A Newsletter from Old Republic Professional
Underwriters of D&O and Professional Liability Insurance
In this issue … a new name, new products, new staff, new web site … .
Most of you have probably heard that on September 7, we changed our name from Chicago Underwriting Group, Inc. to Old Republic Professional Liability, Inc. We are marketing ourselves as Old Republic Professional. You can read our press release here.
Why The Change?
We wanted to strengthen our association with the Old Republic General Insurance Group – the largest business segment within Old Republic International, our ultimate parent company and one of the 50 largest publicly held insurance organizations in America. Changing our name to reflect our ownership and expanding appetite clarifies our value proposition. Market reaction has been uniformly positive, a typical response being that it is a logical step to leverage the Old Republic brand and family of multi-line insurance companies.
Insurance contracts will continue to be issued and underwritten by Old Republic Insurance Company, rated A+ (Superior) by A.M. Best, A2 Stable by Moody's, and A+ Stable by Standard and Poor's.
Introducing Excess PlusTM expanded coverage. The new Excess PlusTM endorsement expands Side A coverage within our "traditional" (ABC) excess layer to create broadened terms for "non-indemnifiable loss" of natural insured persons, including the potential for drop-down.
Insured individuals will enjoy an extra level of protection in a world of increasing personal liability exposure.
Learn more about how Excess Plus can help improve your excess D&O program.
Excess Private Company Management Liability
Since we introduced our excess private company liability initiative in May this year, we have seen a lot of interest from our producers looking to increase limits for their private company clients, either across the whole spectrum of coverages, or targeting specific areas where they may need bolstering, such as excess Employment Practices Liability, or excess Fiduciary Liability. Our Excess FlexTM product can help meet this need.
Our recent focus on excess private management liability will be followed in the coming months by further expansion of our coverage offerings to meet the ever-changing demands of our nationwide customer network.
Learn more about how Excess Flex can help your private company clients.
Over the past few months the Chicago office has welcomed a number of key additions to the professional staff:
All of these individuals come with extensive experience from major professional liability insurance companies. You can learn more and contact them directly from their profiles on the web site, where details on all Chicago and Denver professionals can be found.
We have also added two new financial analysts to our team. Mae Abdelrahman and Reed Swift both joined earlier this year and are providing valuable assistance with underwriting research, client meetings and risk evaluation.
Updated Web Site
Changing the company name was a good opportunity to update and upgrade our web site. Our new web address is oldrepublicpro.com, which is also the domain for our staff emails. Visitors to our old site name will be sent to oldrepublicpro.com, and messages using the old email addresses will be forwarded to the intended recipient. These automatic redirects will continue in place for an extended period of time, probably until the end of the year.
The site itself has a new home page, an added section for News, where the current and past newsletters can be found, and a new, "Why Old Republic Professional?" section. The site remains an excellent resource for our insurance documents: all current D&O and Lawyers professional policy forms and applications are available for review. The D&O Products page now contains one-page highlight sheets for all four D&O programs, and our "underwriting appetite" format has been redesigned for greater clarity.
We have had a presence on social media for some time, and we have now added links to the Old Republic Professional company page on LinkedIn and Google+ to the foot of each page on our web site; links are also available at the end of this newsletter. We invite and encourage you to follow us on these sites, especially LinkedIn, which is becoming the preferred social media vehicle of the insurance community, evidenced by the number of D&O Insurance user groups in place.
By "following" us you will receive updates to our company page, including news about our company and other items of interest. These social media postings will complement this newsletter, which will still be sent out every two months.
Here is a useful guide to navigating LinkedIn. We are listed as Old Republic Professional.
What Has Not Changed
The new name, upgraded web site, new staff, and expanding use of social media are all manifestations of our continued and unchanging commitment to providing our producers and their clients with pragmatic and cost-effective solutions to their insurance needs.
We have survived and thrived through a variety of secular challenges and market movements for over 30 years. The Old Republic Professional name will continue to be synonymous with stability, consistency, and solutions.
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Past issues of this newsletter are available.
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