OneBeacon Introduces Liability Coverage for Film, Radio and Live Theatrical Presentations

PLYMOUTH, Minn., Oct. 14, 2015 /PRNewswire/ -- OneBeacon Insurance Group (NYSE: OB), has introduced a new professional liability product - Producer Plus Liability*. This innovative product provides liability insurance designed to meet the needs faced by producers of entertainment and industrial films, radio, and live theater.

Vice President Regina Williams commented "We are excited to have developed and added Producer Plus Liability to our portfolio, given the emerging need for this type of coverage. We are pleased to offer a robust, flexible solution backed by our specialized media liability team, to address this marketplace need."

Producer Plus Liability will be written on an admitted basis in all states except Louisiana and Vermont (where it will be written on a surplus basis) with a $5 million maximum coverage limit.  Agents and brokers interested in additional information about this product should contact Regina Williams at [email protected].  

*Coverage will be written on the Producer and Entertainment Advantage form and may be underwritten by one of the following insurance companies: Atlantic Specialty Insurance Company or Homeland Insurance Company of New York.

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's underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment, and providing distinct products and tailored coverages and services. OneBeacon's solutions target group accident; commercial surety; design professionals; entertainment; environmental; excess property; financial services; healthcare; management liability; ocean and inland marine; programs; public entities; technology; and tuition refund. For further information about our products and services visit: www.onebeacon.com and to remain up to date on OneBeacon's news, follow us on Twitter @OneBeaconIns or visit our online newsroom: www.onebeacon.com/newsroom.

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This news 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 news release that address activities, events or developments which we expect will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict," "anticipate" 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;
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These statements are based on certain assumptions and analyses made by us in light of OneBeacon's experience and judgments about 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 is subject to a number of risks, uncertainties or other factors which are described in more detail that could cause actual results to differ materially from expectations, including:

• claims arising from catastrophic events, such as hurricanes, windstorms, earthquakes, floods, or terrorist attacks;
• recorded loss and loss adjustment expense reserves subsequently proving to have been inadequate;
• changes in interest rates, debt or equity markets or other market volatility that negatively impact our investment portfolio;
• competitive forces and the cyclicality of the property and casualty insurance industry;
• actions taken by rating agencies from time to time with respect to us, such as financial strength or credit rating downgrades or placing our ratings on negative watch;
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• our ability to successfully develop new specialty businesses;
• changes in laws or regulations, or their interpretations, which are applicable to us, our competitors, our agents or our customers;
• participation in guaranty funds and mandatory market mechanisms;
• the impact of new theories of liability;
• changes to current shareholder dividend practice and regulatory restrictions on dividends;
• credit risk exposure in certain of our business operations;
• our status as a subsidiary of White Mountains, including potential conflicts of interest;
• changes in tax laws or tax treaties; and
• other factors, most of which are beyond our control, including the risks that are described from time to time in OneBeacon's filing with the Securities and Exchange Commission, including but not limited to OneBeacon's Annual Report on Form 10-K for the fiscal year ended December 31, 2014 filed February 27, 2015.

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

SOURCE OneBeacon Insurance Group