EXTON, Pa., Sept. 15, 2016 /PRNewswire/ -- To address the rapid change happening in the design professional industry, XL Catlin has improved its Design Professional insurance policy form to effectively address architects', engineers' and other design businesses' changing professional liability insurance needs.
According to Doug Strong, Chief Underwriting Officer of XL Catlin's Design Professional insurance business in North America, "Today's design leaders find themselves in a dynamic environment. Shifting customer needs, integration of emerging technologies and the changing landscape of the professional work force continue to create challenges. To help meet these challenges and reduce their exposures, we've carefully crafted an enhanced policy form that takes the industry's evolving business and operational environment, and subsequent risks, into consideration."
XL Catlin's newly enhanced Design Professional liability policy form enhancements include:
- Improved coverage for exposures related to 3D printing and other computer-assisted design technologies (beyond BIM),
- More clearly affirmed coverage for pro bono services, in recognition of our insureds' expanding involvement with non-profit organizations in their communities.
- Coverage for data collected or otherwise covered work product derived with the assistance of drones used in conjunction with professional services.
- Added crisis management coverage which provides up to $30,000 per policy year for public relations expenses related to a "crisis event."
- Increased limits for defendant reimbursement
- Increased disciplinary, regulatory and administrative expense supplements.
XL Catlin's Design Professional business provides professional liability insurance for architects, engineers and design consultants. Coverage is available for firms of all sizes and disciplines and is accompanied by a variety of loss prevention assistance and risk management assistance including continuing education courses and access to XL Catlin's Contract eGuide to help firms incorporate strong contract language.
About XL Catlin Insurance Operations
XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group Ltd.'s (NYSE: XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.
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SOURCE XL Catlin