ZUG, Switzerland, July 1, 2013 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Allied World Europe is continuing its expansion of primary business with the launch of new lead Professional Indemnity (PI) policies. The new policies will provide coverage for architects & engineers (A&E) and miscellaneous classes. Coverage highlights include: civil liability, sudden and accidental pollution (A&E only), dishonesty of employees, innocent non-disclosure and defence costs coverage for criminal proceedings.
Jason Clark, Vice President, & European Professional Lines Manager commented, "Our new primary PI policies are designed to enhance our current product offerings and are uniquely tailored to meet the evolving needs of our clients. Dedicated, in-house, risk management and claims service teams remain a core focus of our underwriting approach and we look forward to continuing to provide our clients and trading partners with the exceptional service they have come to expect from Allied World."
Julian James, President, Allied World Europe commented, "Allied World has been steadily expanding the primary capabilities across its core lines of business. Our extended product suite provides our clients with a range of products to address their primary and excess liability needs, all from one insurer. The development of primary lead wordings is an important part of our broader European strategy to expand into lines of business where we believe we can make a meaningful impact in the market."
For more information about our new professional indemnity capabilities, please contact Jason Clark at 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.
Cautionary Statement Regarding Forward-Looking Statements
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.
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SOURCE Allied World Assurance Company Holdings, AG