Casualty Programs for Multinational Companies (XL WorldPath/XL WorldPass)

XL Group offers primary casualty coverage for multinational companies around the globe. XL WorldPass covers risk-managed, non US/Canadian-based companies. XL EuroPass is designed for the legal, regulatory and tax requirements of the EU and the EEA. XL WorldPath is designed for US/Canadian-headquartered companies.

Product Availability

(Coverage provided for worldwide exposure)

  • Product details
    Product details
  • North America
    North America

    Capacity

    XL WorldPath: Up to USD 10 million

    Coverage

    XL WorldPath: 
    – Home foreign controlled master programs 
    – Global programs 
    – Fronting solutions (e.g., captives, matching deductibles)

    Client Profiles

    XL WorldPath: 
    – US and Canadian headquartered multinationals 
    – Large, middle market or growing companies and institutions with international needs 
    – Commitment to centralized risk management

    Typical Information Required

    XL WorldPath: 
    – Name and address of first named insured, with schedule of related
      entities and locations 
    – Description of operations with products and services for each entity 
    – Schedule of discontinued operations and products 
    – Schedule of asset sales, acquisitions and divestitures and how 
      liabilities were handled 
    – Historical and prospective exposure base for each line of business
      (optimal: five years) 
    – Audited financial statements for the latest annual period 
    – Ground-up loss information for each line of business valued within 
      six months of program effective date (five years, excluding current
      year) 
    – Schedule of large losses
    – Program design, including number of countries, limits of insurance,
      deductible, captive retention or self-insured retention amount, 
      coverage requirements (master and local policies), claims service 
      requirements and loss control requirements

    Benefits & Services

    XL WorldPath: 
    – Ability to issue locally admitted policies 
    – Global network to manage all aspects of claims resolution 
    – Centralized account data management 
    – Knowledge of local rules and regulations 
    – Strong expertise in cash flow management 
    – Experience insured captive structures
    – Strong focus on reinsurer quality (S&P “A” or better)
    – Master policy issued within 30 days of inception
    – Notification to local offices within 24 hours of binding
    – Instructions to local offices within 30 days of receiving allocations
    – Quarterly loss runs in .pdf and .xls format
    – Global fronting

    Attachment Point

    XL WorldPath: First dollar

    Limits On Product

    XL WorldPath: Up to USD 10 million

    Minimum Premium

    XL WorldPath: USD 25,000
  • Continental Europe
    Continental Europe

    Capacity

    XL WorldPass:
    Primary and excess combined: up to EUR/USD 100 million

    XL EuroPass:
    Primary and excess combined: up to EUR/USD 100 million

    Coverage

    XL WorldPass: 
    – General and products liability
    – Common extensions available are excess auto liability,
      excess employers liability, pure financial loss, product
      recall, dismantling and reinstalling costs

    XL EuroPass: 
    – General and products liability
    – Common extensions available are excess auto liability, 
      excess employers liability, pure financial loss, product
      recall, dismantling and reinstalling costs

    Client Profiles

    XL WorldPass: 
    – Multinational companies
    – Clients with risk management orientation  

    XL EuroPass: 
    – Multinational companies
    – Private companies
    – Clients with risk management orientation

    Typical Information Required

    XL WorldPass: 
    – Five-year loss history (confirmed claims experience from incumbent insurer)
    – Summaries of claims outstanding over EUR/USD 50,000
    – Detailed historical loss information for losses exceeding EUR/USD 250,000
    – Detailed current and historical company information, including broad product
      areas and geographical operations
    – Program structure, including number of countries, limits of insurance,
      deductibles or self-insured retentions, coverage specifications and servicing
      requirements
    – Risk management and health and safety procedures

    XL EuroPass: 
    – Five-year loss history (confirmed claims experience from holding insurer)
    – Summaries of claims outstanding over EUR/USD 50,000 
    – Detailed historical loss information for losses exceeding EUR/USD 250,000
    – Detailed historical company information, including broad product areas and
      geographical operations
    – Program structure, including number of countries, limits of insurance,
      deductibles or self-insured retentions, coverage specifications and servicing
      requirements
    – Risk management and health and safety procedures


