XL Catlin expands North American aviation business
The North American aviation business of property/casualty insurer XL Catlin has increased its aircraft hull and liability limits by 50 percent.
XL Catlin said the increase will accommodate companies with aviation risks in the US and Canada looking to insure with one insurance carrier.
The firm’s aircraft hull policy limits have climbed to $75 million from $50 million and its liability limits are currently $750 million, increased from $500 million. This expansion of limits also applies to XL Catlin’s aircraft products liability and general liability and offerings that are placed on a 100 percent basis.
“Having a well-established global in-house team of underwriters and claims specialists with a deep understanding of aviation risks, we are well equipped to distribute our new limits,” said Paul Tuhy, chief underwriting officer of XL Catlin’s global aerospace business.
“We’re intent on taking a top three position in the global aviation insurance market and, given our seasoned in-house underwriting and claims team, these new limits, our continued global growth, and XL Catlin’s extensive client base outside of aviation, we are well positioned to reach that top spot.”
Eric Donofrio, chief underwriting officer for XL Catlin’s aerospace in the Americas region, added: “These new expanded limits aim to effectively address the exposures and insurance requirements of an extended client base for us.
“In addition, our goal is to provide our clients with the opportunity to tap into XL Catlin’s extensive multi-line coverage offering, global expertise and dedicated aviation claims team as they need it.”
XL Catlin’s North America aviation team has underwriters and aviation claims specialists based in New York, Boston, Chicago, San Francisco, Toronto and Calgary. The team offers a suite of aviation insurance coverages for traditional and specialised companies, including major and regional airlines and corporate fleets, through to component manufacturers and fixed-base airport operators.
