ZUG, Switzerland, March 16, 2011 /PRNewswire/ --
Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Allied World Assurance Company Ltd. has launched an environmental liability line of business that will focus on risks throughout the Asia-Pacific region. Jota Shohtoku, Vice President, Head of General Casualty (Asia-Pacific) for Allied World, is based in Hong Kong and will be responsible for overseeing the development of this new line of business, in addition to managing the General Casualty portfolio in the region.
The initial product offerings include both Contractors Pollution Liability and Pollution Liability for scheduled sites. Policy wordings will be custom tailored to meet clients' geographical and operational needs, and coverage is designed to complement clients' current General Liability and/or Public Liability programs that are also offered by Allied World's platform in the Asia-Pacific region. Limits offered will be up to $10mm(USD) for each pollution incident and in the aggregate.
Mr. Shohtoku commented, "We created this line of business in response to our clients' needs. Businesses throughout the region are now required to have environmental liability insurance either through regulation or contractual obligation and we recognize the value in providing this service." Mr. Shohtoku brings a decade of environmental insurance underwriting and management experience to Allied World. Prior to joining Allied World, he held various positions in the environmental insurance industry; most recently launching Chartis Insurance's environmental liability platform in Asia. Mr. Shohtoku holds a Masters Degree in Environmental Science and Management from the University of California, Santa Barbara, and a Bachelor's Degree in Civil and Environmental Engineering from the University of Edinburgh.
For more information, please contact Mr. Shohtoku at firstname.lastname@example.org.
About Allied World Assurance Company
Allied World Assurance Company Holdings, AG, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through a global network of branches and affiliates. Our insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company, and our Lloyd's Syndicate 2232 is rated A+ (Strong) by Standard & Poor's and Fitch. Please visit our website at http://www.awac.com for further information on Allied World.
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SOURCE Allied World Assurance Company Holdings, AG