NEW YORK, Thursday, October 21st 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Chartis today announced that it has expanded its Passport service platform to enable multinationals to efficiently access locally compliant Errors & Omissions (E&O) liability / Professional Indemnity (PI) insurance in 18 additional countries and jurisdictions. In addition, multinationals now have streamlined access through Passport to seven professional services, including media and advertising, in a total of 39 countries and jurisdictions.
Introduced in 2007, Chartis’ Passport service platform allows policyholders to obtain E&O / PI insurance aligned with local laws, regulations and customs worldwide. Customers can secure local “underlyer” policies through Passport that are issued through the Chartis network in conjunction with their global base E&O / PI policy. Along with the “underlyer” policy, customers receive access to Chartis’ locally-based claims and litigation management resources.
The newly broadened Passport platform facilitates local placement of E&O / PI insurance in the following countries and jurisdictions: Bermuda, Cayman Islands, Chile, Cyprus, Czech Republic, Hong Kong, Ireland, Israel, Macau, Norway, Portugal, Sweden, Switzerland, Turkey, Singapore, South Africa, South Korea and the Beijing province of China. This expanded access adds to the 18 countries and three Chinese provinces where Passport has already been available for E&O / PI policyholders. In each country and jurisdiction, local E&O / PI coverage can be customized for numerous services, including advertising, media, technology, real estate agencies, travel agencies, staffing and recruitment agencies, and claims adjusting agencies.
“We have extended our Passport platform in direct response to the needs of our multinational customers and the reality of a marketplace in which professionals face unique risks around the world. This is part of our continuing commitment to ensure that our customers are confident that they are well protected as they conduct business worldwide,” said Tracie Grella, President of the Professional Liability unit of Chartis’ Executive Liability division.
“This enhanced platform provides our customers with better access to local insurance coverage regardless of where they operate. This is particularly important today given the increased exposures stemming from the growth in demand for professional services and ever-increasing levels of litigation against professionals worldwide,” said Ian Pollard, International Professions Manager of Chartis International.
The Chartis insurers have been leading underwriters of E&O / PI insurance for nearly 40 years, and maintain E&O / PI specialists around the globe to tailor coverage for the E&O / PI exposures of various jurisdictions worldwide. For more information, please send an e-mail to executiveliability@chartisinsurance.com or visit www.chartisinsurance.com.
About Chartis
Chartis is a world leading property-casualty and general insurance organization serving more than 45 million clients in over 160 countries and jurisdictions. With a 90-year history, one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence.
Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at http://www.chartisinsurance.com. All products are written by insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
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