July 22, 2014 9:47 PM ET

Insurance

Company Overview of XL Insurance America, Inc.

Company Overview

XL Insurance America, Inc. provides casualty and property insurance products and services. The company primarily involves in underwriting liability, property, and professional business insurance products. It sells its insurance products and services to brokerage firms, and regional and independent businesses through brokers and agents. The company was formerly known as Winterthur International America Insurance Company and changed its name in December 2002. The company was incorporated in 1945 and is based in Dallas, Texas. XL Insurance America, Inc. operates as a subsidiary of Greenwich Insurance Company.

2727 Turtle Creek Boulevard

Dallas, TX 75219

United States

Founded in 1945

Phone:

305-673-3337

Fax:

305-673-3660

Key Executives for XL Insurance America, Inc.

Chief Executive of North America Property & Casualty
President for North American Programs
Chief Underwriting Officer of Global Property Operations
Executive Vice President and Chief Underwriting Officer of North America Property & Casualty
Senior Vice President of North American Programs
Compensation as of Fiscal Year 2014.

XL Insurance America, Inc. Key Developments

XL Insurance America Settles Sandy Lawsuit with Fisker Automotive

A lawsuit that Fisker Automotive Inc. filed against XL Insurance America over $33 million worth of hybrid-electric cars destroyed by Hurricane Sandy has been settled. The terms of the settlement were not disclosed. Fisker claimed in the suit that XL was wrong to deny its claim for the destroyed cars, which were inundated by Sandy's storm surge while at a trans-shipment facility in Port Newark, N.J. Fisker had a policy with XL "providing coverage for property damage and losses in transit" that was in force when the cars were damaged, records said. Fisker paid a $268,846 premium for the policy, which is subject to an overall limit of $100 million per occurrence. Sandy made landfall on the evening of Oct. 29, just southwest of Atlantic City, N.J. as a post-tropical cyclone. The storm brought with it winds in some places of 80 mph and significant storm surge levels. RMS pegged insured losses from the storm up to $25 billion.

Fisker Automotive Inc. Files Hurricane Sandy Related Suit Against XL Insurance America

Fisker Automotive Inc. has filed a lawsuit against XL Insurance America Inc. claiming the insurer was wrong to deny a claim Fisker made after storm surge from Hurricane Sandy destroyed 338 Karma hybrid-electric cars, which are valued at $33 million. Fisker filed the suit Dec. 28 in Supreme Court of the State of New York in New York County. The automobile company said the cars were waiting at a trans-shipment facility in Port Newark, N.J., when Sandy's storm surge inundated the facility, submerging the cars in at least five feet of seawater. The lawsuit said Fisker on Nov. 13 notified XL of the loss, filed its proof of loss on Dec. 3 and the insurer's adjuster acknowledged on Dec. 18 that all information requests had been met. However, two days later XL said it was denying the claim, the lawsuit said. Fisker had a policy with XL "providing coverage for property damage and losses in transit" that was in force when the cars were damaged. Fisker paid a $268,846 premium for the policy, which is subject to an overall limit of $100 million per occurrence. The auto company claims it sustained a transit loss that should be covered within the policy terms and XL's "contractual duty to indemnify (Fisker) for the value of the loss has been triggered".

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