Allied World U.S. Announces Defense Base Act Insurance

Allied World U.S. Announces Defense Base Act Insurance

PEMBROKE, Bermuda, Oct. 15 /PRNewswire-FirstCall/ -- Allied World National Assurance Company, a member company of Allied World Assurance Company Holdings, Ltd (NYSE: AWH) today introduced its new Defense Base Act (DBA) coverage, comprehensive workers compensation insurance geared towards U.S. citizen, Third Country National and Local National employees working overseas on contracts for agencies of the U.S. Government.

"Defense Base Act coverage is an integral part in the continuing growth of Allied World's strategy to be a specialty Property and Casualty company. Our DBA product leverages over 20 years of DBA-specific knowledge and expertise, bringing to market an offering that focuses on the critical exposures contractors' face when doing work in difficult situations around the world," commented Gordon Knight, President, Allied World U.S.

"Allied World National Assurance Company decided to enter the DBA insurance market as an alternative to the very limited existing market for this business. It is our belief that another insurance option for contractors will be welcomed by brokers and the ultimate consumer of this insurance, the U.S. Government. Since DBA insurance is required for all employees working under a contract entered into or approved and financed by any executive department or agency of the U.S. Government, we expect the demand for this product to continue," commented Kevin Behan, Senior Vice President, Allied World Casualty.

With the increase in work related to providing outsourced services to the U.S. Military and Governmental agencies around the world, Allied World recognizes the demand for enhanced DBA claims support. To provide global coverage of the highest caliber, Allied World has partnered with Broadspire, a subsidiary of Crawford & Company, a renowned industry leader with 68 years of claims management experience and a very broad global presence.

Together Allied World and Broadspire offer the most inclusive, integrated platform of claim handling and case management services in the industry. This coverage is available for almost all types of contractors that require DBA insurance.

     For more information, please contact:      Kevin Behan     Senior Vice President, Allied World Casualty     [email protected]     646-794-0511 

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, the United States and Europe and Hong Kong. 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 Broadspire

Broadspire, a leading third-party administrator for employers and insurance companies, offers a broad array of customized claim and medical management services designed to increase employee productivity and contain costs. Broadspire's services include workers' compensation, auto/motor and general liability claims management; employers', public and product liability claims management; medical and field case management; integrated workers' compensation and disability management programs; and risk and safety consulting. Broadspire, a Crawford company, is based in Atlanta, Ga., with more than 2,650 employees and a network of 85 locations throughout the United States (www.choosebroadspire.com) and Europe (www.Broadspire.eu), including the United Kingdom (www.BroadspireTPA.co.uk).

About Crawford & Company

Based in Atlanta, Ga., Crawford & Company (www.crawfordandcompany.com) is the world's largest independent provider of claims management solutions to the risk management and insurance industry as well as self-insured entities, with a global network of more than 700 locations in 63 countries. The Crawford System of Claims Solutions(SM) offers comprehensive, integrated claims services, business process outsourcing and consulting services for major product lines including property and casualty claims management, workers' compensation claims and medical management, and legal settlement administration. The Company's shares are traded on the NYSE under the symbols CRDA and CRDB.

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 the ability to recognize the benefits of the Darwin Professional Underwriters, Inc. acquisition; 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 including those related to the ongoing financial crisis; 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

Allied World National Assurance Company, a member company of Allied World Assurance Company Holdings, Ltd today introduced its new Defense Base Act coverage, comprehensive workers compensation insurance geared towards U.S. citizen, Third Country National and Local National employees working overseas on contracts for agencies of the U.S. Government. <ne-topic code="SOFFINAN_A" source="AMX" confidence="100" relevance="990" />