ACE Launches Comprehensive General Liability Offering for Multinational Middle Market Companies; Applies Global Expertise to ...
June 01 2015 - 6:56PM
Business Wire
- ACE combines domestic and international
general liability coverages to create a single solution for global
companies within the middle market segment
- Enhanced policy option is specifically
designed to help multinational companies navigate complex
risks
ACE Group today announced that it has launched a broad insurance
offering that combines domestic general liability coverage and
international general liability coverage for U.S. middle market
companies that are expanding globally.
Until now, many companies within the middle market segment could
only purchase their U.S. and foreign general liability products
separately or settled for less suitable foreign policy wording
added to a U.S. general liability policy form. By bringing together
the underwriting expertise of ACE Westchester, the company’s excess
and surplus lines division, and ACE Risk Management® Global
Casualty, the company’s global primary casualty division, ACE is
able to provide a single product offering that combines the
features and benefits of both products to its clients.
The ACE Global Risk Management Package Facility (the Facility)
can provide various policy structures including deductible,
self-insured retention (SIR) and locally admitted guaranteed cost
policies in the U.S. and in 54 countries around the world with
owned, local ACE offices, or we can access a network of insurance
partners encompassing 200 countries. As a result of close
collaboration with clients and brokers, ACE Risk Management Global
Casualty and ACE Westchester are able to identify opportunities to
simplify otherwise complex policies within key market segments. The
Facility helps meet this goal, as multinational clients with global
exposures no longer need to work with multiple insurance providers.
Broad, coordinated global general liability coverage is now
available, streamlining administration to reduce frictional costs
associated with the execution of their programs.
“ACE is offering a full suite of superior products in one
integrated program,” said Matt Merna, Division President ACE Risk
Management Global Casualty. “Clients now work with a unified team
to ensure their coverages are comprehensive and customized to meet
their specific needs. And by using our award-winning service
portal, ACE Worldview®, policies, certificates of insurance and
virtually all program components are easily accessible. With our
fully integrated technology interface, U.S. clients can find what
they need, when and where they need it.”
Delivered by a dedicated and experienced team of underwriters,
the Facility provides specialized insurance products designed to
help prevent coverage gaps, and provide inclusive global coverage
options. ACE can customize a program to meet a client’s needs
including an appropriate combination of the following:
- U.S. local, admitted policies
- Locally admitted foreign policies
- Master U.S. Difference in
Conditions/Difference in Limits (DIC/DIL) policy to provide
coverage in foreign jurisdictions that allow for non-admitted
policies
- Program structures may include
guaranteed cost, self-insured retentions (SIRs) and deductible
programs which clients can combine to meet their unique needs
The Facility is offered in addition to the full suite of foreign
coverages and specialty casualty products available from ACE Risk
Management Global Casualty and ACE Westchester.
ACE Risk Management Global Casualty, a division of ACE USA,
offers comprehensive risk management programs and services that are
uniquely designed and customized to assist companies in any
industry dealing with the significant costs of financing and
managing risks. To learn more about the products and services of
ACE Risk Management Global Casualty, please visit our website. ACE
Westchester serves the excess and surplus middle-market for risks
that tend to be hard to place due to unique or complex exposures.
To learn more about the products and services of ACE Westchester,
please visit our website.
Insurance is provided by insurance companies within ACE Group.
All products may not be available in all jurisdictions. The product
information above is a summary only. The insurance policy actually
issued contains the terms and limits of the contract.
About ACE Group
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 ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index. Additional
information can be found at www.acegroup.com, or follow ACE on
Twitter, https://twitter.com/ACEGroupNA.
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ACE GroupCarla Ferrara,
215-640-4744carla.ferrara@acegroup.com
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