XL Specialty Targets Armored Car Industry with Multi-Line Program

June 15, 2006

XL Specialty Insurance Company has introduced a multi-line insurance program especially designed for the armored car industry and other business transporting high-value cargo.

The program was introduced this week at the Independent Armored Car Operators Association annual convention, held in Houston, Texas.

According to Sean Missal, an assistant vice president on the XL Insurance Fine Art and Specie team, most insurance companies offer one or two lines of coverage for this industry. Therefore companies must often work with multiple insurance companies to get the insurance coverage they need.

But XL’s new program includes a combination of Cash in Transit, property and casualty coverage and a single-source solution to address risk management needs.

“Specialized loss control, including fleet assistance, safety training, security surveys, accident investigation, is an integral part of the program,” he said. “Additionally, in the event of a claim, clients have 24-hour access to dedicated claims handling and technical expertise familiar with transportation and Cash in Transit risks.”

The program is designed for business involved in the transport, processing and storage of currency, securities, precious metals and diamonds, including armored carriers, courier operations and ATM servicing.

Source: XL Insurance

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