|Chartis Increases Construction Project Capacity to $250 Million|
NEW YORK – June 23, 2011 – The Chartis insurers today announced that they have doubled their capacity for construction projects from the Global Energy Property unit. With this increase in capacity, insureds will now be able to access up to $250 million of PML (probable maximum loss) capacity for construction projects, complementing Global Energy Property’s $250 million capacity for operational energy and manufacturing risks.
George Stratts, President of Global Property, said, “We believe this increased capacity represents yet another component of our industry-leading toolkit, and we are pleased with our enhanced capabilities to provide world-class solutions to our brokers and clients.”
Chartis is a world leading property-casualty and general insurance organization serving more than 70 million clients around the world. With one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence.
Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at http://www.chartisinsurance.com. All products are written by insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.