ACE USA Appoints William Wise To Lead Terrorism Underwriting Unit.Business Editors PHILADELPHIA--(BUSINESS WIRE)--Dec. 3, 2003 ACE USA today announced the appointment of William Wise, Vice President, to leads its stand-alone Terrorism Underwriting Unit. Based in Philadelphia, Mr. Wise will have overall responsibility for the marketing and underwriting operations of ACE USA's terrorism-related specialty product offerings, which address coverage gaps created by the Terrorism Risk Insurance Act The Terrorism Risk Insurance Act (TRIA) is a United States federal law signed into law by President George W. Bush on November 26, 2002. The Act created a federal "backstop" for insurance claims related to acts of terrorism. (TRIA). "I am pleased to welcome Bill in his new role leading the Terrorism Underwriting Unit. He is a seasoned insurance veteran with an accomplished record in insurance, information technology operations Information technology operations, or IT operations, are the superset of all processes and services that are both provisioned by an IT staff to their internal or external and used by themselves, to run themselves as a business. and global risk management," said John Gallagher, Senior Vice President of ACE USA US International. "His proven leadership will help us to continue to provide specialty solutions for terrorism-related insurance needs and address new product development initiatives." This stand-alone terrorism program from ACE USA includes coverage for losses resulting from acts of domestic terrorism for U.S.-based accounts with domestic or international exposures. Mr. Wise joined ACE USA in 2002 as Vice President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for ACE Diversified Risk, a division of ACE USA, where he oversaw the day-to-day operations and audit compliance activities. Previously, he held various management positions at Munich-American RiskPartners and American Re-Insurance Company in global risk and crisis management, information technology and business continuity management. Mr. Wise attended John Jay College of Criminal Justice John Jay College of Criminal Justice: see New York, City University of. in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . In addition, he served in the United States Marine Corps United States Marine Corps (USMC) Separate military service within the U.S. Department of the Navy (see U.S. Navy), charged with providing marine troops for seizure and defense of advanced bases and with conducting operations on land and in the air in connection with . Terrorism coverage is marketed through both retail and wholesale insurance brokers. Wholesale distribution is coordinated through ACE Westchester Specialty Group, the U.S.-based wholesale focused excess and surplus property and casualty operation of the ACE Group of Companies. For more information, please contact 215.640.5242. ACE USA, headquartered in Philadelphia, is the U.S.-based operating division of the ACE Group of Companies, owned by ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE). ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world. |
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