Covers up to $25 million on an admitted or non-admitted basis
Allied World Assurance Company (AWA), a member of Allied World Assurance Company Holdings, (AWH), has introduced Real Estate Suite. Its a package of coverage enhancements to its umbrella and excess casualty products, designed to meet the needs of the Hospitality and Real Estate industry.
According to AWA, the Real Estate Suite is expected to provide five industry-specific coverage enhancements, from which, third party discrimination and pollution are offered regardless of whether the underlying insurance provides similar coverage. Three additional coverages include: resultant bodily injury or property damage arising out of professional services, expanded Broad Form Named Insured wording, and a per location aggregate limit for each insured location.
Gordon Knight, President, Allied World US, said: “Real Estate Suite offers coverage enhancements that both address the needs of a dynamic market and differentiate Allied World as an innovative and responsive insurer.”
The company said that the coverage is specifically designed for the commercial property owners/operators, hospitality (hotels, resorts), real estate investment trusts, asset managers, real estate advisors, and residential real estate.