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Allied World U.S. Announces Coverage Enhancement to its Contractor's General Liability Program Managed by Hartan


News provided by

Allied World Assurance Company Holdings, AG

Apr 28, 2011, 11:42 ET

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ZUG, Switzerland, April 28, 2011 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) today announced that Allied World U.S. will begin underwriting primary Contractor's Pollution Liability (CPL) coverage through Hartan Specialty Programs division (Hartan). This new coverage enhances Allied World U.S.'s Contractor's General Liability Program, which has been managed by Hartan since April of 2009.

Todd Germano, President, U.S. Property & Casualty commented, "This product enhancement is an example of the growing collaboration between Allied World and Hartan.  This innovative CPL policy will further enhance our Contractor's Program by providing retailers and their clients with a fast, efficient means to access this valuable coverage."

Hartan President, Ed Pray, stated, "Our growing partnership with Allied World U.S. has allowed us to expand on the coverages we are able to offer our contractor clients through this program. We are working together to identify ways to bring the broad product capability of Allied World U.S. to the benefit of our clients. As we look to expand our business out of the Northeast into the Mid-West and Mid-Atlantic states, additional product offerings enhance the attractiveness of our program."

Hartan will target commercial contracting risks including construction, installation, renovation and repair contractors.  Coverage will be written on an occurrence form in 26 states on a non‐admitted basis with primary limits of $1 million/$2 million. In addition to this coverage, Hartan also offers Contractor's General Liability, Owner's/Contractor's and Railroad Protective coverage as part of this program. CGL policies are offered on both an admitted and non-admitted basis for a broad range of general and trade contracting risks.

For more information about this product please contact:
Ron Howell or Susan Percoco of Hartan at 212-314-9600

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 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, AG

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