NEW YORK, Thursday, December 9th 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Chartis today announced that it has expanded its Passport service platform to include three additional products from its Executive Liability Division that are specifically designed for financial institutions: Investment Management Insurance, Private Equity Professional EdgeSM and Bankers Professional Liability Insurance. Passport allows multinational firms to seamlessly address international exposures through the issuance of locally-compliant policies in foreign jurisdictions through Chartis insurers’ offices worldwide.
With these latest additions to the Passport global service platform, the Chartis insurers are offering investment management firms, private equity and venture capital firms, and banks streamlined access to both management and professional liability insurance aligned with local laws, regulations and business practices worldwide. Policies are issued in the foreign jurisdictions where the insured operates through Chartis’ extensive global network. Along with indigenous coverage, policyholders are also provided with secure access to Chartis’ locally based claims and litigation management resources around the world.
“Today, many investment management, private equity and venture capital firms raise funds and invest capital worldwide, exposing their organization and executives to unique risks in multiple foreign jurisdictions. By offering locally-admitted management and professional liability policies, the Chartis insurers are providing a simplified way for financial industry professionals to secure high quality coverage to address global risks,” said Brian Benjamin, President of Executive Liability’s Financial Institutions Division.
These additional products enhance the existing Passport service available for financial institutions seeking local policies for their foreign directors and officers, employment, fiduciary and fidelity exposures around the globe.
The Chartis insurers have been a leading underwriter of management and professional liability insurance for financial institutions for nearly 40 years. Their extensive global network includes management and professional liability specialists with in-depth knowledge of local liability climates, and the ability to tailor coverage to optimally address the management and professional liability exposures of various jurisdictions around the globe.
For more information on Passport for financial institutions risks, please send an e-mail to executiveliability@chartisinsurance.com or visit www.chartisinsurance.com.
About Chartis
Chartis is a world leading property-casualty and general insurance organization serving more than 45 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.
For media enquiries, please contact:
Chartis
Marie Ali,
+1-212-458-2536
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