Posted on 07 Jun 2013 by Neilson
XL Group P.L.C.'s excess liability division is set to expand its umbrella and excess liability coverage to upper middle-market businesses, the insurer announced Wednesday.
The coverage will be available in all 50 states, according to XL.
A limit has been set of up to $25 million for umbrella policies and up to $50 million for excess liability programs, according to the statement.
XL defines upper middle market as companies with annual revenues less than $1 billion.
The insurer will use its experience in providing liability coverage and umbrella protection to large corporations to offer coverage to more businesses, Lorraine Seib, New York-based president of XL global excess liability, said in the statement.
"For the upper middle market, I believe, we're the perfect size," Ms. Seib said in the statement. "Not only can we offer the individual attention they should expect when seeking quality excess protection, we also bring access to significant domestic and global capacity, combined with more than 25 years of proven experience managing excess coverage for the largest of companies and a dedicated claims team."