Navigators Launches Offshore Wind Turbine Insurance.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The Navigators Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NAVG NAVG Navigation ) today announced the expansion of its range of insurance products for the energy industry to include Offshore Wind Turbine products. Stephen Coward, Managing Director of Navigators Underwriting Agency Ltd., stated, "In response to the commitment made by many governments to develop sources of renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. and growing international investment in the construction and operation of wind turbine generators in coastal waters, Navigators has developed a product for this new and expanding market segment. Navigators will use its combined in-house engineering and energy underwriting expertise to handle these risks, which may range from single units to large-scale windfarms. Navigators has built up considerable expertise in the insurance of construction and operational risks associated with land-based wind turbines around the world, and will combine this knowledge with our long-established marine and offshore energy experience in providing this additional service to the market." Products offered for the Offshore Wind Turbine segment include project cargo, contractor's all risks, delay in start up, operational material damage, business interruption and third party liability. Coverage is underwritten by either Navigators Insurance Company or Lloyd's Syndicate 1221. The Navigators Group, Inc. is an international insurance holding company with insurance company operations, underwriting management companies and operations at Lloyd's. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Navigators has offices in major insurance centers in the United States, the United Kingdom and Belgium. This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Whenever used in this release, the words "estimate," "expect," "believe" 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 Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. 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. |
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