ACE Casualty Risk to Expand Product and Service Offerings for Environmental Risk Market.Business Editors PHILADELPHIA--(BUSINESS WIRE)--April 4, 2003 ACE Casualty Risk today announced that it would provide broader product and service solutions for the environmental risk market through its environmental underwriting unit--ACE Environmental Risk (AER). The expanded offerings include: A package policy covering environmental Contractors Pollution Liability and environmental consultants Errors & Omissions (CPL/E&O); Enhanced Contractors Pollution Liability (CPL CPL - Combined Programming Language. U Cambridge and U London. A very complex language, syntactically based on ALGOL 60, with a pure functional subset. Provides the ..where.. form of local definitions. Strongly typed but has a "general" type enabling a weak form of polymorphism. ) coverage; and value-added engineering services including a comprehensive 24/7 environmental crisis management and environmental claims reporting through a toll-free hotline. "ACE continues to respond to the demand for increased capacity for environmental liability products and has the financial strength and underwriting capabilities to service the needs of the environmental liability market," said Susan Rivera, president, ACE INA Ina (ē`nä), city (1990 pop. 60,062), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural and industrial center with a famous agricultural school. Holdings, Inc. "The expanded product and service offerings of the Environmental Risk unit complements many of ACE's existing product offerings and overall business strategy." Contractors Pollution Liability Coverage with an enhancement is designed to offer claims-made-and-reported contractors pollution (CPL) coverage to commercial contractors with coverage for mold-related claims. Coverage is offered up to $100,000 beginning on day one, and includes the ability to secure higher sub-limits after AER specialists conduct a detailed Mold Awareness Training Program, at AER's expense. Contractors Pollution Liability and Environmental Consultants Errors & Omissions (CPL/E&O) is a package policy designed for medium-sized environmental contractors and consultants who derive a majority of their revenues from environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, . AER's CPL/E&O policy protects against pollution liability for gradual as well as sudden and accidental third-party environmental liabilities arising out of the covered operations of the insured. In addition, the coverage protects environmental consultants against claims arising out of errors and omissions errors and omissions n. short-hand for malpractice insurance which gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence. while performing professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. . AER's Value-Added Engineering Services offer insureds a built-in opportunity to enhance existing risk management programs with access to a national network of best-in-class engineering consultants. This helps reduce the frequency and severity of potential environmental claims and assists in implementing a proactive approach to potential environmental exposures. 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. These products are distributed through the brokerage community, and through wholesalers to the commercial market. Non-admitted products are marketed through licensed surplus lines brokers. ACE's environmental liability offerings also include premises pollution liability, contractor's pollution liability, remediation cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. and blended finite risk programs. For more information, please contact Karl Russek, vice president of ACE Environmental Risk at 215 640-4786. ACE INA Holdings Inc., whose ultimate parent is ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE), provides insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. products and services through operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. for a diverse group of clients around the world. |
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