ZUG, Switzerland--(BUSINESS WIRE)--
Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today the launch of a new Habitational and Hospitality Program between Allied World North America and Walnut Advisory Corporation. The property and casualty insurance program offers coverage for hotels, motels, apartments, condominiums, garden style co-ops, and a variety of mixed schedules. The Habitational and Hospitality Program insurance coverage underwritten by Allied World includes a property and commercial general liability package, as well as standalone property.
The coverage is offered on a non-admitted basis nationwide except for in Florida, Texas, and Alaska.
Grace Meek, Senior Vice President, Programs for Allied World, commented, “We have worked with Walnut Advisory Corporation to design a competitive offering for the habitational and hospitality industries.”
Ariel Hessing, President, Walnut Advisory Corporation, added, “We are excited to work with Allied World’s Programs team as their program underwriting expertise paired with our years of experience in this class will help us grow this Program.”
Walnut Advisory Corporation is a privately held, independent Managing General Underwriting Office and Program Administrator located in Warren, New Jersey. The company was founded in 1974 and is a leader in the Habitational industry.
For more information, please contact Grace Meek at [email protected].
About Allied World
Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers superior client service through a global network of offices and branches. All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and our Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and AA- by Fitch.
Please visit the following for further information on Allied World: Web: www.awac.com | Facebook: www.facebook.com/alliedworld | LinkedIn: https://www.linkedin.com/company/allied-world
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 adequacy of our loss reserves; negative rating agency actions; greater frequency or severity of unpredictable catastrophic events; the impact of acts of terrorism and acts of war; 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.
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