OneBeacon Broadens @vantage® For Information Technology Solution

CANTON, Mass., May 24 /PRNewswire-FirstCall/ -- OneBeacon Technology Group, part of the OneBeacon Insurance Group (NYSE: OB), today announced significant enhancements to its @vantage® for Information Technology product designed for hardware, software and telecommunications companies.

"Our enhanced solutions bridge coverage gaps that exist between other forms available in the market today," said Matt Mueller, president of OneBeacon Technology Group.  "We regularly strengthen our products, which are built on the deep expertise of our underwriting, claims and risk control specialists, to provide a robust, committed market for our distribution partners."

Two primary coverage areas have been broadened to recognize the continually emerging risks technology firms face today. With OneBeacon's custom Data Privacy Protection, policyholders receive coverage for their potential failure to protect their clients' private data and for costs associated with responding to data breaches, whether they occur in written or electronic form. Furthermore, OneBeacon provides dedicated services to help its customers mitigate potential incidents and to notify affected parties should a breach occur, including identity restoration case management and other specialized services provided by Identity Theft 911®. Additional coverage extensions are also available such as proactive monitoring services, data breach ransom, data breach reward and more.

A second enhancement focuses on @vantage® for Information Technology's errors and omissions protection that provides financial protection to the policyholder and its clients for the policyholder's failure to perform. @vantage Technology Errors & Omissions offers essential protection, while the broader @vantage Plus version of the product delivers more specialized coverages.

OneBeacon Technology Group offers first- and third-party worldwide insurance solutions for the Information Technology and Medical Technology sectors.  InfoTech coverages feature professional liability, data privacy, products liability, and property and business income targeting the software, hardware manufacturing and telecommunications service industries.  MedTech offerings include products and general liability as well as human clinical trials, property and business income well suited for manufacturers of diagnostic and therapeutic medical devices, veterinary products and biologic devices.

About OneBeacon: OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB". OneBeacon Insurance Group's underwriting companies offer a range of insurance products sold through select independent agents, regional and national brokers, and wholesalers. The company's ongoing businesses include OneBeacon Professional Insurance, International Marine Underwriters, Entertainment Brokers International Insurance Services, Specialty Accident and Health, OneBeacon Government Risks, OneBeacon Energy Group, A.W.G. Dewar (tuition refund), collector cars and boats written through Hagerty Insurance Agency, OneBeacon Technology Group, OneBeacon Financial Services, OneBeacon Specialty Property, Property and Inland Marine and AutoOne.

As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialty insurance businesses are national in scope while personal lines business is concentrated in the Northeastern United States.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to OneBeacon's:

• change in book value per share or return on equity;
• business strategy;
• financial and operating targets or plans;
• incurred loss and loss adjustment expenses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance;
• projections of revenues, income (or loss), earnings (or loss) per share, dividends, market share or other financial forecasts;
• expansion and growth of our business and operations; and
• future capital expenditures.

These statements are based on certain assumptions and analyses made by OneBeacon in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:

• claims arising from catastrophic events, such as hurricanes, windstorms, earthquakes, floods, fires, explosions, terrorist attacks or severe winter weather;
• recorded loss and loss adjustment expense reserves subsequently proving to have been inadequate;
• the continued availability and cost of reinsurance coverage;
• the continued availability of capital and financing;
• general economic, market or business conditions;
• business opportunities (or lack thereof) that may be presented to it and pursued;
• competitive forces, including the conduct of other property and casualty insurers and agents;
• changes in domestic or foreign laws or regulations, or their interpretation, applicable to OneBeacon, its competitors, its agents or its customers;
• an economic downturn or other economic conditions adversely affecting its financial position including stock market volatility;
• actions taken by ratings agencies from time to time, such as financial strength or credit ratings downgrades or placing ratings on negative watch;
• the risks that are described from time to time in OneBeacon's filings with the Securities and Exchange Commission, including but not limited to OneBeacon's Annual Report on the Form 10-K for the fiscal year ended December 31, 2009 filed February 26, 2010.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by OneBeacon will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, OneBeacon or its business or operations. OneBeacon assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.

Web Site:  www.onebeacon.com

SOURCE OneBeacon Insurance Group