Boulder Claims Launches in Time for Wind Season

Boulder, CO – International Catastrophe Insurance Managers, LLC, (ICAT) today announced the formation of Boulder Claims, LLC. Effective June 1, 2005, Boulder Claims will have responsibility for the administration of all claims emanating from business underwritten by ICAT on behalf of several member insurance companies of XL Capital Ltd (XL).

“ICAT’s producers and policyholders were very complimentary of the service ICAT’s Claims Business Unit delivered during the 2004 Hurricane Season” said Ed Kelly, President and COO of ICAT. “The creation of Boulder Claims will strengthen and enhance the level of service ICAT policyholders will receive when catastrophe events occur.”

“Boulder Claims is a combination of the brightest and best catastrophe claims professionals in the industry with a state-of-the-art claims administration system” said Jeff Baker, President of Boulder Claims and former Senior Vice President of ICAT’s Claims Business Unit. “The claims administration function is frequently under appreciated. Boulder Claims is staffed with exceptionally talented people including large loss specialists and other catastrophe claims experts. Our mission is to deliver ‘best-of-market’ claim services to our policyholders and producers and to settle claims fairly and quickly. We are excited about the capabilities that Boulder Claims is in a position to deliver to ICAT’s policyholders.”

Boulder Claims is a separate company that is independent from ICAT. ICAT has no equity or other relationship with Boulder Claims. Boulder Claims provides claims administration services to ICAT-underwritten business that is written on behalf of XL.

For more information regarding this story, please contact: Jeff Baker at (303) 447-1155, ext 1282