NEW YORK, NY, Sept. 19, 2011 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) today announced that Navigators Pro, the Management & Professional Liability insurance division of its principal underwriting agency subsidiary, Navigators Management Company, Inc., is introducing two Side A Excess Directors & Officers (D&O) products: the Broad Form Director InNAVation(sm) Policy and Lead A-Side Excess D&O InNAVation(sm) Policy with Difference-in-Conditions (DIC) insurance coverage. Both products are written on an admitted basis in the U.S. through Navigators Insurance Company, which is rated "A" (Excellent) by A.M. Best and "A" (Strong) by Standard and Poor’s. Navigators D&O products are also available for international corporations through Navigators Syndicate 1221 at Lloyd’s of London. Lloyd’s is rated "A" (Excellent) by A.M. Best and "A+" (Strong) by Standard & Poor’s.
"Navigators Pro is celebrating ten years in the professional liability marketplace this month and we’re looking forward to our next ten years with more innovative insurance solutions," says Scott Misson, President of the Global Management Liability division. "We pride ourselves on listening to the brokerage community and catering to their needs. The crisis in financial market confidence has resulted in extreme equity capital market volatility, driving an increase in securities class action lawsuits. With directors and officers exposed to a heightened risk for non-indemnifiable exposures when the company is financially insolvent or legally not permitted to indemnify, we know brokers want to have more options to present to their clients. In response, we are introducing not just a Broad Form A-Side policy but also an A-Side DIC policy. We are well-positioned to provide insurance solutions offered by a high-quality insurer and we’re pleased to expand our Management Liability offerings on the occasion of our ten-year anniversary."
The Navigators Group, Inc. is an international specialty insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd's of London. Headquartered in New York City, Navigators has offices in major insurance centers in the United States, the United Kingdom and Continental Europe.
This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Whenever used in this release, the words "estimate," "expect," "believe," "may," "will," "intend," "continue" or similar expressions are intended to identify such forward-looking statements. We cannot assure that results that we anticipate will be achieved, since results may differ materially because of known and unknown risks and uncertainties that we face. Please refer to Navigators' most recent Forms 10-K and 10-Q and its other filings with the Securities and Exchange Commission for a description of Navigators' business and the important factors that may affect that business. Navigators undertakes no obligation to publicly update or revise any forward-looking statement.