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ACE combines domestic and international general liability coverages to
create a single solution for global companies within the middle market
segment
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Enhanced policy option is specifically designed to help multinational
companies navigate complex risks
PHILADELPHIA--(BUSINESS WIRE)--
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:
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U.S. local, admitted policies
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Locally admitted foreign policies
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Master U.S. Difference in Conditions/Difference in Limits (DIC/DIL)
policy to provide coverage in foreign jurisdictions that allow for
non-admitted policies
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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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Source: ACE Group