Allied World Assurance Company Expands Into Primary Contractors Pollution Liability Market

PEMBROKE, Bermuda, May 24 /PRNewswire-FirstCall/ -- Allied World Assurance Company Holdings, Ltd (NYSE: AWH) today announced that its subsidiaries, Allied World Assurance Company (U.S.) Inc. ("Allied World") and Allied World National Assurance Company ("Allied World National"), will begin underwriting primary contractors pollution liability coverage through Crump Insurance Services' Environmental Division  ("Crump P&C").

Allied World and Allied World National selected leading environmental liability expert Crump P&C as an underwriting manager to expand into the primary contractors pollution liability market.

Allied World Senior Vice President and Environmental product manager in the U.S., Ken Cornell, commented, "We are excited to offer this new contractors pollution program along with Crump P&C.  This innovative program provides our brokers and their clients with a fast, efficient means to access this valuable coverage."

Crump P&C Vice President of Environmental Services Greg Steinman stated, "This partnership with Allied World allows Crump to further expand upon our automated services for the benefit of our clients with access to a competitive program from a leading and trusted carrier in the specialty lines space.  The platform provides brokers access to complete online processing, allowing them to quote and bind eligible risks the same day."

Crump P&C will target both residential and commercial contracting risks including construction, installation, renovation, remediation and repair contractors with revenues of up to $50 million.  Business will be written on an occurrence form in all 50 states on a non-admitted basis with a primary capacity of $5 million.

For more information about this product please contact:  Crump Environmental Services at 877-247-9772 or [email protected]

About Allied World Assurance Company

Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through offices in Bermuda, Europe, Hong Kong, Singapore and the United States. Our insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company. For further information on Allied World, please visit our website at www.awac.com.

About Crump

Crump Insurance Services, Inc. (Crump P&C) is part of Crump Group, the nation's largest insurance wholesaler.  As the property & casualty insurance division of Crump Group, it is made up of Crump wholesale brokerage locations across the U.S. and in Bermuda (including the former Tri-City Brokerage) and Five Star Specialty Programs.  Crump P&C is a market leading independent wholesale distributor of property and casualty insurance, linking an extensive network of retail brokers and agents to products provided by over 150 leading insurance carriers. Crump P&C offers specialty underwriting capabilities, numerous in-house binding authorities, and supports the wholesale placement of a wide range of specialized commercial insurance solutions, including customized coverage for complex P&C risks, commercial and habitational real estate risks, products liability, high-limit property, catastrophe, and professional and medical liability. Its experienced brokers serve as a single connection point for its retail clients to access domestic and international insurance companies. Crump P&C offers customized insurance products as well as sophisticated system capabilities.  Acting as a program administrator for numerous P&C carriers, Crump P&C 's 5Star Specialty Programs develops and provides specialty underwriting for commercial insurance programs – including transportation related risks, workers' compensation solutions, professional liability, and more – matching insurance needs and market opportunities with the appropriate coverage.   Additional information is available at www.crumpins.com and www.5Starsp.com.

Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this press release reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, our forward-looking statements could be affected by pricing and policy term trends; increased competition; the impact of acts of terrorism and acts of war; greater frequency or severity of unpredictable catastrophic events; investigations of market practices and related settlement terms; negative rating agency actions; the adequacy of our loss reserves; the company or its subsidiaries becoming subject to significant income taxes in the United States or elsewhere; changes in regulations or tax laws; changes in the availability, cost or quality of reinsurance or retrocessional coverage; adverse general economic conditions; and judicial, legislative, political and other governmental developments, as well as management's response to these factors, and other factors identified in our filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We are under no obligation (and expressly disclaim any such obligation) to update or revise any forward-looking statement that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Allied World Assurance Company Holdings, Ltd