PEMBROKE, Bermuda, Sept. 29 /PRNewswire-FirstCall/ -- Allied World Assurance Company (U.S.) Inc., a member company of Allied World Assurance Company Holdings, Ltd (NYSE: AWH), today announced the launch of their Professional Employer Organization (PEO) Employment Practices Liability product.

Gordon Knight, President of Allied World U.S., commented, "In these tough economic times, employers need to wisely choose where they spend their money. Many companies cost effectively outsource to PEOs the management of their human resources, employee benefits, payroll and workers' compensation insurance. Our Professional Employer Organization Employment Practices Liability product, combined with comprehensive risk management services, gives PEOs and their clients another critical insurance product."

The product is specifically designed for PEOs. It provides them and their client companies with necessary coverage for employment related exposures, including discrimination based on race, color, religion, sex, age and national origin, discrimination on the basis of a disability as well as sex-based wage discrimination.

Ed Moresco, Vice President, Private and Not-for-Profit Professional Lines Underwriting, advised: "This new product was created to address the unique needs of PEOs and their client companies while also providing them with the convenience of weekly premium payments. It is another example of Allied World's ongoing commitment to providing its producing partners and clients with comprehensive products tailored to meet market and coverage needs."

The Professional Employer Organization Employment Practices Liability product is available with up to $25 million in limits.

    For more information on this new product, please contact:

    Ed Moresco
    Vice President
    646.794.0526
    ed.moresco@awac.com

About Allied World Assurance Company

Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through offices in Bermuda, the United States, Europe and Hong Kong. Our insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company. For further information on Allied World, please visit our website at www.awac.com.

Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this press release reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, our forward-looking statements could be affected by the ability to recognize the benefits of the Darwin Professional Underwriters, Inc. acquisition; pricing and policy term trends; increased competition; the impact of acts of terrorism and acts of war; greater frequency or severity of unpredictable catastrophic events; investigations of market practices and related settlement terms; negative rating agency actions; the adequacy of our loss reserves; the company or its subsidiaries becoming subject to significant income taxes in the United States or elsewhere; changes in regulations or tax laws; changes in the availability, cost or quality of reinsurance or retrocessional coverage; adverse general economic conditions including those related to the ongoing financial crisis; and judicial, legislative, political and other governmental developments, as well as management's response to these factors, and other factors identified in our filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We are under no obligation (and expressly disclaim any such obligation) to update or revise any forward-looking statement that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Allied World Assurance Company