ACE Commercial Risk Services Launches New Series of Specialty Products for Small Businesses
August 12 2015 - 5:46PM
Business Wire
• New standalone Liquor, Umbrella and Lessor’s Risk
Products and Business Owners Policy (BOP) Specialty coverages
specifically designed for the small business marketplace
ACE Commercial Risk Services (ACE CRS), the small commercial
specialty lines business of ACE Group that serves small businesses
with diverse and accessible insurance options, today announced
several new products that expand its suite of Specialty Commercial
Products.
These expanded products are available through ACE Solutions Fast
TrackSM, the online small business underwriting solution from ACE
Commercial Risk Services that rapidly quotes and issues a policy in
an insurance broker’s office in 5 minutes or less. The new products
and coverages include:
- Lessor’s Risk BOP: Business Owners
Policy (BOP) to protect owners of real estate investment property
rented to others
- Liquor Liability: Covering hospitality
risks including bars, restaurants, retail stores, and
nightclubs
- Commercial Umbrella: Umbrella coverage
over the ACE BOP or other approved package, auto, and employer
liability carriers
- Employment Practices Liability
Insurance BOP Enhancement (EPLI): Provides coverage for defense
costs and damages stemming from various employment-related
claims
- Privacy Liability & Data Breach
Insurance BOP Enhancement (Cyber): Provides coverage for attorney’s
fees and damages for not properly handling, managing, storing,
destroying or otherwise controlling personal information
- Professional Liability BOP Enhancement:
provides ACE Errors & Omissions coverage on a BOP endorsement
to a wide range of professional classes
“Our goal at Commercial Risk Services is to continue to expand
our product offerings for small businesses in North America so that
our brokers can provide a complete insurance solution,” said David
Charlton, President, Specialty & Micro Lines, ACE Commercial
Risk Services. “With these new products and services enabled on our
ACE Solutions Fast Track system, we are delivering customizable
coverage for twice the number of business class codes we have
offered in the past. This further enhances our commitment and
superior service to insurance brokers serving small businesses
across a wide range of industries throughout the United
States.”
The ACE Solutions Fast Track system has also added the following
new features:
- Pre-fill building data such as year
built, construction, occupancy, number of stories, and square
footage
- Building valuation estimator
- Business Personal Property
estimator
These products for small businesses are the latest generation of
new and enhanced ACE CRS products servicing small business.
Recently launched ACE CRS products and enhancements include
Professional Offices, Retail Stores, Service Businesses, 1–4 Family
Rental Dwellings, Artisan Contractors, and Non Profit Directors
& Officers liability with a BOP endorsement.
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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