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© 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114.

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Presentation on theme: "© 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114."— Presentation transcript:

1 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 CONSULTING ARCHITECTS OF ALBERTA Annual General Meeting October 29, 2013 Jill Eagleson Executive Claims Consultant XL Insurance, Design Professional 1

2 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Classification of Causes The XL Insurance Risk Drivers research highlights the interrelationship between technical and non-technical factors that contribute to an A/E firm’s risk exposure

3 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Classification of Causes Technical Error and/or omission of a technical nature which resulted in a loss prevention file or claim Non-technical Breakdown in project or practice management processes which contribute to a loss prevention file or claim being made

4 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Top 4 Non-Technical Risk Drivers Percentage of Claims Affected – 2001 (beige) v 2012 (blue)

5 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 ARCHITECTS Who Sues Architects?

6 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 JILL’S TOP TEN TRENDS 6

7 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= Delays/Extras/overruns – WHO IS TO BLAME These claims might be made by owner or contactor Will often be substantial; multi million dollar claims not unusual. Tighter margins; higher expectations Typical allegations: 1.Errors and omissions in design 2.Late responses to shop drawings and RFI’s 7

8 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Loss Prevention Tips 8 1.Client Selection and Education 2.Budget is adequate 3.Project Selection 4.Adequate Fees 5.Set Realistic Expecations

9 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Trend 1 ½ IT’S NOT EASY BEING GREEN 9 Loss Prevention Tips Are owner‘s expecations realistic? Appropriate contract language Your firm‘s expertise

10 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= More technical mistakes being made WHY IS THIS? POSSIBLE ANSWERS Too much work Not enough time Sense of urgency Insufficient training and continuing education opportunities New techology Bottom line impact on fees 10

11 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= CONTRACT ISSUES Unreasonable terms and conditions being imposed. Examples : 1.Indemnity and hold harmless 2.Standard of Care; fiduciary 3.Set off & withholding of fees 4.Absence of Limitation of Liability; no waiver of consequential damage 11

12 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Contracts – Tips 12 Use your firm standard form agreement; failing that, professional association Consult with insurance advisors and legal counsel Create awareness within your firm and always carefully review agreements prior to execution

13 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= WRITTEN COMMUNICATIONS Good & bad Exercise caution; formalize communication when necessary Your RFP; friend or foe? 13

14 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= Small projects/fees generating large claims Remember! Risk vs. Reward Due diligence Client selection 14

15 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Small Projects – Loss Prevention 15 Same level of due diligence required Always have a written agreement Be aware of scope creep and doing things for free.

16 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= Design Build and P3 Projects These non traditional project delivery methods are becoming more common Different risks, different risk management As always due diligence is critical Careful review of contracts required 16

17 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= Fee Issues; Accounts receivable Client Selection (consider retainer) Procedure to collect Contract provisions re: payment 17

18 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= Condominiums 18 Continue to be risky projects in terms of liability claims Highly leveraged Low fees for design Low bidder Unsophisticated purchasers/owners Developer and contractors likely judgement proof when the claim is made

19 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Condominiums – Loss Prevention 19 Project and Client Selection Quality contractor in place? Appropriate contract Appropriate fee

20 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= Field Observation Services 20 This should always be part of your scope of service Appropriate intervals Done by the right people Appropriately documented

21 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= Consolidation and Competition 21 Jumbo firms More competition

22 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 QUIZ – 6 QUESTIONS – TRUE OR FALSE? 22 1.Requesting financial information from a potential client is unprofessional and almost a guarantee to lose the account 2.One of the best things about doing projects for public agencies is their creditworthiness. They always pay their bills 3.Virtually all professional liability insurance policies cover the indemnifications clients commonly request.

23 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Questions – continued Condominiums are relatively low risk projects because a simple design can be repeated throughout the project. 5. Most claims against architects and engineers are filed w-i 6 months of project completion. 6. Threatening to sue a client for overdue fees is a good way of getting paid

24 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 THANK YOU Questions? 24

25 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 About XL Group plc XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL Group plc’s insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit xlgroup.com/insurance.xlgroup.com/insurance XL Group plc‘s reinsurance companies are among the world’s leading reinsurers. They offer products that include aerospace, property, casualty, marine and specialty. The world’s top insurers choose XL to help move their businesses forward. To learn more, visit xlgroup.com/reinsurance.xlgroup.com/reinsurance We are the organization clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit xlgroup.comxlgroup.com 25

26 © 2012, XL Group plc companies. All rights reserved. I MAKE YOUR WORLD GO Yellow R= 255 G= 255 B= 0 Orange R= 244 G= 121 B= 32 Magenta R= 236 G= 0 B= 141 Red R= 237 G= 28 B= 36 Lt Green R= 141 G= 198 B= 63 Green R= 57 G= 181 B= 74 Cyan R= 0 G= 174 B= 239 Dk Blue R= 45 G= 49 B= 146 Yellow 2 R= 213 G= 206 B= 146 Orange 2 R= 203 G= 125 B= 101 Mag 2 R= 182 G= 114 B= 146 Red 2 R= 239 G= 63 B= 107 LG2 R= 156 G= 162 B=63 Green 2 R= 0 G= 137 B= 143 Cyan 2 R= 0 G= 182 B= 190 DB2 R= 0 G= 65 B= 89 Legal Disclaimer US 26 In the US, the insurance companies of XL Group plc are: Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Insurance Company of New York, Inc., XL Select Insurance Company, and XL Specialty Insurance Company. Not all of the insurers do business in all jurisdictions nor is coverage available in all jurisdictions. This presentation is intended for informational purposes only and does not constitute legal advice. For legal advice, seek the services of a competent attorney. Any descriptions of insurance provisions are general overviews only. THE INSURANCE POLICIES, NOT THIS PRESENTATION, FORM THE CONTRACT BETWEEN THE INSURED AND THE INSURANCE COMPANY. Insurance coverage in any particular case will depend upon the type of policy in effect, the terms, conditions and exclusions in any such policy, and the facts of each unique situation. No representation is made that any specific insurance coverage would apply in the circumstances outlined herein. Please refer to the individual policy forms for specific coverage details. All coverages are subject to individual underwriting judgments and to state legal requirements. XL Group is the global brand used by XL Group plc’s insurance subsidiaries.


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