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Casualty Insurance Programs for Multinational Companies

Casualty
AXA XL Insurance offers primary casualty coverage for multinational companies around the globe. AXA XL WorldPass covers risk-managed, non US/Canadian-based companies. AXA XL EuroPass is designed for the legal, regulatory and tax requirements of the EU and the EEA. AXA XL WorldPath is designed for US/Canadian-headquartered companies.

Coverage

AXA XL EuroPass:

  • General and products liability
  • Common extensions available are excess auto liability, excess employers liability, pure financial loss, product recall, dismantling and reinstalling costs

Client Profiles

AXA XL EuroPass:

  • Multinational companies
  • Private companies
  • Clients with risk management orientation

Typical Information Required

AXA XL EuroPass:

  • Five-year loss history (confirmed claims experience from holding insurer)
  • Summaries of claims outstanding over EUR/USD 50,000
  • Detailed historical loss information for losses exceeding EUR/USD 250,000
  • Detailed historical company information, including broad product areas and geographical operations
  • Program structure, including number of countries, limits of insurance, deductibles or self-insured retentions, coverage specifications and servicing requirements
  • Risk management and health and safety procedures

Benefits & Services

AXA XL EuroPass:

  • Global IT platform to facilitate administrative processes
  • Efficient and compliant tax allocation and payment procedures
  • Knowledge of local rules and regulations
  • Experienced claims handlers who understand the complexity of cross-border claims services
  • Commitment to long-term relationships and support as required for this long-tail class of business
  • Coverage in one policy; no need for locally-issued policies in the EU or EEA

Attachment Point

AXA XL EuroPass:

  • For pure excess: EUR/USD 15 million
  • May consider lower attachment points for selected activities

Limits On Product

AXA XL EuroPass - Primary and excess combined: up to EUR/USD 100 million - Annual or multi-year basis.

Minimum Deductible

AXA XL EuroPass - Varies

Minimum Premium

AXA XL EuroPass - Varies

Capacity

AXA XL WorldPath: Up to USD 10 million

Coverage

AXA XL WorldPath:

  • Home foreign controlled master programs
  • Global programs
  • Fronting solutions (e.g., captives, matching deductibles)

Client Profiles

AXA XL WorldPath:

  • US and Canadian headquartered multinationals
  • Large, middle market or growing companies and institutions with international needs
  • Commitment to centralized risk management

Typical Information Required

AXA XL WorldPath:

  • Name and address of first named insured, with schedule of related entities and locations
  • Description of operations with products and services for each entity
  • Schedule of discontinued operations and products
  • Schedule of asset sales, acquisitions and divestitures and how liabilities were handled
  • Historical and prospective exposure base for each line of business (optimal: five years)
  • Audited financial statements for the latest annual period
  • Ground-up loss information for each line of business valued within six months of program effective date (five years, excluding current year)
  • Schedule of large losses
  • Program design, including number of countries, limits of insurance, deductible, captive retention or self-insured retention amount, coverage requirements (master and local policies), claims service requirements and loss control requirements

Benefits & Services

AXA XL WorldPath:

  • Ability to issue locally admitted policies
  • Global network to manage all aspects of claims resolution
  • Centralized account data management
  • Knowledge of local rules and regulations
  • Strong expertise in cash flow management
  • Experience insured captive structures
  • Strong focus on reinsurer quality (S&P “A” or better)
  • Master policy issued within 30 days of inception
  • Notification to local offices within 24 hours of binding
  • Instructions to local offices within 30 days of receiving allocations
  • Quarterly loss runs in .pdf and .xls format
  • Global fronting

Attachment Point

AXA XL WorldPath: First dollar

Limits On Product

AXA XL WorldPath: Up to USD 10 million

Minimum Deductible

AXA XL WorldPath: None, depending on risk profile

Minimum Premium

AXA XL WorldPath: USD 25,000

Capacity

AXA XL WorldPass:


