds. "The Public Private Partnership delivery model is an important one in Canada and is gaining traction in the United States," said Dan Riordan, president of Zurich's Specialty Products group. "Offering this surety approach in conjunction with Zurich’s risk management insurance solutions helps to deliver the sophisticated infrastructure projects in a more streamlined manner.” Mike Bond, head of Surety for Zurich in North America stated, “Zurich’s new Public Private Partnership Performance Bond was developed in consultation with lenders, leading construction companies, and financial rating agencies and has several components that are designed to help meet the needs of the financial community and large contractors working in the PPP space. Because of Zurich’s S&P rating of AA-,* the Public Private Partnership Performance Bond provides security that is highly valued in the PPP marketplace." "One important aspect of this surety bond is it provides liquidity which is critically important to project lenders and financiers” explained Geoff Delisio, head of Contract Surety who led the team that developed the bond language. “Another important aspect is the built in dispute resolution procedure that will help to resolve project disputes within pre-determined timeframes. Additionally, the bond provides the traditionally important performance bond safeguards that have proven to be so valuable to owners throughout North America for over 100 years.” Contact Steve McKay at 847.706.2265 or steven.mckay@zurichna.com

Zurich Reaches Agreement with Patriot National Insurance Group to Underwrite Workers’ Compensation Insurance: Zurich has announced an agreement with Patriot National Insurance Group, a leading provider of workers’ compensation insurance and related services, to underwrite workers’ compensation insurance through its agency captive platform. Under its agreement with Zurich, Patriot is a captive program administrator with full underwriting and claims settlement authority for Patriot’s Preferred Agency Captives. For Zurich, the agreement further builds its presence as a captive insurance and services provider and serves as an opportunity to build relationships with smaller retail agents. “This is a significant opportunity for us,” said Rod DeMaso, Head of Captives for Zurich’s Programs & Direct Markets business unit. “We are continually looking for ways to further assert ourselves as a captive solutions provider and the agreement with Patriot allows that as well as an opportunity to work with preferred agency captive owners.” “We are excited about our relationship with Zurich,” said Steven M. Mariano, CEO and Chairman of the Board for Patriot National Insurance Group. “Zurich has a proven name, ‘A+’ rated paper*, and is an industry leader with tremendous resources. Our financial alignment of interest with agents through captive risk sharing, combined with our proven SWARM claims handling approach and expertise in the preferred agency captive market segment lends value to current and future program enhancements for Zurich.”Patriot introduced their agency-owned captive platform in 2009 and in two years surpassed $100 million in annual workers’ compensation premium. Contact Jeff Casale at 847.413.5439 or jeff.casale@zurichna.com

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Publication Date:	12/05/2011
Source:	Advisen

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