XL Catlin Expands Equipment Breakdown Insurance Capabilities in North America

NEW YORK, Nov. 9, 2015 /PRNewswire/ -- To meet the continued demand for standalone equipment breakdown insurance, XL Catlin's North America Property business has boosted its monoline equipment breakdown insurance capabilities with the expansion of its underwriting team in North America.

"Businesses rely on equipment to conduct business in many ways," according to Joseph Tocco, Chief Executive of XL Catlin's Americas region. "Since equipment is such a vital part of operations, a growing number of businesses choose to insure against equipment failure with standalone insurance coverage.  Others still prefer to package this protection with their commercial property insurance. Whichever option they favor, our larger, North American enhanced team of seasoned equipment breakdown underwriters and risk engineers is committed to delivering the attention and service that our clients need to keep their equipment and operations running smoothly."

"Our monoline equipment breakdown business has grown impressively since its inception in late 2011," noted Michele Sansone, President of XL Catlin's North America property business. "With continued demand for monoline equipment breakdown protection, and now, a team that many, including myself, would consider the best in the business, we're postured for more."

XL Catlin's Equipment Breakdown team's new underwriting recruits include:

• Amanda Hernandez in San Francisco, California. Ms. Hernandez brings more than a decade of equipment breakdown underwriting experience, most recently as the regional manager for Zurich's Global Corporate Property division.
• Amy Fox in St. Louis, Missouri. With 21 years of equipment breakdown underwriting, marketing and sales experience, Ms. Fox has a proven track record of experience working with clients throughout the Midwest.
• Richard Hajduk in Chicago, Illinois -- A 25-year veteran of the equipment breakdown insurance market, Mr. Hajduk brings extensive equipment breakdown underwriting experience for a wide variety of industries, from agricultural to food processing, from manufacturing to warehousing, among others.     

"With our extended geographic footprint and with Amanda, Amy and Richard on board, we look to continue on our path of profitable growth within our monoline equipment breakdown book," said Brian Strain, Senior Vice President and Head of Equipment Breakdown business for XL Catlin.  

XL Catlin's equipment breakdown coverage, Up+Running, provides protection against financial losses that result from the breakdown of equipment and result in business interruption, equipment repair, or replacement costs. 

About the XL Catlin Insurance Operations

The XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com.

About XL Catlin

XL Catlin is the global brand used by XL Group plc's (NYSE:XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.  Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.

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SOURCE XL Catlin