    Benefits & Services

    XL WorldPass: 
    – Ability to issue locally admitted policies
    – Global IT platform to facilitate administrative processes 
    – Knowledge of local rules and regulations
    – Experienced, solution oriented global program underwriters
    – Experienced claims handlers who understand the complexity
      of cross-border claims services
    – Strong expertise in cash flow management
    – Commitment to long-term relationships and support as required
      for this long-tail class of business
    – Compliant legal and tax solution for global programs, including
      local policies in the US and Canada

    XL EuroPass: 
    – Global IT platform to facilitate administrative processes
    – Efficient and compliant tax allocation and payment procedures
    – Knowledge of local rules and regulations
    – Experienced claims handlers who understand the complexity of
      cross-border claims services
    – Commitment to long-term relationships and support as required 
      for this long-tail class of business
    – Coverage in one policy; no need for locally-issued policies in the
      EU or EEA

    Attachment Point

    XL WorldPass:
    - For pure excess: EUR/USD 15 million
    - May consider lower attachment points for selected activities

    XL EuroPass:
    - For pure excess: EUR/USD 15 million
    - May consider lower attachment points for selected activities

    Limits On Product

    XL WorldPass:
    - Primary and excess combined: up to EUR/USD 100 million
    - Annual or multi-year

    XL EuroPass:
    - Primary and excess combined: up to EUR/USD 100 million
    - Annual or multi-year basis.

    Minimum Premium

    XL WorldPass: Varies

    XL EuroPass: Varies
  • UK & Ireland
    UK & Ireland

    Capacity

    XL EuroPass:
    Primary and excess combined: up to EUR/USD 50 million

    Coverage

    XL EuroPass: 
    – General and products liability
    – Common extensions available are excess auto liability, excess employers liability, pure financial loss, product recall, dismantling and reinstalling costs

    Client Profiles

    XL EuroPass: 
    – Multinational companies
    – Private companies
    – Clients with risk management orientation

    Typical Information Required

    XL EuroPass: 
    – Five-year loss history (confirmed claims experience from holding insurer)
    – Summaries of claims outstanding over EUR/USD 50,000 
    – Detailed historical loss information for losses exceeding EUR/USD 250,000
    – Detailed historical company information, including broad product areas and geographical operations
    – Program structure, including number of countries, limits of insurance, deductibles or self-insured retentions, coverage specifications and servicing requirements
    – Risk management and health and safety procedures

    Benefits & Services

    XL EuroPass: 
    – Global IT platform to facilitate administrative processes
    – Efficient and compliant tax allocation and payment procedures
    – Knowledge of local rules and regulations
    – Experienced claims handlers who understand the complexity of cross-border claims services
    – Commitment to long-term relationships and support as required for this long-tail class of business
    – Coverage in one policy; no need for locally-issued policies in the EU or EEA

    Attachment Point

    XL EuroPass:
    - For pure excess: EUR/USD 15 million
    - May consider lower attachment points for selected activities

    Limits On Product

    XL EuroPass:
    - Primary and excess combined: up to EUR/USD 100 million
    - Annual or multi-year basis.

    Minimum Deductible

    XL EuroPass: Varies

    Minimum Premium

    XL EuroPass: Varies

Industries

Disclaimer
This general product description is informational only. It is neither an offer to sell nor a solicitation to purchase any particular insurance product. Products are subject to legal and underwriting requirements. Coverages may not be available in all jurisdictions, including without limitation any jurisdiction within the United States, and may be available only through appropriately licensed producers. In addition, XL GAPS’s provision of publications or services is not an indication of the existence or availability under any policy of coverage for any particular property or type of loss or damage. Policies underwritten from Bermuda are only available through non US-based brokers. The Insurance companies of XL Group plc are: Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company, XL Select Insurance Company, XL Insurance Company of New York Inc., XL Insurance (Bermuda) Ltd, XL Insurance Company Limited, XL Insurance Switzerland Ltd, XL Insurance (China) Company Limited, XL Insurance Argentina SA Compañia de Seguros and XL Insurance Mexico SA de CV. Coverages placed with Lloyd’s Syndicate #1209 are managed by XL London Market Ltd and supported by XL corporate members at Lloyd’s. Additional important information regarding our business is provided on our Legal Notices page.

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