Toronto, October 4, 2005 – The Citadel’s Vice President of Commercial Standard Lines and Reinsurance, Roger Keightley, has announced the launch of a powerful new product designed to meet the specific needs of the computer software development industry.
Responding to its dynamic broker network and creating products to meet the specialized requirements of corporate clients are two of The Citadel’s greatest strengths, and the new Coverage for Software Developers is yet another example of the company’s commitment to excellence in customer service.
Said Mr. Keightley, “The stakes in technology errors and omissions liability claims are high. With litigation on the rise, and ever-larger damage awards being granted by the courts, it’s more crucial than ever to protect individuals and their businesses from allegations of negligent acts, errors or omissions. The Citadel’s Coverage for Software Developers, with its solid errors and omissions coverage, protects against these threats…and more. We carefully researched this sector of the market and came up with a highly customized product we believe will meet and exceed the expectations of the software development industry.”
The new product has been created to address the unique needs of companies whose predominant activity is writing or modifying programs for computers and other electronic equipment. Whether they create “off-the-shelf” software for retail sale – including desktop applications and games – customized adaptations of “off-the-shelf” software, or original customized programs The Citadel’s Coverage for Software Developers offers a comprehensive insurance protection package for these businesses.
The Citadel is part of the Winterthur Swiss insurance Group, the insurance arm of Credit Suisse Group. The Citadel is Winterthur’s exclusive representative in Canada for general insurance.
Winterthur Group is a leading Swiss insurance company with head office in Winterthur. As an international company, the Group provides a broad range of property and liability insurance products, as well as insurance solutions in life and pensions that are tailored to the individual needs of private and corporate clients. Winterthur Group has approximately 19,500 employees worldwide. The company achieved a total business volume of CHF 17.4 billion in the first half-year of 2005 and reported assets under management of CHF 149.9 billion as of June 30, 2005.
Credit Suisse Group is a leading global financial services company headquartered in Zurich. It provides private clients and small and medium-sized companies with private banking and financial advisory services, and pension and insurance solutions from Winterthur. In the area of investment banking, it serves global institutional, corporate, government and individual clients in its role as a financial intermediary. Credit Suisse Group’s registered shares (CSGN) are listed in Switzerland and in the form of American Depositary Shares (CSR) in New York. The Group employs around 60,000 staff worldwide. As of June 30, 2005, it reported assets under management of CHF 1,341.2 billion.