XL Insurance Teams Up with National Indemnity to Provide 'Side A' Directors & Officers Coverage
London, UK - June 09, 2009
HARTFORD, Connecticut, June 9, 2009 – XL Insurance, XL Capital Ltd’s global insurance operations, today announced a new agreement with National Indemnity Company (“National Indemnity”), an insurance company subsidiary of Berkshire Hathaway Inc. Under this agreement, and its related reinsurance agreement, National Indemnity will issue endorsements to “Side A” Directors & Officers policies.“Given today’s business climate, we believe that this enhanced ‘Side A’ coverage, for individual Directors & Officers, addresses both client and broker need for a program that offers the utmost protection to directors and officers in the event that the client’s indemnity coverage fails to respond.” said David Duclos, Chief Executive Officer of XL Insurance. “It is yet another example of the proactive focus XL takes in responding to our customers’ needs.”This new endorsement to XL Insurance’s “Side A” coverage offers clients the option to add an additional layer of protection from National Indemnity which is rated A++ by A.M. Best.“Available through XL Insurance’s US Professional group, this agreement ensures that our ’Side A‘ clients benefit from our decades of professional liability underwriting experience, our fair and efficient claims handling and our long-term commitment to the marketplace,” said John T. Burrows, Senior Vice President of XL Insurance’s Professional group. “XL Insurance’s association with National Indemnity brings together our collective strengths to support our clients’ long-term professional liability needs. This is especially critical in today’s economic environment.”XL Insurance is a leading provider of “Side A” Directors & Officers coverage. XL Insurance’s “Side A” coverage provides directors and officers with personal asset protection in situations when other sources of insurance or indemnification are unavailable. The coverage, underwritten by XL Specialty Insurance Company, can be tailored to provide dedicated coverage to Special Board Committees, Audit Committees, Outside Directors, or any other D&O sub-group facing increased scrutiny and potential liability in today's business environment. XL Insurance’s coverage may also be crafted to provide targeted coverage for an individual in his/her role as Director or Officer across one or more unrelated firms.About XL Insurance"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. Coverage is available in nearly all jurisdictions. More information about XL Capital Ltd is available at www.xlgroup.com.
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