XL Winterthur International Launched XL Winterthur International (XLWI), the account risk management business of XL Capital Ltd. (XL) announced the establishment of a new Excess Casualty unit based in New York.
The new unit will offer lead umbrella capacity up to $25 million excess of minimum attachment points of $1 million utilizing umbrella occurrence and claims made coverage forms.
Excess Liability following form coverage also will be available subject to a maximum capacity of $50 million per account. The business will be underwritten on an admitted basis in the United States, with policies issued by Winterthur International America Insurance Company, rated “A+” (Superior) XV by A.M. Best and AA by S&P.
The unit will target risk management accounts with revenues greater than $250 million. All classes of business will be considered with the following exceptions: automotive manufacturers to include critical parts, chemicals, integrated oil companies, truckers for lead umbrella coverage, pharmaceuticals and invasive medical devices and residential contractors.
XLWI Vice President Diane Amodeo, who has 20 years experience in the industry and formerly with AIG, will head the unit.
“XL’s insurance operations, since inception in 1986, have demonstrated an ability to provide excess liability coverages with a high level of professionalism, innovation, and dedication to its clients and brokers throughout the world,” said George Keller, executive vice president of Winterthur International America Insurance Company and Deputy CEO XLWI Americas.
“This new initiative was created to answer their needs for stable, reliable umbrella and excess capabilities in the US marketplace. Under Diane’s leadership, XLWI will offer our U.S. clients and brokers a top quality product and continue to meet their expectations for world-class service.”
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