Allied World Specialty Insurance Company (Delaware): Contacts, Products, Financials, Claims, Reviews and Benefits

Allied World Specialty Insurance Company (Delaware) Services and Products

1. Professional Liability Insurance: It safeguards businesses and individuals from financial losses due to claims of professional negligence.
2. Directors and Officers Insurance: This type of insurance protects company directors and officers from personal liability claims arising from wrongful acts or omissions during their duties.
3. Errors and Omissions Insurance: It shields against financial losses resulting from claims of errors or omissions in work.
4. Cyber Insurance: Designed to protect against financial losses from cyber attacks like data breaches, hacking, and malware infections.
5. Environmental Liability Insurance: Protects businesses from financial losses stemming from environmental claims, such as cleanup costs and third-party damages.
6. Financial Institutions Insurance: Safeguards banks, credit unions, and other financial institutions from losses due to claims of fraud, theft, and other criminal activities.
7. Healthcare Liability Insurance: Designed to protect hospitals, doctors, and healthcare providers from financial losses due to medical malpractice claims.
8. Management Liability Insurance: It shields businesses from financial losses resulting from claims of wrongful acts or omissions by management.
9. Product Liability Insurance: Protects businesses from financial losses due to claims of product defects.
10. Property and Casualty Insurance: Covers financial losses from property damage or injuries for businesses and individuals.
11. Reinsurance: Provides protection to insurance companies against their own financial losses.

Allied World Specialty Insurance Company’s products and services cater to a broad spectrum of businesses and individuals, including:

• Small businesses
• Mid-sized businesses
• Large businesses
• Nonprofit organizations
• Individuals
• Professional firms
• Financial institutions
• Healthcare providers
• Manufacturers
• Retailers
• Service providers

Financial Details

Allied World Specialty Insurance Company (Delaware) is a subsidiary wholly owned by Allied World Assurance Holdings (U.S.) Inc., which, in turn, is wholly owned by Allied World Assurance Company Holdings, Ltd., a Bermuda corporation.

Allied World Assurance Company Holdings, Ltd. is a publicly traded company listed on the Nasdaq stock exchange with the ticker symbol AWH.

For the year ending December 31, 2022, Allied World Assurance Company Holdings, Ltd. reported the following financial results:

• Gross written premium: $1.3 billion
• Net written premium: $905 million
• Underwriting loss: $41.3 million
• Net investment result: $9.2 million
• Net loss after tax: $40.0 million

Claims, Cancellations and Renewals

Allied World Specialty Insurance Company (Delaware) maintains a dedicated claims team responsible for managing claims arising under its policies.

This team possesses extensive experience and expertise across various insurance claims and is committed to ensuring the timely and equitable settlement of claims.

To initiate a claim with Allied World Specialty Insurance Company, you can reach out to the company’s claims department through phone, email, or regular mail.

Essential details to provide include:

• Your name and contact information
• Policy number
• Date and time of the incident
• Description of the incident
• Any relevant supporting documentation, such as police reports, medical records, or property damage estimates.

After filing a claim, a claims adjuster will be assigned to assess your case. The claims adjuster will conduct an investigation to determine if the claim falls under your policy’s coverage.

If it is covered, the claims adjuster will collaborate with you to resolve the claim.

Allied World Specialty Insurance Company takes pride in its transparent and efficient claims handling process, dedicated to offering customers a fair and hassle-free claims experience.

Cancellation

Allied World Specialty Insurance Company may cancel a policy for various reasons, which may include:

• Non-payment of premium
• Instances of fraud
• Violation of policy terms
• Changes in the company’s underwriting criteria

In the event that Allied World Specialty Insurance Company cancels your policy, they will notify you in writing and provide a refund for any unearned premium.

Renewals

Typically, Allied World Specialty Insurance Company renews policies automatically unless you inform them otherwise.

If you do not wish to renew your policy, you must contact the company at least 30 days before your policy’s expiration date.

Benefits to using Allied World Specialty Insurance Company (Delaware)

1. Financial Strength: Allied World Specialty Insurance Company boasts financial stability with a strong history of profitability. It holds an A (Excellent) rating from A.M. Best and an A- (Excellent) rating from Standard & Poor’s.
2. Wide Range of Products and Services: The company provides an extensive array of specialty insurance products and services tailored to diverse business and individual needs.
3. Expertise: Count on Allied World Specialty Insurance Company’s team of experienced and knowledgeable underwriters and claims professionals for expert guidance.
4. Customer Service: The company is dedicated to offering high-quality customer service, ensuring you receive the support you need.
5. Competitive Pricing: Allied World Specialty Insurance Company offers its products and services at competitive prices, enhancing your affordability.
6. Peace of Mind: You can enjoy peace of mind, knowing you are covered by an insurance provider known for financial stability and a strong reputation.
7. Risk Management: The company can assist you in identifying and effectively managing your risks.
8. Claims Handling: A dedicated claims team ensures prompt and equitable claims settlements.
9. Loss Prevention: Access various resources to help mitigate and reduce potential losses.
10. Risk Financing: The company can collaborate with you to develop a risk financing strategy tailored to your unique needs.

Quick Facts

• Founded: 1927
• Headquarters: Bermuda
• Financial Strength Rating: A (Excellent) from A.M. Best and A- (Excellent) from Standard & Poor’s.