Georgia-based AXIS U.S. Insurance announced that AXIS Professional Liability (AXIS PRO) has appointed Media/Professional Insurance to serve as managing general underwriter for certain miscellaneous professional liability (MPL) lines of business.
Beginning Jan. 1, 2005, AXIS will become the exclusive carrier for three existing Media/Professional Insurance programs: The Specialty E&O Plan, The CyberLiability Plus Insurance Program and the Custom Pro E&O Program.
John Kuhn, executive vice president and AXIS global leader for Professional Lines, noted, “Media/Pro has an excellent reputation in the industry and they have a proven record of success spanning 25 years, making them a top market for MPL coverage. Their underwriting culture is consistent with the disciplined way we run our business, so we feel this is a very good fit from a management standpoint. We look forward to enhancing our Professional Lines product portfolio with these quality programs.”
As managing general underwriter, Media/Professional will underwrite, administer, market and handle claims on behalf of AXIS for:
— The Specialty E&O Plan – Errors and omissions coverage for more than 100 defined business classes, as well as for one-of-a-kind MPL risks.
— The CyberLiability Plus Insurance Program – E&O coverage for internet access providers; website developers, designers and consultants; web owners; content providers; internet/intranet/extranet hosts, managers, administrators and consultants; cyberspace software developers; companies engaged in e-commerce; and other companies whose principal business involves the dissemination of information and/or performance of services utilizing on-line technology.
— The Custom Pro E&O Program – E&O coverage for companies with annual revenues in excess of $250 million, and media liability coverage for companies with annual revenues in excess of $125 million.
Coverage for each of these programs will be provided by the AXIS U.S. Insurance companies, rated “A” (Excellent) by A.M. Best and “A” (Strong) by Standard & Poor’s for claims-paying ability.
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