Switzerland-based specialty insurance and reinsurance company Allied World Company Holdings (AWH) has launched a new professional indemnity product developed especially for the Asia-Pacific marketplace.
Launched by Allied World’s Asia-Pacific platform, Allied World Agility Primary Professional Indemnity offers protection for professionals. It enables the users to aggregate losses when there are many small claims within a policy period.
Allied World Bermuda senior vice president and professional liability international product line manager Ed Moresco said since launching operations in Asia, the company has been committed to product innovation.
Moresco added that the new professional liability product delivers substantive structural policy enhancements that will benefit its partners and clients, and offer complete primary professional indemnity coverage for commercial risks.
Allied World Asia-Pacific vice president and professional lines head Ben Howell commented, "This new product provides protection against larger claims and also responds to significant losses from multiple smaller claims."
Allied World Assurance Company, through its subsidiaries and brand Allied World, offers property, casualty, specialty insurance, and reinsurance services.