ACE Packages New Multinational Insurance Solution for UK and Ireland Customers
March 30 2015 - 03:00AM
Business Wire
ACE Group today announced the launch of ACE Multinational
Partner, an enhanced package of comprehensive property and casualty
insurance cover spanning traditionally separate lines of business,
for UK and Ireland based companies with one or more overseas
subsidiaries. The cover has been designed by a specially-created
project team, selected from across the region and from multiple
disciplines, responding to the latest broker and client
research.
Sally Blyfield, ACE Multinational Partner
Project Leader, ACE (Photo: Business Wire)
During 2014, the ACE project team spoke with around 30 UK broker
organisations to identify how multinational insurance solutions
could be better structured to support the changing needs of their
clients as they expand internationally. The common themes that
emerged from this research were the need for flexibility, coherence
and easily-tailored solutions, combined with the importance of
seamless coverage across a client’s international operations and
traditional insurance lines. Emphasis was given to the importance
of clear and relevant solutions for those organisations that are
just beginning to trade multinationally or operate in a limited
number of overseas territories.
ACE Multinational Partner has been designed to meet these needs
as well as the requirements of the Insurance Act 2015, due to take
effect next year. At the heart of the new proposition is a
recognition of the importance of a globally compliant insurance
programme in an increasingly complex regulatory and compliance
environment. Detailed benefits include:
- ACE’s broadest-ever cover as standard
and available across a range of lines of business, including
property, business interruption (including money, goods in transit,
contract works and machinery breakdown), general liability
(including environmental liability), employers’ liability,
computer, global terrorism
- Flexible cover to suit all sizes of
clients
- Simple, customer-friendly and
jargon-free wording
- Removal of insurer avoidance remedy for
innocent non-disclosure
- No basis of contract clause (See
related ACE press release for full details1)
- Standard policy is warranty free
- Access to local underwriters across the
UK and Ireland, empowered to make underwriting decisions
- Access to ACE’s global network and
local regulatory and compliance know-how – including the ACE
Worldview online portal which offers 24/7 real-time programme
information
- Dedicated relationship managers,
underwriting, claims and engineering personnel around the
world
- Multinational training and support for
brokers throughout the region, where they want it
Sally Blyfield, ACE Multinational Partner project leader for the
UK and Ireland at ACE said:
“Recent ACE research2 shows that the vast majority of European
companies believe their risk profile has become more multinational
over the past three years. With a mounting array of international
regulations bringing ever more complex compliance requirements,
they are increasingly at risk of fines, reputational damage and the
potential for invalidated claims if their insurance programmes fail
to perform as expected. ACE Multinational Partner provides trusted
‘belt and braces’ protection backed-up by comprehensive global
service, and we have packaged it in a way that we are confident
will work effectively for companies of all sizes and
industries.”
Phil Sharpe, Chief Operating Officer for the UK and Ireland at
ACE said:
“When we spoke to brokers about their clients’ multinational
insurance needs last year, compliance with local insurance
standards, advice and support managing international risks and
access to on-the-ground account and claims assistance were among
the priorities they highlighted. Through our own operations in 54
countries, a global network spanning 200 territories, and a team of
2,000 claims handlers around the world, ACE has the right people in
the right places to deliver the high level of responsiveness our
clients demand and deserve, while minimising cultural and language
barriers and time zone issues.”
-ENDS-
About ACE:
ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident and supplemental health insurance, reinsurance and life
insurance to a diverse group of clients. ACE Limited, the parent
company of the ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index.
ACE UK & Ireland’s five regions are:
∙ Ireland (Dublin and Belfast) ∙ Scotland (Glasgow, Aberdeen) ∙
The North (Leeds, Manchester, Newcastle) ∙ Midlands (Birmingham) ∙
London and South East (London, Maidstone, Reading, Watford)
Additional information can be found
at: www.acegroup.com/uk
or http://www.acegroup.com/uk-en/brokers/multinational.aspx
1
http://www.acegroup.com/uk-en/media-centre/details.aspx?article=/uk-en/Home/Assets/news/20130627005580en.html
2 ACE European Risk Briefing September 2014
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150330005007/en/
ACE GroupCeline LachevreMarketing Manager (PR & Events)020
7173 7489Celine.lachevre@acegroup.com
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