EXTON, Pa., Sept. 15, 2016 /PRNewswire/ -- To address the
rapid change happening in the design professional industry, XL
Catlin has improved its Design Professional insurance policy form
to effectively address architects', engineers' and other design
businesses' changing professional liability insurance needs.
According to Doug Strong, Chief
Underwriting Officer of XL Catlin's Design Professional insurance
business in North America,
"Today's design leaders find themselves in a dynamic environment.
Shifting customer needs, integration of emerging technologies and
the changing landscape of the professional work force continue to
create challenges. To help meet these challenges and
reduce their exposures, we've carefully crafted an enhanced policy
form that takes the industry's evolving business and operational
environment, and subsequent risks, into
consideration."
XL Catlin's newly enhanced Design Professional liability policy
form enhancements include:
- Improved coverage for exposures related to 3D printing and
other computer-assisted design technologies (beyond BIM),
- More clearly affirmed coverage for pro bono services, in
recognition of our insureds' expanding involvement with non-profit
organizations in their communities.
- Coverage for data collected or otherwise covered work product
derived with the assistance of drones used in conjunction with
professional services.
- Added crisis management coverage which provides up to
$30,000 per policy year for public
relations expenses related to a "crisis event."
- Increased limits for defendant reimbursement
- Increased disciplinary, regulatory and administrative expense
supplements.
XL Catlin's Design Professional business provides professional
liability insurance for architects, engineers and design
consultants. Coverage is available for firms of all sizes and
disciplines and is accompanied by a variety of loss prevention
assistance and risk management assistance including continuing
education courses and access to XL Catlin's Contract eGuide
to help firms incorporate strong contract language.
About XL Catlin Insurance Operations
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
Ltd.'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