NEW YORK, April 27, 2011 /PRNewswire/ -- XL Insurance,
the global insurance operations of XL Group plc (NYSE: XL),
today announced XL WorldPath™, a set of global insurance
solutions for North America-based multinational companies with
cross-border insurance coverages to help address international
legal, regulatory and tax compliance considerations.
David Duclos, Chief Executive
Officer of XL's global insurance operations, said: "Continued
globalization is creating added complexities for risk managers.
They need to be prepared to effectively insure operations and
assets anywhere in the world, and remain compliant with all the
licensing, tax and regulatory requirements in each individual
market. This can be especially challenging as more companies
explore new business opportunities in emerging markets where there
is less familiarity with local requirements. XL WorldPath
provides options to address our clients' risk management needs
wherever they do business."
XL WorldPath™ is a set of solutions for
multinational companies to manage their Property, Casualty, and
Environmental insurance coverages globally. Working with
their clients and brokers, XL Insurance's global underwriting team
develop a global insurance program, structured to meet regulatory,
legal and tax requirements for their clients' operations around the
world.
According to Seraina Maag, Chief
Executive of XL Insurance's North America Property & Casualty
unit, "With XL WorldPath, XL Insurance brings together
our significant global capacity, underwriting skills and servicing
capabilities in more than 100 countries to offer clients options in
managing their global exposures."
"XL tracks and stays on top of information about entities,
markets, taxes, licensing, and lines of business requirements
throughout the world so that we can help our clients effectively
meet the local compliance requirements," Ms. Maag explained.
"XL WorldPath offers a comprehensive, integrated
approach, including loss prevention and claims management services,
for our clients' global risk management efforts. And through our
global claims platform, XL GlobalClaim™, our clients
gain access to high-quality, efficient data tracking and reporting
to help them monitor their exposures, aggregates and claims
activity globally."
About XL Insurance
XL Insurance is the global brand used by XL Group plc's
insurance companies and underwriting divisions offering property,
casualty, professional and specialty insurance products throughout
the world. More information about XL Insurance is available at
www.xlinsurance.com.
About XL
XL was formed in 1986 in response to the unmet risk management
needs of 68 of the world's largest companies. This year, as XL
celebrates its 25th anniversary, it remains the company clients
look to for innovative insurance and reinsurance solutions for
their most complex risks. XL Group plc, through its
subsidiaries, is a global insurance and reinsurance company
providing property, casualty, and specialty products to
industrial, commercial, and professional firms, insurance companies
and other enterprises on a worldwide basis. Its principal
offices are located at No. 1 Hatch Street Upper, 4th Floor,
Dublin 2, Ireland. More information about XL Group plc
is available at www.xlgroup.com
SOURCE XL Insurance