ZUG, Switzerland, Jan. 30, 2013 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Allied World U.S. and The Mechanic Group, Inc. have entered into an agreement to provide primary and excess liability insurance products to security guard, electronic security-alarm and investigation firms. The program, subject to underwriting, will also consider security training schools, security consultants, building maintenance and intelligence firms. Available nationwide, this program delivers a liability insurance product that combines general and professional liability into one convenient policy form.
Grace Meek, Senior Vice President, U.S. Programs, stated, "The Mechanic Group has been a leader in providing comprehensive insurance coverage for the private security and investigation industry for more than 24 years. The firm delivers a superior level of service based on the partners' extensive knowledge of the industry and a strong commitment to their clients. We look forward to working with them and the rest of The Mechanic Group team to build out this book of business."
"We are excited to offer a primary and excess liability insurance product with the same insurer to our clients. This is another important step in our commitment to continually upgrade our level of service and insurance programs," said Marc Katz, a Principal at The Mechanic Group. "Allied World is a terrific insurance company with expertise, intellectual capital and integrity at every level of its organization. We could not be happier with our relationship going forward with Allied World and its team."
For more information on this program, please contact Marc Katz at 1.800.214.0207, ext. 105 or mkatz@mechanicgroup.com
About Allied World Assurance Company
Allied World Assurance Company Holdings, AG, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering 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 Fitch. Please visit www.awac.com for further information on Allied World.
About The Mechanic Group
For more than twenty years, The Mechanic Group has specialized in delivering custom-built insurance programs to Security Guard, Private Investigative, Background Screening and Alarm & Electronic Security firms. They are the leading risk management partner to the private security and investigative community.
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 impact of acts of terrorism and acts of war; greater frequency or severity of unpredictable catastrophic events; negative rating agency actions; the adequacy of our loss reserves; 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.
SOURCE Allied World Assurance Company Holdings, AG