EXTON, Pennsylvania and CHARLESTOWN, Massachusetts, Oct. 12 /PRNewswire/ -- XL Insurance, the global insurance operations of XL Group plc (NYSE: XL) and Breed's Hill Insurance Agency, Inc., a specialized Managing General Underwriter, today announced a new joint underwriting agreement to provide General Liability (GL) and Property coverages for multi-unit apartment buildings, condominium associations, and mixed-use real estate risks primarily in the New England market.
John Hartman, XL Insurance's Chief Underwriting Officer of Programs, said: "With an experienced staff, extensive market knowledge and their hands-on claims management involvement, Breed's Hill has built quite a reputation for effectively serving New England multi-unit real estate risks. This is exactly the kind of solid reputation and demonstrated industry-specific underwriting expertise that XL Insurance values in our program partnerships. We look forward to a productive, long-term relationship with Breed's Hill."
Breed's Hill President Paul Barringer, said: "XL Insurance and Breed's Hill have strong track records providing attentive service and are equally committed to tailoring our industry-specific coverages to our individual clients' specific insurance needs. We're already seeing strong results from our new business relationship."
"As a result of this new agreement, our brokers will be pleasantly surprised with our improved quote response time and enhanced efficiencies," added Mr. Barringer. "This new partnership will lend itself to more opportunities for our brokers as we boost our marketing efforts and increase our presence in new regions."
Breed's Hill will offer its GL and Property coverage through the XL Insurance companies, Greenwich Insurance Company and Indian Harbor Insurance Company. Greenwich Insurance Company is a primary insurance company licensed to write property and casualty insurance throughout the United States. For greater flexibility and immediacy to market, Breed's Hill will also have the option to offer excess and surplus coverage through XL Insurance's non-admitted carrier, Indian Harbor. In addition to GL and property coverages that it offers with XL Insurance, Breed's Hill also offers umbrella liability and boiler and machinery coverages with other highly-rated insurers.
About Breed's Hill
Breed's Hill is a Managing General Underwriter (MGU), offering a Property and Casualty insurance program to retail brokers for multi-unit apartment buildings, condominium associations, and mixed-use real estate risks in the New England market. More information about Breed's Hill is available at www.breedshill.net or by calling Keith Schwab, Breed's Hill – Business Development at 617-886-0606.
About XL Insurance
XL Insurance's North America Programs group specializes in customized program solutions for market-leading Program Administrators with demonstrated underwriting and marketing excellence. The group works with Program Administrators possessing unique industry skills, specialized underwriting talent and a proven record of success with managing books of program business. XL Insurance is the global brand used by XL Group plc's insurance companies and underwriting divisions offering property, casualty, professional and specialty insurance products throughout the world. More information about XL Insurance's North America Program group is available at www.xlprograms.com.
XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty, and specialty products to industrial, commercial, and professional firms, insurance companies and other enterprises on a worldwide basis. More information about XL Group plc is available at www.xlgroup.com.
SOURCE XL Insurance