Liberty Mutual Introduces New Package Product for Middle Market

Liberty Mutual Introduces New Package Product for Middle Market

BOSTON--(BUSINESS WIRE)-- Agents and brokers serving the middle market can now access a new Liberty Mutual package product – Package Solution^™ – that features flexible and broad property coverages, provides the general liability coverage businesses need, and offers additional coverages that are tailor-made to suit specific industries. Package Solution^™ is a multi-line offering that combines a proprietary commercial property form with broad general liability, crime and/or inland marine coverages.

“Combining a package product with our industry-leading workers compensation offerings and strong service capabilities makes Liberty Mutual an even more attractive solution for agents and brokers serving the middle market,” notes David Blessing, Chief Underwriting Officer, Liberty Mutual Middle Market. “That’s the feedback we got from agents and brokers who pilot tested Package Solution^™. They felt that having broader property and general liability in a single package with easy to read forms made it easier to meet the needs of their clients.”

Agents and brokers also valued the product’s:

• Flexible property coverages, pricing, limits and deductibles – The proprietary property form offers business income, equipment breakdown and other coverages that typically require stand-alone forms and endorsements, in addition to 16 standard extensions and numerous optional endorsements
• Industry-specific coverages – Package Solution^â„¢ is available with 10 industry-specific endorsements that meet the distinct needs of retail, restaurant, hospitality, manufacturing and other industries
• Solution to common GL coverage needs – The new package product includes enhanced general liability coverage that addresses many common needs, such as named additional insured, unintentional failure to disclose, mental anguish with bodily injury and protection for the Good Samaritan acts of employees

Liberty Mutual backs the new Package Solution^â„¢ product with strong claims management, loss control, and account management services. More information on the new product can be seen at www.libertymutualgroup.com/packagesolution

Liberty Mutual launched its Middle Market strategic business unit in January 2009 to provide property and casualty insurance products exclusively through agents and brokers serving companies with total annual cost of risk between $150,000 and $1.5 million.

About Liberty Mutual Group

Boston-based Liberty Mutual Group is a diversified global insurer and fifth largest property and casualty insurer in the U.S. based on 2008 direct written premium. The Company also ranks 86th on the Fortune 500 list of largest corporations in the U.S. based on 2008 revenue. As of December 31, 2008, Liberty Mutual Group had $104.3 billion in consolidated assets, $94.2 billion in consolidated liabilities, and $28.9 billion in annual consolidated revenue.

Liberty Mutual Group offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, assumed reinsurance, fire, and surety.

Liberty Mutual Group (http://www.libertymutualgroup.com) employs over 45,000 people in more than 900 offices throughout the world.

Liberty Mutual

Richard Angevine, 617-574-6638

[email protected]

Source: Liberty Mutual Group

Copyright Business Wire 2009 Agents and brokers serving the middle market can now access a new Liberty Mutual package product - Package Solution - that features flexible and broad property coverages, provides the general liability coverage businesses need, and offers additional coverages that are tailor-made to suit specific industries.