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OneBeacon Professional Insurance Offers New Risk Management Services Through Jackson Lewis
May 17, 2010 (04:05 PM EDT)


AVON, Conn., May 17 /PRNewswire-FirstCall/ --OneBeacon Professional Insurance (OBPI), a member of OneBeacon Insurance Group (NYSE: OB), announced it has entered into a relationship with Jackson Lewis LLP to offer a suite of risk management services exclusively to OBPI's employment practices and management liability insureds. These insureds will have secure access to a dedicated workplace law website and a telephone hotline.

The website and hotline are designed to help insureds better understand the many issues affecting their workplace decisions. The site will include resource links, articles and employment law updates to assist their risk management efforts. Topic areas include employment litigation, disability leave issues, and handling reductions in force, drug testing and more. Similarly, insureds may call the dedicated Jackson Lewis telephone hotline for guidance regarding their workplace and employment-related questions.

Said Laurie Sablak, Assistant Vice President, Professional Liability at OneBeacon Professional Insurance, "We are very pleased to provide our insureds with this highly informative, new risk management program. This multi-level service will help our insureds to better manage and understand their workplace risks. And by offering services online and via telephone, our customers can access these resources whenever they need them most."

Paul Siegel, Partner at Jackson Lewis said, "OneBeacon Professional Insurance understands the unique and evolving exposures employers face today. Our relationship will introduce a broad spectrum of resources to their policyholders that will enable an educated, proactive approach to risk management."

About Jackson Lewis: Founded in 1958, Jackson Lewis is dedicated to representing management exclusively in workplace law with over 600 attorneys practicing in 45 cities nationwide.  Jackson Lewis has a wide range of specialized practice areas, including:  Affirmative Action and OFCCP Diversity Planning; Disability, Leave and Health Management; Employee Benefits, including Complex ERISA Litigation, Workplace Privacy and Executive Compensation; Global Immigration; Labor, including Preventive Practices; Litigation, including Class Actions, Complex Litigation and e-Discovery; Trade Secrets, Non-Competes and Workplace Technology; Wage and Hour Compliance; and Workplace Safety Compliance.  In addition, Jackson Lewis provides advice nationally in other workplace law areas, including:  Reductions in Force, WARN Act; Corporate Governance and Internal Investigations; Drug Testing and Substance Abuse Management; International Issues; Management Education, including e-Based Training; Alternative Dispute Resolution; Public Sector Issues; Government Relations; Corporate Diversity Counseling and College and University Employment Law and Compliance Issues.  

About OneBeacon Professional Insurance: OneBeacon Professional Insurance is a member of OneBeacon Insurance Group that specializes in professional liability solutions for targeted industries including hospitals of all sizes, physician groups, managed care organizations, long-term care facilities, health care facilities, media organizations, real estate professionals and lawyers. Additionally, OneBeacon Professional Insurance provides Employment Practices Liability Insurance, Management Liability and tailored products for complex organizations including health care provider excess insurance and HMO reinsurance.

About OneBeacon: OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB." OneBeacon Insurance Group's underwriting companies offer a range of insurance products sold through select independent agents, regional and national brokers, and wholesalers. The company's ongoing businesses include OneBeacon Professional Insurance, International Marine Underwriters, Entertainment Brokers International Insurance Services, Specialty Accident and Health, OneBeacon Government Risks, OneBeacon Energy Group, A.W.G. Dewar (tuition refund), collector cars and boats written through Hagerty Insurance Agency, Technology, Financial Services, OneBeacon Specialty Property, Property and Inland Marine and AutoOne.

As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialty insurance businesses are national in scope while personal lines business is concentrated in the Northeastern United States.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to OneBeacon's:

  • change in book value per share or return on equity;
  • business strategy;
  • financial and operating targets or plans;
  • incurred loss and loss adjustment expenses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance;
  • projections of revenues, income (or loss), earnings (or loss) per share, dividends, market share or other financial forecasts;
  • expansion and growth of our business and operations; and
  • future capital expenditures.

These statements are based on certain assumptions and analyses made by OneBeacon in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:

  • claims arising from catastrophic events, such as hurricanes, windstorms, earthquakes, floods, fires, explosions, terrorist attacks or severe winter weather;
  • recorded loss and loss adjustment expense reserves subsequently proving to have been inadequate;
  • the continued availability and cost of reinsurance coverage;
  • the continued availability of capital and financing;
  • general economic, market or business conditions;
  • business opportunities (or lack thereof) that may be presented to it and pursued;
  • competitive forces, including the conduct of other property and casualty insurers and agents;
  • changes in domestic or foreign laws or regulations, or their interpretation, applicable to OneBeacon, its competitors, its agents or its customers;
  • an economic downturn or other economic conditions adversely affecting its financial position including stock market volatility;
  • actions taken by ratings agencies from time to time, such as financial strength or credit ratings downgrades or placing ratings on negative watch;
  • the risks that are described from time to time in OneBeacon's filings with the Securities and Exchange Commission, including but not limited to OneBeacon's Annual Report on the Form 10-K for the fiscal year ended December 31, 2009 filed February 26, 2010.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by OneBeacon will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, OneBeacon or its business or operations. OneBeacon assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.

Website:   www.onebeacon.com

Website:   www.jacksonlewis.com

SOURCE OneBeacon Insurance Group, Ltd.