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Published on : Saturday, December 19, 2015
XL Catlin’s North America Aviation insurance business has increased its aircraft hull and liability limits by 50 percent to accommodate companies with aviation risks in the US and Canada looking to insure with one insurance carrier. XL Catlin’s aircraft hull policy limits have climbed to USD 75 million from USD 50 million and its liability limits are currently USD 750 million, increased from USD 500 million. This expansion of limits also applies to XL Catlin’s Aircraft Products Liability and General Liability offerings that are placed on a 100% basis.
According to Paul Tuhy, Chief Underwriting Officer of XL Catlin’s Global Aerospace business, “Having a well-established global in-house team of underwriters and claims specialists with a deep understanding of aviation risks, we are well equipped to distribute our new limits.”
“These new expanded limits aim to effectively address the exposures and insurance requirements of an extended client base for us. In addition, our goal is to provide our clients with the opportunity to tap into XL Catlin’s extensive multi-line coverage offering, global expertise and dedicated aviation claims team as they need it,” explained Eric Donofrio, XL Catlin’s Chief Underwriting Officer for Aerospace in the Americas Region.
Mr. Tuhy added: “We’re intent on taking a top three position in the global aviation insurance market and, given our seasoned in-house underwriting and claims team, these new limits, our continued global growth, and XL Catlin’s extensive client base outside of aviation, we are well positioned to reach that top spot.”
With underwriters and dedicated aviation claims specialists based in New York, Boston, Chicago, San Francisco, Toronto and Calgary, XL Catlin’s North America aviation team offers a suite of aviation insurance coverages for traditional and specialized companies, including major and regional airlines and corporate fleets, through to component manufacturers and fixed-base airport operators.