Chubb Atlantic Indemnity Ltd. has attained an A.M. Best Co. rating of A , and not A, as was reported in Wednesday's edition.

Bermuda-based liability insurer, Chubb Atlantic Indemnity Ltd. (CAIL), is seeking premium growth over last year -- seeking growth in a competitive market and declining rates.

CAIL's new president is Christopher Longo, based in Bermuda and replacing John B. Stites, who had been based in New York, but who shuttled back and forth.

Mr. Longo said, "It is a sign of our commitment that we based someone here full time since April and we have received great feedback from our brokers as a result. They felt it showed the commitment to the Bermuda marketplace.

Hopes for plain Cail-ing "We are exceeding our financial goals, finishing 1996 at $17 million in written premiums, which was substantial growth from the prior year. And we are anticipating substantial growth this year.'' In fact with interest in their products growing significantly, the Class 4 insurer has launched a web site (www.chubbatlantic.bm) to better service Bermudian insurance brokers.

Mr. Longo said CAIL better serves a specialised marketplace with a stand alone site from that of parent, The Chubb Corp.

He said, "Virtually all global insurance brokerage firms have a major presence here in Bermuda. So naturally we felt that creating a site uniquely designed to address their needs was important. And by providing Bermudian brokers with round-the-clock electronic access to information about our capabilities, we're elevating our own market presence.'' The site offers information on Chubb Atlantic's excess liability, professional liability, property, punitive damages wrap-around and extended reporting period insurance products.

It also details the company's tailored approach to providing programmes on a direct, reinsurance or blended finite risk basis.

Chubb Atlantic said that their key personnel are spotlighted. Site visitors can find out about their backgrounds or peruse a listing of Bermudian brokers authorised to do business with the company.

Chubb Atlantic, with an A.M. Best Co. rating of A, has customers which include financial institutions, electronic firms, energy-related companies, manufacturers, service providers, accounting and law firms.

Mr. Longo said, "Our business lines include excess casualty, D&O, and other professional lines like E&O, EPLI, and fiduciary liability and others. We are also seeing more finite deals and blended finite deals.'' He said the market mentality in Bermuda, providing more solutions than standard form cover, is the reason behind the company's growth.

He said, "The type of client who comes to Bermuda tends to be sophisticated and unique. We are very much geared toward individual risk underwriting and individual consultation with the clients to solve their risk management problems.

"Being in Bermuda is an advantage because you can be creative. Obviously, in the US, insurers are more heavily regulated and restricted in how they write business.

"We're finding more clients who come to Bermuda, now put us on their agenda.''