ACE USA Creates New Construction Group; New Underwriting Unit to Respond to Unique Needs of Builders and Contractors.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--Sept. 19, 2003

ACE USA today announced the creation of the ACE USA Construction Group. This new construction underwriting unit will be staffed by a team of experienced construction professionals dedicated to addressing the unique insurance needs of builders and contractors.

ACE USA Construction Group will work collaboratively with brokers, design professionals and contractors to develop effective risk management solutions utilizing both traditional and non-traditional approaches. These products will be distributed through the brokerage community to the commercial market. ACE USA Construction Group will write for all classes of construction business, including large general contractors, construction managers, design professionals and specialty contractors, homebuilders, wrap-ups, and other project-specific risks.

Leading this new unit is Barbara Matthews, who adds this role to her current position as vice president of Construction Wrap-ups for ACE Risk Management. Ms. Matthews has nearly 25 years of insurance industry and underwriting management experience, and for the past 18 years has focused on construction risk management and underwriting at ACE USA and its predecessor companies. Matthews previously worked for CNA, Continental and Royal Insurance Company in a variety of senior underwriting positions.

"We believe that brokers and contractors need committed insurance partners. Bringing together our construction risk experts in a more focused and coordinated manner underscores the importance we place on this market segment," said Bill Curcio, President of ACE Risk Management, a division of ACE USA. Mr. Curcio will oversee the ACE USA Construction Group. "We have the ability to develop unique programs that respond to the individual needs of contractors. With the creation of the ACE USA Construction Group, we are able to provide comprehensive insurance programs, access to alternative risk transfer products such as captives, and access the capability of qualified risk control specialists and construction-specific claims expertise."

With a nationwide team of 10 experienced construction professionals, ACE USA's new unit will allow for a dedicated focus for all classes of the construction business.

"The combined talent and breadth of experience of the ACE Construction Group team, as well as their broad knowledge in construction risk management and underwriting services, will be invaluable in providing creative insurance solutions for the construction risk management market," said Jay Lefkowitz, Senior Vice President & Director of Field Operations for ACE Risk Management.

The following are the specific products and services that are offered by the new ACE USA Construction Group:

Products:

-- Architects & Engineers Professional Liability

-- Builders Risk

-- Commercial Auto Liability

-- Commercial General Liability (U.S. Exposures)

-- Commercial General Liability (International Exposures)

-- Contractors Equipment

-- Excess Umbrella

-- Inland Marine

-- Property Terrorism

-- WeatherBacker(SM) Rain Days Delay

-- Workers' Compensation 

-- Wrap Ups

Services:

-- ACE Specialty Claims (Construction Defect & Mold)

-- ESIS Construction Risk Management Services

ACE USA is a U.S.-based operating division of the ACE Group of Companies, owned by ACE Limited (NYSE:ACE). ACE USA provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.