PEMBROKE, Bermuda, June 23 /PRNewswire-FirstCall/ -- Allied World Assurance Company Holdings, Ltd (NYSE: AWH), today announced enhancements to its suite of professional liability products for insurance companies and risk-transfer organizations.

The company now offers, as part of its Darwin-branded errors and omissions (E&O) product line, a new Insurance Company Professional Liability (ICPL) product aimed at providing coverage to larger insurers. In conjunction with the ICPL product launch, the company's product formerly known as Alternative Risk Transfer Structures (A.R.T.) has been enhanced and renamed Private Risk-Transfer Organizations (P.R.O.).

Gordon Knight, President of Allied World U.S., commented, 'This industry segment has historically been underserved in the market. Our new ICPL and enhanced P.R.O. products respond to the current industry landscape and recent growth of this segment by providing a comprehensive coverage solution, effectively expanding our E&O footprint and meeting the needs of the marketplace.'

ICPL targets any insurance company or risk transfer organization -- mono or multi-line, public or private -- with an annual gross written premium of up to $2 billion, and provides limits up to $10 million, with excess capability available.

Nicole Haggerty, Senior Vice President, E&O Practice Lead, said, 'Our ICPL product is a stand-alone E&O policy tailored to the unique needs of larger, more complex insurance and risk-transfer entities who are looking to keep their E&O and D&O limits separate. As an A.M. Best A rated company, we believe our conservative balance sheet and solid capital base put Allied World in an excellent position to withstand future economic upheavals and most importantly, provide our insureds with the protection they need.'

The enhanced P.R.O. product addresses the unique needs of smaller insurance companies and private risk-transfer organizations, offering E&O coverage with optional D&O and Employment Practices Liability (EPL) insurance. Additional highlights in the P.R.O. product include full prior acts coverage and $25,000 in privacy liability coverage, included with no additional premium. Target classes include private, small-to-mid-sized companies that offer property, casualty, workers compensation or other types of insurance.

Allied World's P.R.O. product offers worldwide coverage with an increased appetite, including organizations with gross annual premiums of up to $2 billion.

To learn more about the company's new ICPL coverage or enhanced P.R.O. product, contact Ms.