XL Insurance Releases Contract Guide for Design Professionals
HAMILTON, BERMUDA - July 24, 2007
EXTON, Pennsylvania, July 24 -- XL Insurance, the global insurance operations of XL Capital Ltd (NYSE: XL), today released The XL Insurance Contract Guide for Design Professionals: A Risk Management Handbook for Architects and Engineers. The guidebook was produced by XL Insurance’s Design Professional group which offers professional liability insurance and loss prevention education programs for architects and engineers.According to Alex Blanco, Chief Underwriting Officer of XL Insurance’s Design Professional Group: “Leaders at well-managed design and construction firms recognize how critical a thorough understanding of the issues and trends in contracts, claims and practice management is to strengthening their business results.”The Contract Guide covers more than 100 topics of issue-driven discussions, claims scenarios, problem-solving strategies and contract language solutions. The 500-pages-plus Contract Guide is the result of more than two-and-a-half years’ research and writing, and represents almost 4,000 hours of work by more than 25 design professionals, insurance experts, claims managers and attorneys.“The contract guide has evolved into more of a practice management guide,” said Mr. Blanco. “Architects and engineers will find a lot of day-to-day management advice on topics ranging from financial management to hiring and training project managers. I believe its contents will be enormously valuable in helping architects and engineers navigate the complex business issues in today’s design professions.”Several Contract Guide chapters are dedicated to emerging trends such as green design and sustainability, building information modeling (BIM), offshore outsourcing, building commissioning and innovative design technology.“Design professionals know that staying current in design and construction means more than gaining the knowledge to participate,” said Mr. Blanco. “It requires a firm grasp of the claims environment accompanying these trends.”While the full Contract Guide is provided only to XL Insurance companies’ policyholders, any design professional can read the introductory section of the Contract Guide online. The first nine chapters, or Primer, can be viewed at . The Primer provides a high-level summary of contract concepts such as “Dealing with Risk” and “Negotiating a Contract”.”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 and its products is available at www.xlinsurance.com .XL Capital Group, through its operating subsidiaries, is a leading provider of global insurance and reinsurance coverages and services to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. As of March 31, 2007, XL Capital Ltd had consolidated assets of approximately $62.1 billion and consolidated shareholders’ equity of approximately $11.3 billion. More information about XL Capital Ltd is available at www.xlgroup.com .
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