Enhanced and re-named its product Alternative Risk Transfer Structures as Private Risk-Transfer Organisations
Allied World Assurance (AWH), a provider of property, casualty and specialty insurance and reinsurance services, has improved its suite of professional liability products for insurance companies and risk-transfer organisations.
According to AWH, it offers a new Insurance Company Professional Liability (ICPL) product, under its Darwin-branded errors and omissions (E&O) product line, to provide coverage to larger insurers. It has also enhanced and re-named its product formerly known as Alternative Risk Transfer Structures (ART) as Private Risk-Transfer Organisations (PRO).
ICPL offers limits up to $10 million, with an annual gross written premium of up to $2 billion, aiming at insurance company or risk transfer organisation.
AWH’s enhanced PRO product offers E&O coverage with optional D&O and Employment Practices Liability (EPL) insurance, besides full prior acts coverage and $25,000 in privacy liability coverage.