NEW YORK, April 27, 2011 /PRNewswire/ -- XL Insurance, the global insurance operations of XL Group plc (NYSE: XL), today announced XL WorldPath™, a set of global insurance solutions for North America-based multinational companies with cross-border insurance coverages to help address international legal, regulatory and tax compliance considerations.
David Duclos, Chief Executive Officer of XL's global insurance operations, said: "Continued globalization is creating added complexities for risk managers. They need to be prepared to effectively insure operations and assets anywhere in the world, and remain compliant with all the licensing, tax and regulatory requirements in each individual market. This can be especially challenging as more companies explore new business opportunities in emerging markets where there is less familiarity with local requirements. XL WorldPath provides options to address our clients' risk management needs wherever they do business."
XL WorldPath™ is a set of solutions for multinational companies to manage their Property, Casualty, and Environmental insurance coverages globally. Working with their clients and brokers, XL Insurance's global underwriting team develop a global insurance program, structured to meet regulatory, legal and tax requirements for their clients' operations around the world.
According to Seraina Maag, Chief Executive of XL Insurance's North America Property & Casualty unit, "With XL WorldPath, XL Insurance brings together our significant global capacity, underwriting skills and servicing capabilities in more than 100 countries to offer clients options in managing their global exposures."
"XL tracks and stays on top of information about entities, markets, taxes, licensing, and lines of business requirements throughout the world so that we can help our clients effectively meet the local compliance requirements," Ms. Maag explained. "XL WorldPath offers a comprehensive, integrated approach, including loss prevention and claims management services, for our clients' global risk management efforts. And through our global claims platform, XL GlobalClaim™, our clients gain access to high-quality, efficient data tracking and reporting to help them monitor their exposures, aggregates and claims activity globally."
About XL Insurance
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 is available at www.xlinsurance.com.
XL was formed in 1986 in response to the unmet risk management needs of 68 of the world's largest companies. This year, as XL celebrates its 25th anniversary, it remains the company clients look to for innovative insurance and reinsurance solutions for their most complex risks. 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. Its principal offices are located at No. 1 Hatch Street Upper, 4th Floor, Dublin 2, Ireland. More information about XL Group plc is available at www.xlgroup.com
SOURCE XL Insurance