ACE USA Expands Capabilities of ACE TankSafe for Web-based Underwriting of Underground Storage Tank Policies.PHILADELPHIA -- Web-based Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. Product Expanded to Include Above-ground Storage Tank Policies ACE USA today USA Today National U.S. daily general-interest newspaper, the first of its kind. Launched in 1982 by Allen Neuharth, head of the Gannett newspaper chain, it reached a circulation of one million within a year and surpassed two million in the 1990s. announced that ACE TankSafe(SM) --its web-based underwriting facility for underground storage tanks An Underground Storage Tank (UST), in United States environmental law, is a tank and any underground piping connected to the tank that has at least 10 percent of its combined volume underground. that enables contracted brokers to conduct automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. underwriting transactions from submission to issuance in a quick and easy manner--will now offer above-ground coverage. ACE TankSafe is offered through ACE Casualty Risk's environmental underwriting unit and targets underground and above-ground storage tank insurance products, from the small tank policies to large industrial portfolios. "ACE TankSafe continues to fill a critical role in providing a more flexible and cost effective online underwriting facility for environmental insurance transactions," said Geoff Gregory, President, ACE Casualty Risk. "Expanding this site to include both underground and above-ground storage tanks in response to the needs of our customers and brokers was the impetus for making these product enhancements." Highlight of features available through ACE TankSafe include: --Simple on-line application process --Real-time rating and format quote generation --Instantaneous policy and certificates issuance --Easy electronic account management ACE Casualty Risk offers a full range of environmental liability insurance solutions designed to minimize bottom line impacts and enhance 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 finite - compact risk programs. For more information, send all inquiries via email to tanksafe@ace-ina.com or visit www.acetanksafe.com. ACE TankSafe(SM) is underwritten by ACE Property and Casualty Insurance Company, which is part of ACE USA. ACE USA is the U.S.-based retail operating division of The ACE Group of Companies, headed by ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE), and is rated A (Excellent) by A.M. Best Company and A+ (Strong) by Standard & Poor's. ACE USA, through its underwriting companies, 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 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. for a diverse group of clients around the world. |
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