PHILADELPHIA--(BUSINESS WIRE)--
ACE Group today announced the release of a new advisory entitled,
“Managing Real Estate Liability Risks in a Changed Market,” which
examines core risk management concerns for commercial real estate
property owners and managers. The advisory provides a guide to some of
the most volatile exposures that are occurring in today’s market. It
also discusses the importance of evaluating these risks, reinforcing
risk management strategies and assessing insurance programs to ensure
the appropriate primary and excess coverages are in place to mitigate
potential exposures.
“As the U.S. commercial real estate market improves, risk management
considerations that once had been put aside are now coming to the
forefront and should be reexamined,” said Carol Laufer, Executive Vice
President, ACE Excess Casualty. “ACE’s Excess Casualty practice has
developed this advisory to provide the industry with practical and
timely information on these immediate and developing risks. In addition
to providing industry insight and solutions on current trends, our
practice is committed to offering a complete suite of products and
expertise to help manage and prepare for possible risks and exposures.”
The new ACE Advisory was authored by Joseph Fobert, Senior Vice
President, ACE Excess Casualty. The advisory is part of a larger series
of papers that ACE produces, which are designed to provide useful
information on current industry topics faced by risk managers.
The advisory highlights a number of key exposure areas and discusses how
the risks in some cases have become greater, while others continue to
evolve. According to Mr. Fobert, “In light of the state of today’s
market and heightened exposures, real estate companies should strengthen
their risk management efforts and also assess their insurance program to
make sure that they have the right primary and excess coverages. Working
with an insurance carrier that understands both the potential risks and
the industry should be a key component of the overall risk management
strategy.”
To access the report, please visit
our website. The material presented in this report is not intended
to provide legal or other expert advice. It is presented as
informational only. Readers should consult legal counsel or other
technical experts, as applicable, with any specific questions they may
have.
ACE Excess Casualty, part of ACE USA, provides worldwide lead umbrella
and excess liability insurance for U.S.-based multinational companies.
ACE products are backed by substantial, financially secure capacity, and
are designed to address global catastrophe exposures. For more
information, please visit
our website.
ACE USA is part of ACE Group, which 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 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, at https://twitter.com/ACE_GroupNA.
Source: ACE Group