MADRID--(BUSINESS WIRE)--
ACE Group today launched ACE Moda TM, a new packaged
insurance product designed to cover the casualty and fire risks of
companies in the fashion retail sector as it continues to develop its
proposition for retail and luxury goods companies across Iberia and
Continental Europe.
ACE Moda has been developed in response to client feedback and brings
together ACE’s extensive knowledge and experience in the retail sector.
Its launch reflects the changing needs of this increasingly globalised
industry in Iberia and follows the launch of ACE’s luxury goods practice
in Continental Europe earlier this year. The product features have been
specifically developed for the retail industry and ACE Moda is designed
to efficiently complement the company’s insurance offering in other
lines, such as group personal accident and business travel, directors
and officers liability, crime and marine.
Product benefits include:
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The innovative cover “No dress, no bride”, which covers the expenses
incurred by the insured due to the non-delivery of wedding dresses on
time because of an accident
-
Automatic inclusion of non-standard clauses, such as cover for image
restitution expenses due to product recall
-
The potential to include, in the same policy, terrorism and political
violence cover
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Ability to structure the product as a multinational programme from the
retailer’s first store opened abroad with access, for both broker and
client, to ACE’s global network and specialised multinational services
José Ramón Martínez, Property Insurance Manager for ACE in Iberia, said:
“At ACE, we continue to develop tailored products to meet the changing
needs of our clients. We have designed, with ACE Moda, a complete
product that includes specific and innovative guarantees for the retail
sector and also offers other guarantees that, although they already
exist in the market, were not included in policies automatically.
“Additionally, ACE Moda protects companies through their international
expansion, whether at the time of the first store opening or as they
continue to grow their global footprint and we always willing to share
our experience with brokers seeking to offer an improved international
service to their clients”.
ENDS
About ACE:
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.
Visit www.acegroup.com/eu
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Source: ACE Group