Philadelphia Insurance Cos. Notes Addition of New Public Library Coverage

August 30, 2005

Philadelphia Insurance Companies announced the addition of Public Library Coverage to their existing Public Entity Product.

The policy provides coverage for property, automobile, general liability, inland marine, crime, boiler and machinery and umbrella lines of business for Public Libraries.

Eligible Public Entity classes are individual municipalities, individual
municipal water and sewer authorities and Public Libraries serving a
population of 50,000 or less and located greater than 10 miles from any coastal body of water.

General Liability and Automobile Liability limits are available up to $1.0 million. Umbrella liability limits of up to $10.0 million are available. Large in-house property capacity exists which allows Philadelphia Insurance Companies to write virtually any public entity property exposure that meets our underwriting standards.

Doug Gaudet, vice president of Underwriting-Commercial Lines, commented, “Public Libraries are a part of the public entity market that are often overlooked yet are excellent business. Our Ultimate Cover policy provides the type of valuable paper and records, fine art and glass coverage these accounts need, so we are well positioned to compete in this segment.”

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