Allied World Launches 32/64 Primary EPL Product

ZUG, Switzerland, Nov. 17, 2011 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Allied World Bermuda has launched a new primary employment practices liability (EPL) product for companies needing a comprehensive coverage package.  The product, 32°/64°, offers flexible retention options and built-in punitive and exemplary damages coverage, thereby removing the need to purchase a separate puni-wrap policy.

32°/64° provides protection for the significant expenses associated with defending employment-related claims, as well as the substantial costs of paying a judgment or settlement.  This policy provides broad coverage safeguards for employers against claims made by current, former or prospective employees for discrimination (age, race, sex, disability, etc.), wrongful termination, sexual harassment, retaliation, and other employment-related allegations. No industry class is excluded and limits are available up to $25m.

Ed Moresco, Senior Vice President, Bermuda and International Professional Lines Product Line Manager commented, "Unfortunately, in today's environment it is no longer a matter of whether an employer will be the target of an EPL claim; it is simply a matter of when. Our 32°/64° product offers complete protection for our clients in the event of a severe employment-related claim while granting them the flexibility they require." 

For more information on 32°/64°, please contact Joyce Duarte, Vice President, Professional Lines – Bermuda, at  [email protected].

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 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. Please visit www.awac.com for further information on Allied World.

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SOURCE Allied World Assurance Company Holdings, AG