PHILADELPHIA--(BUSINESS WIRE)--
ACE Group today announced the introduction of ACE Agriculture Premise
Pollution Liability coverage -- a new, best-in-class product that
provides limited pollution liability protection in conjunction with
ACE’s Agribusiness Commercial General Liability policy. The expanded
coverage offers commercial companies that process and distribute
agricultural products with pollution-liability protection for sudden and
accidental as well as gradual environmental liabilities, such as
pesticides, chemicals, fertilizer, and other hazardous materials.
The agriculture industry interacts more closely with the natural
environment than almost any occupational group. According to the United
States Department of Agriculture, the industry contributed $775.8
billion to the U.S. Gross Domestic Product (GDP) in 2012.1
The addition of this environmentally-focused product from ACE provides
insurance and risk management solutions to off-set emerging exposures.
“As sophisticated as the commercial agriculture industry is today,
environmental risks and regulations have become just as complex, leaving
companies susceptible to catastrophic pollution losses,” said Philip
Twietmeyer, Senior Vice President, ACE Agriculture. “In recognition of
the need to mitigate emerging pollution exposures, we are pleased to be
able to provide our clients and brokers with this new, enhanced admitted
coverage for pollution liabilities.”
Key features of the optional Agriculture Premise Pollution Liability
coverage include:
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Minimum Premiums starting at $1,500
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Limit of Liability Options - $250,000 per claim/$250,000 aggregate and
$500,000 per claim/$500,000 aggregate
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First and third party coverages for new pollution conditions on a
gradual basis, including:
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Bodily injury and property damage to the personal property of a
third party on, at, or under a covered location
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Bodily injury, property damage, and remediation costs arising out
of pollution conditions migrating from a covered location
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Damages and claim expenses resulting from a government action
arising out of a pollution condition on, at, under, or migrating
from a covered location
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Coverage for emergency response costs arising out of pollution
conditions on, at, under, or migrating from a covered location
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Access to report pollution emergencies via ACE
ALERTSM
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Dedicated environmental claims specialists
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Backed by ACE Group’s financial strength and excellent reputation
To read more detail about the coverage expansion including conditions, click
here. 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.
ACE Environmental Risk, is a division of ACE USA, and part of ACE Group.
ACE Environmental Risk offers a full range of environmental liability
solutions designed to minimize bottom-line impacts, and provide hands-on
management for those liabilities. For more information about ACE
Environmental Risk and its range of products and services, please visit
our website.
ACE’s agriculture businesses, Rain and Hail, and ACE Agribusiness,
headquartered in Johnston, Iowa, is one of the largest providers of
multi-peril crop insurance and a leading provider of crop hail and
commercial agricultural insurance to farmers and businesses in the
United States and Canada.
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.
1 http://www.ers.usda.gov/data-products/ag-and-food-statistics-charting-the-essentials/ag-and-food-sectors-and-the-economy.aspx
Source: ACE Group