|Chartis Introduces Excess Edge(SM)|
NEW YORK – November 30, 2009 – Chartis today announced the introduction of Excess EdgeSM, an insurance solution developed by its Executive Liability Division to improve the placement of follow form excess management and professional liability coverage. Excess Edge offers market-leading coverage on a form that reduces the administrative burden facing brokers and their clients when placing excess insurance for directors and officers liability, employment practices liability, fiduciary liability, errors and omissions liability, and other executive liability exposures.
The Excess Edge form was designed with concise language that streamlines policyholder obligations and eliminates unnecessary terms and conditions. In doing so, Excess Edge provides a better match to the followed coverage, allowing customers comfort that their carefully crafted primary coverage will be more accurately reflected in the excess layer. Customer access to the Excess Edge layer is provided through state-of-the-art recognition of erosion language built directly into the insuring clause, and the new “Changes” provision waives the endorsement requirement for certain post-issuance changes.
"Heavily layered coverage towers continue to pose challenges for brokers and their clients looking to place critical excess coverage," said Michael Smith, President of Executive Liability. "Excess Edge responds to our customers' need to more easily secure that coverage."
Chartis is a world leading property-casualty and general insurance organization serving more than 40 million clients in over 160 countries and jurisdictions. With a 90-year history, 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.