AXIS Capital Holdings Limited today announced that AXIS Insurance has launched AXIS Privatus® Platinum, a new modular management liability policy that offers flexible insurance solutions developed specifically for managing the changing needs and risks that privately held companies face in today's complex legal and economic environment.
AXIS Privatus® Platinum includes AXIS Insurance's exclusive cybersecurity and breach response coverage - "PrivaSure" - as well as the ability to select from up to five additional coverage areas: Management and Entity Liability, Fiduciary Liability, Employment Practices Liability, Workplace Violence, and Crime. Private companies can secure any or all coverage parts on a separate or shared-limits basis. The policy is currently admitted in 44 states.
The launch of AXIS Privatus® Platinum is representative of AXIS Insurance's commitment to developing innovative and custom products and policies that enable the delivery of comprehensive risk management solutions to private-company clients. This new modular product brings a level of flexibility and customization to management liability insurance that has previously not been available to most private businesses.
"From cybersecurity to workplace violence, private businesses face a growing list of emerging and traditional risks that require a new, more flexible approach," said Mark Paccione, Executive Vice President at AXIS Insurance. "We created AXIS Privatus® Platinum to provide private companies with flexible coverage to manage the changing risks in today's evolving business environment. In addition to offering comprehensive coverage, AXIS helps insureds manage and mitigate their risks by delivering superior claims management services."
Private companies interested in coverage should contact their insurance broker, or Kelly Barron, AXIS Privatus® Platinum Product Manager, at email@example.com.
About AXIS Capital
AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at December 31, 2016, of $6.3 billion and locations in Bermuda, the United States, Europe, Singapore, Middle East, Canada and Latin America. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A+" ("Superior") by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com.
About AXIS Insurance
AXIS Insurance - a business segment of AXIS Capital Holdings Limited (NYSE:AXS) - provides Property & Casualty, Professional Lines, Terrorism, Marine, Energy, Aviation, Credit & Political Risk, Environmental, Accident & Health coverages and other customized insurance solutions. Our products are offered through our distribution partners, which include wholesale brokers, retail brokers and designated managing general agents/underwriters ("MGAs"/"MGUs") in the U.S. and abroad. Coverages are backed by the financial strength and security of the AXIS Insurance Companies, rated "A+" (Strong) by Standard & Poor's and "A+" (Superior) XV by A.M. Best. For more information, visit our website at http://www.axiscapital.com/en-us/insurance.