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XL Adds Equipment Breakdown Underwriting Team to Expand Property Insurance Offerings in North America

 — NEW YORK, November 11, 2011 – To help businesses cope with unexpected costs and business interruption resulting from the breakdown of equipment , XL Group plc’s (“XL”) (NYSE: XL) North America Property Insurance unit announced the additon of Brian Strain and Cheryl Geidel to its underwriting team. Mr. Strain joins as Senior Vice President and Head of Equipment Breakdown business and will be based in XL’s Chicago office while Ms. Geidel joins as Vice President – Equipment Breakdown and will be based in North Carolina. Both report to Joseph Tocco, head of XL’s North America Property unit and will work to develop XL’s Equipment Breakdown Coverage products.
According to Mr. Tocco, “For many businesses, an unexpected failure of equipment may result in both excessive repair costs and an impact to production. We’re pleased to be able to enlist the help of such a talented team to develop Equipment Breakdown products that provide protection against these equipment failures and the financial ramifications that may result.”
“Brian and Cheryl bring to us more than four decades of experience addressing business’ equipment exposures,” said Mr. Tocco. “They are the perfect duo to help us enhance Equipment Breakdown coverage currently provided in property coverage forms and further develop our Equipment Breakdown book of business.”
Equipment Breakdown insurance provides protection against financial losses that result from the breakdown of equipment which may include business interruption and equipment repair or replacement costs.
Mr. Strain joins XL from Zurich North America where he served as Vice President and Regional Manager of Boiler & Machinery. In addition to product responsibilities, he also helped establish the company’s Boiler & Machinery growth strategies, created tools for loss prevention, premium pricing tools, broker education programs, and other strategic initiatives. Mr. Stain’s 25-year insurance career, also includes positions with Starr Tech, Sedgwick, and Hartford Steam Boiler. He is a graduate of Oklahoma State University, earning his undergraduate degree in Fire Protection and Safety Engineering.
Ms. Geidel’s 20-year insurance career also includes time spent with Zurich North America, most recently as Vice President, Technical Underwriting for Boiler & Machinery. During her tenure with Zurich, she was responsible for technical underwritng support including establishing underwriting and policy guidelines, endorsements and pricing tools. Ms. Geidel’s Boiler & Machinery underwriting experience was also honed with underwriting and claims positions at Hartford Steam Boiler Inspection & Insurance Company. She is a graduate of Central Connecticut State University.
About XL’s Insurance Segment
The Insurance segment of XL Group plc offers property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit www.xlgroup.com/insurance
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 is the company clients look to for answers to their most complex risks and to help move their world forward. Its principal offices are located at No.1 Hatch Street Upper, 4th Floor, Dublin 2, Ireland. To learn more, visit www.xlgroup.com
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