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Special Section Sponsored by Target Markets Program Administrators Association XL Insurance Programs XL Capital, Ltd., was founded in 1986 as EXEL Limited by 68 of the world’s largest global corporations in response to a severe shortage of liability insurance in the United States. The firm’s insurance company, known as XL Insurance (Bermuda), Ltd., provided excess liability insurance coverage for large commercial customers, drawn principally from Fortune 1000/FTSE 100 companies. Over the past decade, XL Capital, Ltd., has expanded through a series of strategic mergers, acquisitions and start-ups, establishing itself as a leading provider of insurance and reinsurance products throughout the world. XL Insurance’s programs division is a result of this strategic growth and today they partner with insurance administrators to offer specialized insurance coverages to distinct market segments. These programs provide property and casualty, warranty, and niche market coverages to various industries. The programs unit currently manages total insurance premiums in excess of $300 million. People and partnerships As an A.M. Best A+ rated carrier, XL Insurance’s programs division partners with insurance program administrators to offer specialized insurance coverage programs to distinct market segments. These programs provide specialty, property and casualty, and warranty coverages through administrators who demonstrate expertise in the various industries they serve. Specific products available include general liability and E&O, property, auto, and umbrella coverages. The organization underwrites profitable national, regional and state specific programs that offer product differentiation through coverage, class of business or competition. Programs are written on an admitted or nonadmitted basis. Key strengths XL Insurance brings to the table are underwriting expertise, especially where highly specialized underwriting is required, as well as financial strength. According to Hartman, “XL Insurance offers the market strength and stability that program clients demand.” The organization finds itself working with program administrators that share many of its values about underwriting. “They place a high value on technical expertise and loss prevention education and services, which can help clients minimize their risk exposures,” Hartman adds. XL Insurance seeks program administrator partners who distinguish themselves as market leaders through industry knowledge, service and professionalism. “We work with professionals who are sought out as market innovators and leaders,” Hartman explains. “A program administrator’s expertise, coupled with XL Insurance’s financial strength and integrity, creates a strong team in the delivery and administration of an effective insurance program.” Supporting the Association XL Insurance has been involved with Target Markets since its inception, and officially joined the organization the year of its launch. This year, XL Insurance Programs is proud to sponsor the annual summit’s keynote speaker, Steve Forbes. This past fall, XL Capital and its insurance and reinsurance segments hosted its first ever risk-focused symposium in the United States. The XL Capital Congress, as it was called, offered an opportunity for XL clients to hear from thought provoking international speakers, such as Mr. Forbes, about major economic, political and social issues. “This helped our partners better understand the changing face of risk and its evolving impact on the world,” Hartman says. “We are pleased to carry on these educational discussions and debates by sponsoring Mr. Forbes’ presentation to the Target Markets Association.” → |
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