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XL Group P.L.C. has launched a primary auto insurance form targeting trucking, public auto and commercial auto risks, the insurer announced Wednesday.
XL, which also offers excess auto insurance, will write primary auto coverage on an occurrence-based follow form policy with limits of up to $1.5 million, the firm said in a statement.
Chicago-based Andrew Miller will launch XL’s primary auto insurance line as underwriting manager, according to the statement. Mr. Miller was most recently an underwriting manager for Vanliner Insurance Co., a unit of National Interstate Insurance Co., XL said.
He will report to Michael Gramm, XL’s vice president of excess casualty.
Following an initial limited launch, “our intent is to gradually ramp up our primary auto operation to give ample attention to these tough risks and work with our broker partners to tailor workable insurance solutions,” Mr. Gramm said in the statement.
XL Group’s primary auto operation also has the ability to issue MCS-90 motor carrier policy endorsements and post required filings, according to the statement.
Thanks in part to low catastrophe losses, XL Group P.L.C. reported $354 million in net income for the fourth quarter of last year, an increase of 16.6%.