ML+ provides flexible coverage available instantly via online platform
Sydney, 9th September 2021 – Arch Insurance Australia (Arch) has announced the launch of ML+, a comprehensive, flexible management liability coverage solution available via CoverHub, Arch’s online quote and bind platform.
ML+ offers a range of insurance options for private and unlisted public companies, sole traders, partnerships and not-for-profit organisations. Coverage includes D&O liability, company liability, employment practices liability, statutory liability and crime protection.
ML+ provides flexible coverage that can be tailored to the needs of SMEs as well as medium-to-large firms, with aggregate limits ranging from AU$1 million to AU$10 million. The solution is available via Arch’s CoverHub for SMEs domiciled in Australia and New Zealand with an annual turnover below AU$25 million. Companies with turnovers greater than AU$25 million can be quoted via referral to an Arch underwriter.
Commenting on the launch, Paula Ritchie, Underwriting Manager – Executive Assurance, Arch Insurance Australia, said: “Private and unlisted public companies face the same corporate and statutory risks as larger public companies yet can struggle to meet the costs associated with investigations and legal actions. ML+ provides essential protection against such costs that can be easily tailored to the insured’s specific needs. Delivered via our CoverHub platform and supported by our experienced team, it provides brokers instant access to comprehensive management liability cover for their clients.”
TAG WORDS
Arch Insurance Australia, management liability, CoverHub, ML+, SME
EDITOR’S NOTES
About Arch Insurance Australia
Arch Insurance Australia is part of Arch Insurance International. The company provides specialised insurance solutions across a wide range of industries and professions, operating across Accident & Health, Casualty, Financial Lines and Property product lines.
About Arch Insurance International
Arch Insurance International is part of Arch Capital Group Ltd. and includes Arch Insurance UK and the P&C insurance operations of Arch Insurance (EU) dac, as well as Arch’s insurance operations in Europe, Bermuda and Australia.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a publicly listed Bermuda exempted company with approximately $16.7 billion in capital at June 30, 2021, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
Cautionary Note Regarding Forward-looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward−looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward−looking statements, which reflect our current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward−looking statements.
Forward−looking statements can generally be identified by the use of forward−looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or their negative or variations or similar terminology. Forward−looking statements involve our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; the Company’s ability to successfully integrate, establish and maintain operating procedures as well as consummate acquisitions and integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the Company’s gross and net exposures; the failure of others to meet their obligations to the Company; changes in the method for determining the London Inter-bank Offered Rate (“LIBOR”) and the potential replacement of LIBOR and other factors identified in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward−looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward−looking statement, whether as a result of new information, future events or otherwise.
###
Source: Arch Insurance International
Media Contacts
Patrick Palmer
Head of Marketing and Communications, Arch Insurance International
M +44 7900 743664
Nigel Allen or Suzanne Hirst
PR agency – Allen & Clapham
M +44 7988 478824 / M +44 7988 140357