XL Catlin Enhances Services To Address Professional Risks
Zacks Investment Research | Aug 27, 2017 09:19PM ET
XL Group Ltd. (NYSE:XL) recently introduced two new enhancements in its professional liability insurance services, in its efforts to provide better insurance for professionals. This not only implies an expansion in professional insurance services but also includes Principal Protector Coverage for large design firms.
Technological advancements in the present have paved new ways of service delivery by architectural and engineering firms. Hence, the design sector is always on the verge of being exposed to evolving risks. Given the dependence of design professionals on technology in the day-to-day project management and client relationship activities, XL Catlin’s (the global brand name used by XL Group) Design Professional team is expected to be better armed to serve such customers with this newly added enhancement.
The professional services provided by the design professional team are inclusive of existing and new evolving technologies that provide various services such as development of software programs, system and applications, database design and maintenance, warehousing data, digital tools etc. It is also involved in website designing as well as hosting various data and application sites. The company would thus cater to such risks by expanding its insurance coverage.
XL Catlin has also introduced Principal Protector Coverage for large design firms, in order to support its clients’ corporate social responsibilities. This particular policy offers supplemental services beyond the firm’s policy limits for any present, former or retired employees of the firm for claims arising out of laxity by participating in non-profit entities.
XL Catlin has always been proactive in meeting its customers’ varying needs through several product upgrades, new product launches etc. Recently, XL Catlin introduced a new Safety Optimization and Aviation Resource Program or SOAR, for its select general aviation insurance clients. This professional insurance coverage is accompanied by a variety of loss-prevention assistance and risk-management assistance inclusive of educational courses and XL Catlin’s Contract eGuide.
The property and casualty (P&C) insurer has been improving its organic profile through strategic initiatives that will boost its client base and enhance its revenues at the same time.
Zacks Rank and Share Price Movement
XL Group, Ltd carries Zacks Rank #3 (Hold). Shares of XL Group have outperformed the Zacks Investment Research
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