Allied World U.S. Announces ForceField(SM) for Healthcare Organizations: Management Liability Standalone Coverage Solutions

PEMBROKE, Bermuda, Oct. 5 /PRNewswire/ -- Allied World Assurance Company Holdings, Ltd (NYSE: AWH) announced today the introduction, by Allied World U.S., of its ForceField(SM) for Healthcare Organizations management liability standalone coverage solutions.

ForceField for Healthcare Organizations product suite offers five distinct standalone coverage components: Directors & Officers Liability, Employment Practices Liability, Fiduciary Liability, Crime, and Kidnap & Ransom/Extortion Coverage. These standalone products are available to all types of Healthcare Organizations.

ForceField for Healthcare Organizations was developed by leveraging Allied World's extensive Healthcare knowledge and expertise," said Gordon Knight, President, Allied World U.S. Knight added, "These products were created to address the unique needs of the Healthcare industry which continues to be a core focus for Allied World globally."

In addition to comprehensive coverage protection, insureds have access to key risk management services available via our strategic relationships with the workplace Helpline® (EPL coverage), red24™ (KRE coverage), and Strategic Response(SM) (D&O coverage).  

Cindy Oard, Senior Vice President of Allied World Healthcare, said, "We have built these new products leveraging Allied World's ForceField products and tailored the coverage to the unique needs of Healthcare organizations.  We continue to focus our efforts on providing our brokers leading edge coverage solutions supported by risk management, claims and underwriting expertise to create Healthcare specific solutions for our clients."

Worldwide coverage of up to $25 million in limits is available for each type of standalone coverage.  Actual coverage will be subject to the policy as issued.

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

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.

SOURCE Allied World Assurance Company Holdings, Ltd