PEMBROKE, Bermuda, July 28 /PRNewswire-FirstCall/ -- Allied World Assurance Company Holdings, Ltd (NYSE:AWH), announced today through its U.S.-based Darwin subsidiary a new Benefit Plan Purchaser Liability policy targeted for employers who purchase benefits on behalf of their employees, including large manufacturing companies, banks, unions and more. Gordon Knight, President of Allied World U.S., commented, "In keeping with our goal of providing innovative and tailored products to our clients, we are utilizing our extensive knowledge of the healthcare market to craft a new type of coverage for organizations outside the healthcare spectrum. These businesses are now increasingly exposed to healthcare benefit administration risks, and are typically not covered for these liabilities by their existing E&O, D&O and Fiduciary policies." "Additionally, we understand how important it is that a carrier has financial strength and stability. With our conservative balance sheet and solid capital base, as well as our recently reaffirmed A.M. Best A (Excellent) rating, we believe we are in a superior position to withstand future economic upheavals and provide our insureds with the protection they need." The Benefit Plan Purchaser policy provides worldwide coverage and offers up to $25M in capacity. It is available on either a duty-to-defend or indemnity basis and provides Errors and Omissions (E&O) coverage for any healthcare, vision, dental, disability, worker's compensation, prescription benefit management or flexible spending plan that is offered to participants. The policy provides coverage for a number of services, including: provider selection, utilization review, advertising, marketing or selling and claims services. It also covers administrative duties associated with retirement or pension benefits. Susan Chmieleski, Senior Vice President, Healthcare Product & Risk Management, said, "As the first carrier to develop a new benefit plan purchaser form in ten years, we are incorporating newer issues, like regulatory concerns, that weren't a priority ten years ago. This is a testament to our dedication to the needs of our clients, and to the knowledge and expertise our healthcare team brings to this unique offering." For more information on Allied World's Benefit Plan Purchaser product, please contact Kim Lloyd, Vice President, Healthcare Management Liability Product Manager, at . About Darwin and Allied World Assurance Company Darwin, a Farmington, CT-based specialty insurance group focused on the professional liability insurance market, underwrites errors and omissions liability insurance, medical malpractice liability insurance and other specialty coverages. Darwin member companies (Darwin National Assurance and Darwin Select Insurance) are subsidiaries of Allied World Assurance Company Holdings, Ltd, a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through offices in Bermuda, the United States, Europe and Hong Kong. Allied World's insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company. For further information on Darwin and Allied World, please visit our websites at http://www.darwinpro.com/ and http://www.awac.com/. Cautionary Statement Regarding Forward-Looking Statements Any forward-looking statements made in this press release reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, our forward-looking statements could be affected by the ability to recognize the benefits of the Darwin acquisition; pricing and policy term trends; increased competition; the impact of acts of terrorism and acts of war; greater frequency or severity of unpredictable catastrophic events; investigations of market practices and related settlement terms; negative rating agency actions; the adequacy of our loss reserves; the company or its subsidiaries becoming subject to significant income taxes in the United States or elsewhere; changes in regulations or tax laws; changes in the availability, cost or quality of reinsurance or retrocessional coverage; adverse general economic conditions including those related to the ongoing financial crisis; and judicial, legislative, political and other governmental developments, as well as management's response to these factors, and other factors identified in our filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We are under no obligation (and expressly disclaim any such obligation) to update or revise any forward-looking statement that may be made from time to time, whether as a result of new information, future developments or otherwise. DATASOURCE: Allied World Assurance Company Holdings, Ltd CONTACT: Media, Faye Cook, VP, Marketing & Communications, +1-646-794-0543, , or Investors, Keith J. Lennox, Investor Relations Officer, +1-646-794-0750, , both of Allied World Web site: http://www.awac.com/ http://www.darwinpro.com/

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