Primary and excess combined: up to EUR/USD 100 million


AXA XL EuroPass:


Primary and excess combined: up to EUR/USD 100 million


Coverage

AXA XL WorldPass:

  • General and products liability
  • Common extensions available are excess auto liability,excess employers liability, pure financial loss, product recall, dismantling and reinstalling costs

AXA XL EuroPass:

  • General and products liability
  • Common extensions available are excess auto liability, excess employers liability, pure financial loss, product recall, dismantling and reinstalling costs

Client Profiles

AXA XL WorldPass:

  • Multinational companies
  • Clients with risk management orientation

AXA XL EuroPass:

  • Multinational companies
  • Private companies
  • Clients with risk management orientation

Typical Information Required

AXA XL WorldPass

  • Five-year loss history (confirmed claims experience from incumbent insurer)
  • Summaries of claims outstanding over EUR/USD 50,000
  • Detailed historical loss information for losses exceeding EUR/USD 250,000
  • Detailed current and historical company information, including broad product areas and geographical operations
  • Program structure, including number of countries, limits of insurance, deductibles or self-insured retentions, coverage specifications and servicing requirements
  • Risk management and health and safety procedures

AXA XL EuroPass

  • Five-year loss history (confirmed claims experience from holding insurer)
  • Summaries of claims outstanding over EUR/USD 50,000
  • Detailed historical loss information for losses exceeding EUR/USD 250,000
  • Detailed historical company information, including broad product areas and geographical operations
  • Program structure, including number of countries, limits of insurance, deductibles or self-insured retentions, coverage specifications and servicing requirements
  • Risk management and health and safety procedures

Benefits & Services

AXA XL WorldPass:

  • Ability to issue locally admitted policies
  • Global IT platform to facilitate administrative processes
  • Knowledge of local rules and regulations
  • Experienced, solution oriented global program underwriters
  • Experienced claims handlers who understand the complexity of cross-border claims services
  • Strong expertise in cash flow management
  • Commitment to long-term relationships and support as required for this long-tail class of business
  • Compliant legal and tax solution for global programs, including local policies in the US and Canada

AXA XL EuroPass:

  • Global IT platform to facilitate administrative processes
  • Efficient and compliant tax allocation and payment procedures
  • Knowledge of local rules and regulations
  • Experienced claims handlers who understand the complexity of cross-border claims services
  • Commitment to long-term relationships and support as required for this long-tail class of business
  • Coverage in one policy; no need for locally-issued policies in the EU or EEA

Attachment Point

AXA XL WorldPass:

  • For pure excess: EUR/USD 15 million
  • May consider lower attachment points for selected activities
AXA XL EuroPass:
  • For pure excess: EUR/USD 15 million
  • May consider lower attachment points for selected activities

Limits On Product

AXA XL WorldPass:

  • Primary and excess combined: up to EUR/USD 100 million,
  • Annual or multi-year

AXA XL EuroPass:

  • Primary and excess combined: up to EUR/USD 100 million,
  • Annual or multi-year basis.

Minimum Deductible

AXA XL WorldPass: Varies XL EuroPass: Varies

Minimum Premium

AXA XL WorldPass: Varies AXA XL EuroPass: Varies

The information contained herein is intended for informational purposes only. It’s is neither an offer to sell nor a solicitation to purchase any particular insurance product. Insurance coverage in any particular case will depend upon the type of policy in effect, the terms, conditions and exclusions in any such policy, and the facts of each unique situation. No representation is made that any specific insurance coverage would apply in the circumstances outlined herein. Please refer to the individual policy forms for specific coverage details. AXA XL is a division of AXA Group providing products and services through four business groups: AXA XL Insurance, AXA XL Reinsurance, AXA XL Art & Lifestyle and AXA XL Risk Consulting. In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA Group. Not all of the insurers do business in all jurisdictions nor is coverage available in all jurisdictions.

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