LONDON--(BUSINESS WIRE)--
ACE Group today announced that it will offer increased insurance
capacity of up to US$100m/ €100m (previously US$50m/ €50m) for
terrorism, political violence and war risks as it further builds its
market-leading proposition in response to evolving threats and increased
demand from multinational clients.
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Piers Gregory, Terrorism and Political Violence Underwriting Manager, ACE Overseas General (Photo: Business Wire)
The announcement follows new research by ACE which shows that 68% of
risk managers across Europe, the Middle East and Africa believe that
terrorism is a growing concern for business, and 75% agree that recent
global events are causing them to review their security and travel
policies.1
The increased capacity will be available to brokers and their clients in
the UK and Continental Europe and is designed to meet the needs of
large, multinational businesses with growing global exposures.
Since 2008, ACE has steadily invested in building its terrorism and
political violence insurance capabilities and provides brokers and
clients with comprehensive cover for the full spectrum of perils. In
addition to standalone cover, the company also offers an integrated
proposition specifically designed to cover the gaps between traditional
property and business interruption, terrorism and political violence
insurance policies2.
Piers Gregory, Terrorism and Political Violence Underwriting Manager,
ACE Overseas General, said:
“Brokers and clients are looking for certainty to confront the
challenges of an increasingly volatile global environment. They want to
ensure that their assets and people have appropriate terrorism and
political violence cover wherever they are located and however the
threat manifests itself – be it terrorism, civil disturbance, riot,
political violence or even full-blown war.”
“The increase in capacity to US$100m demonstrates our commitment to
responding to growing client demand for certainty and comprehensive
cover across the full range of perils. As the needs of our clients
become increasingly international, ACE is also one of the few insurers
with the multinational capability to help them design the compliant
global insurance programmes that they need in an ever more globalised
operating environment.”
ENDS
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 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
1 ACE Emerging Risks Barometer, July 2015
2 This is known as ACE Shield in the UK
View source version on businesswire.com: http://www.businesswire.com/news/home/20150709005015/en/
Source: ACE