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Press release from PR Newswire

New Managed Care Program Announced By OneBeacon Professional Insurance

Monday, October 15, 2012

New Managed Care Program Announced By OneBeacon Professional Insurance14:00 EDT Monday, October 15, 2012MINNETONKA, Minn., Oct. 15, 2012 /PRNewswire/ -- OneBeacon Professional Insurance ("OBPI"), a member of OneBeacon Insurance Group (NYSE: OB), today announced it has established an underwriting relationship with Managed Care Services, a division of Swett & Crawford.  OneBeacon and Managed Care Services have joined forces to capitalize on the deep expertise within both organizations to create liability insurance solutions for Managed Care Organizations.Susan Angelo, Senior Vice President and Managed Care Division Leader for OneBeacon Professional Insurance said, "Swett & Crawford is at the forefront of underwriting Managed Care Organizations, and its longevity in the market provides stability in this changing environment.  Its experience coupled with our products will provide clients with solutions for their complex needs." This Program Offers:Subpoena defense expense coverage available by endorsement Easy to understand language Broader coverage that responds to new exposures in the evolving health care industry Definition of Managed Care Activity expanded for potential new areas of risk, including calculation of medical loss ratio with related distribution and Quality Improvement Organization Programs "Swett & Crawford has been a pioneer in the managed care segment, and we recognize the work that OneBeacon Professional Insurance has done to bring new products to market.  Together, we are committed to understanding the ever-changing issues facing the managed care industry and creating cutting-edge solutions for these organizations," said Molly Shepard, Senior Vice President, Managed Care Services.While brokers with Managed Care business and an existing relationship with OneBeacon Professional Insurance will continue to have direct access to OBPI and its Managed Care underwriters, such brokers will have the option to use Managed Care Services in a wholesale type capacity if they choose.Please refer to the actual policy for exact coverage descriptions and limits; exclusions and deductibles may apply. Coverages are subject to policy terms and conditions and may not be available in all states. The policies will be primarily written by one of the following insurance companies: Atlantic Specialty Insurance Company and Homeland Insurance Company of New York.About OneBeacon Professional Insurance: OneBeacon Professional Insurance is a member of OneBeacon Insurance Group that specializes in professional liability solutions for targeted industries including hospitals, long-term care facilities, medical facilities, physician groups, media organizations, lawyers, real estate professionals, design professionals, financial services and technology providers. Additionally, OneBeacon Professional Insurance provides employment practices liability insurance, management liability and tailored products for complex organizations including health care provider excess insurance and HMO reinsurance. General liability, property and workers compensation coverages are also available for financial institutions. About OneBeacon: OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB." OneBeacon's underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment. OneBeacon's solutions target professional liability; ocean and inland marine; collector cars and boats; energy; entertainment, sports and leisure; excess property; environmental; group accident; programs; public entities; commercial surety; technology; and tuition refund. For further information about our products and services visit: www.onebeacon.com and to remain up to date on OneBeacon's news, follow us on Twitter @OneBeaconIns or visit our online newsroom: www.onebeacon.com/newsroom.About Swett & Crawford: MCS has been an underwriting division of Swett & Crawford for almost 40 years. Swett & Crawford, the nation's oldest wholesale intermediary, has 98 years of experience in helping to mitigate the risks of doing business here and around the globe.  Headquartered in Atlanta, Georgia, the blended strength of Swett & Crawford and Cooper Gay, with a combined $3.5 billion in premiums, delivers the world's largest global wholesale brokerage and reinsurance organization with more than 1400 insurance professionals in 63 offices on five continents.Swett & Crawford serves independent agents and brokers through specialized Property, Casualty, Oil & Gas/Energy, Professional Services, Transportation, Reinsurance and Underwriting Practice Groups.  These groups provide access to commercial insurance products and programs, including property and casualty coverages, products liability, reinsurance, professional liability, commercial and public auto liability as well as a host of customized binding authorities and exclusive programs tailored to specific industries, businesses and professionals.Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995This press release may contain "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. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to OneBeacon's:change in book value per share or return on equity; business strategy; financial and operating targets or plans; incurred loss and loss adjustment expenses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance; projections of revenues, income (or loss), earnings (or loss) per share, dividends, market share or other financial forecasts; expansion and growth of our business and operations; and future capital expenditures.These statements are based on certain assumptions and analyses made by OneBeacon in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including: claims arising from catastrophic events, such as hurricanes, windstorms, earthquakes, floods, or terrorist attacks; recorded loss and loss adjustment expense reserves subsequently proving to have been inadequate; the continued availability and cost of reinsurance coverage; the continued availability of capital and financing; general economic, market or business conditions; business opportunities (or lack thereof) that may be presented to it and pursued; competitive forces, including the conduct of other property and casualty insurers and agents; changes in domestic or foreign laws or regulations, or their interpretation, applicable to OneBeacon, its competitors, its agents or its customers; an economic downturn or other economic conditions adversely affecting its financial position including stock market volatility; actions taken by ratings agencies from time to time, such as financial strength or credit ratings downgrades or placing ratings on negative watch; the risks that are described from time to time in OneBeacon's filings with the Securities and Exchange Commission, including but not limited to OneBeacon's Annual Report on the Form 10-K for the fiscal year ended December 31, 2011 filed February 28, 2012.Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by OneBeacon will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, OneBeacon or its business or operations. OneBeacon assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.SOURCE OneBeacon Insurance GroupFor further information: Sasha Valasek, OneBeacon, +1-781-332-7165, svalasek@onebeacon.com, www.onebeaconpro.com; or Jennifer Pinto, Swett & Crawford, +1-212-618-0182, Jennifer_pinto@swett.com