On 1/4/2015 – Allied World Assurance Company Holdings, AG (NYSE: AWH) acquired the Hong Kong and Singapore operations of Royal & Sun Alliance Insurance plc ("RSA").
Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions.
Allied World offers superior client service through a global network of offices and branches.
All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and its Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and AA- by Fitch.
Since its inception in 2001 Allied World has built its success on designing risk transfer products that meet the diverse requirements of its clients.
With 19 offices serving customers around the world, Allied World sees itself as deploying a strategy that it allows it to be entreprenneurial, yet financially secure.
360° Business Protection is designed to cover all your insurance needs in running your business. The Allied World 360 degree package offers entrepreneurs the best protection at the best rates. The 360 product is available to protect you in an office environment and as well if you have a retail/wholesale shop or clinic to insure.
Additional cover limits and extensions are tailor-made for a broad range of trades and businesses, whether you have single or multiple locations.
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To search the list of network doctors - click here -> Allied World Medical Network Link
NOTE: The Medical Card is absolutely imperative for your helper to receive treatment
MaidGuard is Allied World’s Domestic Helper product that covers:
- Your legal liabilities as an employer and
- Your helper’s routine outpatient claims via a cashless medical network
- HKD80,000 pa in inpatient benefits
- Health Checks and flu jabs at a discounted rate
Important points to note include:
- Local (permanent) residents and part time helpers are excluded from both the Personal Accident and medical benefits.
- There is a 15 day waiting period when cover is first taken (for each helper). In this period there is NO cover for medical benefits.
- Outpatient network visits are restricted to ONE visit per day.
- Medical benefits and Personal Accident benefits are only provided until age 59
- Preexisting conditions are NOT covered, neither are any form of pregnancy expenses.
- Employees Compensation cover is only available in HK. If your helper is traveling outside HK, you will need to have the policy endorsed to include overseas travel. This is a common requirement of all insurers we know.
- THERE IS NO OUTPATIENT COVER IF YOU GO TO A DOCTOR OUTSIDE THE NETWORK.
Allied World offers a number of Medical Malpractice products covering:
- Physicians and Surgeons
- Managed and elderly care facilities
- Other Miscellaneous medical facilities
Allied World also offers managed care 'Errors and Omissions" (E&O) cover for the managed care segment of the healthcare industry. This is achieved in part by having a very broad definition of what consitutes "managed care facilities" and as well, the way in which 'the Insured" is defined.
Currently Allied World offers up to USD25m in cover for such risks.
Allied World’s IMI/Venture Capital Insurance protects investment:
- fund managers and
- venture capital firms
as they perform their daily business activities.
Tailored to the specialized needs of investment managers and firms, Allied World's comprehensive coverage helps ensure that you are protected against claims alleging:
- breach of duty,
- neglect, and
Allied World underwrites small entities through to global corporations and large partnerships across all industry groups
Unusual in today's turbulent marketplace, Allied World is keen to do business with companies that are subject to United States securities law through American Depository Receipt (ADR) facilities!
Trade Credit and Political Risks
Allied World offers short and medium-term credit and political risk insurance targeting:
- Non-payment coverage for short-term and medium-term exports to both private and public sectorbuyers. Policies can be written for both one-off transactions and for multi-buyer programs.
- Pre-shipment coversare available to protect you in canse you have long lead times against the insolvency of the buyer and various political risks which may render contractual performance impossible.
- Our cover extends to Non-payment and non-performance in respect of advance payments and pre-financings that have been made to foreign suppliers.
- Policies can be written to cover both short and medium-term imports and can be issued to one supplier or in fact, many different suppliers.
- Fnancial institutions
- Non-payment for both short-term and medium-term trade and export finance to both private and public sector buyers.
- Structured commodity finance transactions.
- Lender’s Interest coverage for both project and investment assets which protect against the failure or inability of the borrower to repay the loan as a result of various political perils.
- Contract Repudiation and Unfair Calling of Guarantee Cover.
- Permanent Investments – Coverage is available for companies investing in foreign markets against confiscation, expropriation, nationalization or deprivation; loss caused by forced abandonment, forced divestiture, war, strikes, riots and civil commotion; and the risk of inability to convert and transfer earnings or principal from the investment.
- Mobile Assets – Cover for mobile assets such as vehicles, plant and machinery, stocks of commodities etc. caused by loss due to perils as outlined above for permanent investments.
Coverage is offered for the risks of:
- Unfair Calling of Guarantee
- Political Force Majeure
Up to $25 million per Obligor/Guarantor and for credit terms of up to five years.
NOTE: No classes of business are excluded!