Press release from Business Wire
Alteris Offers New WaterPlus Program in Partnership with Allied World
Tuesday, October 02, 2012
BOSTON (Business Wire) -- Alteris Inc., a services-oriented, complete solutions provider for the managing general agency community and a wholly-owned subsidiary of Argo Group International Holdings, Ltd. (NasdaqGS: AGII), announced today the launch of an expanded WaterPlus Program in partnership with Allied World Assurance Company Holdings, AG (“Allied World”).
WaterPlus, which will be underwritten by Allied World U.S. insurance subsidiaries, is tailored specifically to special-service districts with an emphasis on water-related entities. The program will be managed through Alteris Insurance Services in its San Francisco and Boston offices under the direction of Strategic Markets Vice President Paul Fuller.
“Building off the reputational success of our Metroguard Program, WaterPlus melds intellectual capital and best-in-class expertise with a time-tested distribution platform,” said Mr. Fuller. “We're able to offer proprietary products specific to the classes we're targeting.”
The WaterPlus Program combines association interface and rural broker distribution in all states, with the exception of Alaska, Florida and Hawaii. Coverages include package, public officials and management liability, employment practices, automobile, excess, and Privacy 101℠. Tailored enhancements include failure to supply, waterborne asbestos, inverse condemnation, water/wastewater errors and omissions, first-and-third-party pollution, blanket property, SCADA upgrades, and contamination release.
“WaterPlus blends the financial security and global resources of Allied World with the niche-specific underwriting, distribution, risk control, and claims expertise of Alteris,” said Alteris President Hilbert “Van” Schenck II. “We're pleased to join forces with Allied World and to reestablish our presence in this important and expanding market.”
Grace Meek, Senior Vice President, Programs for Allied World U.S., commented, “We are thrilled to partner with Alteris to meet the unique needs of rural water districts across the U.S. Alteris has extensive knowledge of this industry segment and their expertise will be greatly beneficial as we look to build this program nationally.”
Alteris Inc and Alteris Insurance Services Inc., members of Argo Group International Holdings, Ltd. (NasdaqGS: AGII), provide services-oriented, complete solutions, operating through three business divisions: Strategic Markets, Alternative Risk, and Commercial Subsets. Alteris offers managing general agencies and insureds access to a broad array of exclusive risk solutions for specialty programs and alternative risks including program placement, risk bearing solutions, capital support, strategic alliances, policy systems solutions, claims services, and reinsurance solutions. Information on Alteris is available at www.alterisus.com.
ABOUT ALLIED WORLD ASSURANCE COMPANY
Allied World Assurance Company Holdings, AG, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through a global network of offices and branches. All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and Fitch. Please visit www.awac.com for further information on Allied World.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NasdaqGS: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess & Surplus Lines, Commercial Specialty, International Specialty and Syndicate 1200. Argo Group's insurance subsidiaries are A. M. Best-rated 'A' (Excellent) (third highest rating out of 16 rating classifications) with a stable outlook, and Argo's U.S. insurance subsidiaries are Standard and Poor's-rated 'A-' (Strong) with a stable outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com.
This press release contains certain statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are qualified by the inherent risks and uncertainties surrounding future expectations generally and also may differ materially from actual future experience involving any one or more of such statements. For a more detailed discussion of such risks and uncertainties, see Argo Group's filings with the SEC. The inclusion of a forward-looking statement herein should not be regarded as a representation by Argo Group that Argo Group's objectives will be achieved. Argo Group undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
Argo Group International Holdings, Ltd.
Lisa Scannell, 617-235-6138
VP, Marketing & Communications