OneBeacon Government Risks Introduces Online Risk Management Training

Dec 16, 2010, 17:39 ET from OneBeacon Insurance Group, Ltd.

MINNETONKA, Minn., Dec. 16, 2010 /PRNewswire/ -- OneBeacon Government Risks, a member of OneBeacon Insurance Group (NYSE: OB), today announced its new online risk management training center available on its website: The center is designed to deliver insights and resources to help public entities efficiently mitigate their risks.

"Public entities face unique potential exposures on a day-to-day basis," said Jeff Richardson, President of OneBeacon Government Risks. "Our new online risk management training center provides public risk managers convenient access to state-of- the-art risk management solutions enabling proactive and strategic approaches to managing their environment."

OneBeacon Government Risk's new web-based training center features courses specifically designed for public entities and their employees. Topics include: defensive driving; lockout/tagout; slips, trips and falls; sexual harassment prevention; workplace diversity; and workplace violence. The training site is easy to use and courses can be completed at each individual's pace and convenience.

In addition to the training center, OneBeacon Government Risks also offers broad risk management resources that are flexible and innovative, to help public entities protect themselves and their community. Resources include: in-depth exposure analysis and specific problem identification; customized risk management consultations and evaluations; regional seminars and education; and claims analysis to help the entity manage its loss trends.

About OneBeacon Government Risks: OneBeacon Government Risks is a specialty insurance provider offering a suite of property/casualty coverages and is dedicated to helping public entities manage their uniquely broad spectrum of risk.

About 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 Insurance Group's underwriting companies offer a range of specialty insurance products sold through select independent agents, regional and national brokers, and wholesalers. The company's businesses include OneBeacon Professional Insurance, International Marine Underwriters, Entertainment Brokers International Insurance Services, Specialty Accident and Health, OneBeacon Government Risks, OneBeacon Energy Group, A.W.G. Dewar (tuition refund), collector cars and boats written through Hagerty Insurance Agency, OneBeacon Technology Insurance, OneBeacon Financial Services, OneBeacon Specialty Property, Property and Inland Marine, OneBeacon Excess and Surplus Lines, and AutoOne.

As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialty insurance businesses are national in scope.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 

This press 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 release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict" 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;
  • business strategy;
  • financial and operating targets or plans;
  • incurred loss and loss adjustment expenses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance;
  • projections of revenues, income (or loss), earnings (or loss) per share, dividends, market share or other financial forecasts;
  • expansion and growth of our business and operations; and
  • future capital expenditures.

These statements are based on certain assumptions and analyses made by OneBeacon in light of its experience and perception of 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 and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:

  • claims arising from catastrophic events, such as hurricanes, windstorms, earthquakes, floods, fires, explosions, terrorist attacks or severe winter weather;
  • recorded loss and loss adjustment expense reserves subsequently proving to have been inadequate;
  • the continued availability and cost of reinsurance coverage;
  • the continued availability of capital and financing;
  • general economic, market or business conditions;
  • business opportunities (or lack thereof) that may be presented to it and pursued;
  • competitive forces, including the conduct of other property and casualty insurers and agents;
  • changes in domestic or foreign laws or regulations, or their interpretation, applicable to OneBeacon, its competitors, its agents or its customers;
  • an economic downturn or other economic conditions adversely affecting its financial position including stock market volatility;
  • actions taken by ratings agencies from time to time, such as financial strength or credit ratings downgrades or placing ratings on negative watch;
  • the risks that are described from time to time in OneBeacon's filings with the Securities and Exchange Commission, including but not limited to OneBeacon's Annual Report on the Form 10‐K for the fiscal year ended December 31, 2009 filed February 26, 2010.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by OneBeacon will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, OneBeacon or its business or operations. 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, Ltd.