Allied World U.S. and American Professional Agency Announce American Psychiatric Association (APA) Endorsed Malpratice Insurance Program

PEMBROKE, Bermuda, May 20 /PRNewswire-FirstCall/ -- Allied World Assurance Company Holdings, Ltd (NYSE: AWH) today announced that its U.S. specialty liability group, in concert with longtime New York-based program administrator,  American Professional Agency, have secured the endorsement of the American Psychiatric Association ("APA") to offer a professional and business liability product to the APA's 38,000 member professionals across the United States and through out the world.

"This new endorsement from the APA recognizes the value that is created by combining Allied World's  and American Professional's complementary skill sets and expertise in the field of risk management for mental health professionals.   Further, it will allow both firms to build on our long record of success in serving the insurance needs of Psychiatrists," said Allied World Vice President of Programs Business Al Fantuzzi.  Todd Germano, President of Allied World's P&C Company in the U.S. stated, "With this endorsement, Allied World and American Professional demonstrate again that we are uniquely focused on providing for the very specific insurance needs of mental health professionals.  We bring together Allied World's financial strength, claims handling and risk management services with American Professional's 40 years of experience in underwriting and risk management for psychiatrists."

Richard Imbert, founder and president of American Professional, commented, "The health care know-how possessed by Allied World's claims and risk management teams is one of the most extensive in the industry. We are pleased that this new program, with the full endorsement of the American Psychiatric Association, will allow us to continuing growing together for the foreseeable future."

"The APA is committed to bringing our members the best insurance product available through this new members-only benefit," said APA CEO and Medical Director, James H. Scully, Jr., M.D. "We believe that the combined services of Allied World Assurance Company and American Professional Agency will provide our members with the highest quality insurance coverage."

Allied World's professional and business liability program for psychiatrists is open to individual and group practitioners, and provides broad coverage with limits of up to $2 million/$6 million. Available exclusively to members of the APA, the program will be offered on both a claims-made and an occurrence form in all 50 states on an admitted basis.

For more information about this product please contact:

Peter Imbert

V 800.421.6694

E [email protected]

95 Broadway

Amityville, NY 11701

About Allied World Assurance Company

Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through offices in Bermuda, Europe, Hong Kong, Singapore and the United States. Our insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company. For further information on Allied World, please visit our website at www.awac.com.

About American Professional Agency

American Professional Agency, Inc. began operations in 1940 focusing on professional liability insurance with special emphasis in the mental health field. By maintaining a disciplined underwriting approach and partnering with only "A" (Excellent) A.M. Best rated carriers, APA, Inc. has grown to become the largest writer of mental health professional liability insurance in the United States. More information on APA, Inc. and its offerings is available online at http://www.americanprofessional.com/.

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SOURCE Allied World Assurance Company Holdings, Ltd