XL Capital Ltd (fka XL) (XL)

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XL Insurance and American Wholesalers Underwriting Announce New Underwriting Agreement to Service Wholesale Distribution Industr

Date : 01/11/2010 @ 12:00PM
Source : PR Newswire
Stock : XL Capital Ltd. (XL)

http://ih.advfn.com/p.php?pid=nmona&cb=1263231707&article=41055576&symbol=NY^XL

XTON, Pa. and STAMFORD, Conn., Jan. 11 /PRNewswire-FirstCall/ --

XL Insurance, the global underwriting operations of XL Capital Ltd (NYSE:XL), and American Wholesalers Underwriting, Ltd., a specialized program administrator, today announced a new joint underwriting agreement to provide the Wholesalers' Insurance Program(R) the WIP(R), a comprehensive insurance program for the durable and non-durable goods wholesale distribution industry

John Hartman, XL Insurance's Chief Underwriting Officer of Programs, said: "XL Insurance values industry expertise. In this new underwriting agreement, that is exactly what American Wholesalers Underwriting brings to the table. With their experienced staff and thorough industry knowledge, they have carved out a 'best in class' approach to service the wholesale distributors' insurance needs. We are looking forward to a long-term relationship that will yield strong results for us as well as the customers we'll serve together."

"We are very excited to be working with XL Insurance," said American Wholesalers Underwriting President Ken Lewis. "We both value technical underwriting expertise and loss prevention that can help our clients manage their risk exposures effectively."

"WIP is a recognized program in this industry. Over the years, we have tailored and streamlined the underwriting, policy servicing, accounting and claims processing to specifically address issues that are unique to wholesalers," explained Mr. Lewis

"Technology is the cornerstone of our underwriting operation. AWUL's advanced automated management system allows us to efficiently and consistently process our policies while providing our clients with quick and efficient quotes and policy turnaround," said John Shea, AWUL's Chief Operating Officer,

WIP is a national insurance program designed to meet the needs of the durable, non - durable, and food distribution industries. These industries encompass a broad scope of Standard Industrial Classifications ranging from 5000-5199. (visit http://www.awul.com/) including motor vehicle supplies, industrial supplies and equipment, material handling equipment, metal services, electrical and plumbing, hardware, and food and beverage distributors

The program provides property, inland marine, auto, general liability, workers comp and umbrella coverage with numerous industry specific extensions. Available in all 50 states, coverages and limits are tailored to meet individual distributor's specific risk management needs. The program will be provided by XL's Greenwich Insurance Company and its affiliates, licensed to write property and casualty insurance throughout the United States

American Wholesalers Underwriting, Ltd. is a nationally recognized program administrator, underwriter and wholesaler serving retail insurance agencies. More information about American Wholesalers Underwriting is available at http://www.awul.com/

"XL Insurance" is the global brand used by member insurers of the XL Capital Ltd (NYSE:XL) group of companies. More information about XL Insurance is available at http://www.xlinsurance.com/. Through its operating subsidiaries, XL Capital Ltd is a leading provider of global insurance and reinsurance coverage and services to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. More information about XL Capital Ltd is available at http://www.xlcapital.com/.

DATASOURCE: XL Insurance

CONTACT: Christine M. Weirsky, XL Insurance Media Relations, +1-610-968-

9395

Web site: http://www.xlcapital.com/