ACE USA Expands Capabilities of Its International Advantage Coverage; New Coverage Provides Insurance Protection for the Occasional International Business Traveler.PHILADELPHIA Philadelphia, ancient cities Philadelphia, name of several ancient cities. One was in Lydia, W Asia Minor (now W Turkey). At the foot of Mt. Tmolus and near the location of modern Alaşehir, it was founded in the 2d cent. B.C. -- ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, today announced that it has expanded its insurance products to offer additional coverage for companies doing business overseas. The International Advantage Express(SM) Policy offers streamlined coverage designed and priced to address the insurance needs of companies with short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. , occasional business travel outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Agents have instant rate, quote and bind access to this coverage by going to www.aceadvantage.com, where they can also file claims, submit service requests, and contact ACE USA underwriters. Backed by the global 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. capacity and financial resources of The ACE Group of Companies, and staffed by dedicated international underwriters, the International Advantage Express(SM) Policy is offered through ACE USA's International & Specialty Group. "With international trade in the U.S. on the rise and now accounting for one-third of the Gross Domestic Product, and the number of small- to mid-sized companies and organizations conducting business beyond U.S. borders greatly increasing, businesses are challenged to minimize their risks," said Andrew MacKinnon, Executive Vice President, ACE USA International & Specialty Group. "Today's agents and brokers need a fast, inexpensive and easy way to submit applications and meet the changing needs of their customers, in particular, the largely underserved class of occasional overseas business travelers. The International Advantage Express Policy provides a risk solution that combines coverage and service." The International Advantage Express(SM) Policy offered by ACE USA includes Foreign Travel Liability Coverage, including Rented Automobile and Contingent Employers Liability; Accidental accidental /ac·ci·den·tal/ (ak?si-den´t'l) 1. occurring by chance, unexpectedly, or unintentionally. 2. nonessential; not innate or intrinsic. Death & Dismemberment dismemberment /dis·mem·ber·ment/ (dis-mem´ber-ment) amputation of a limb or a portion of it. dismemberment amputation of a limb or a portion of it. and Medical Expense; Commercial Property and Kidnap & Extortion extortion, in law, unlawful demanding or receiving by an officer, in his official capacity, of any property or money not legally due to him. Examples include requesting and accepting fees in excess of those allowed to him by statute or arresting a person and, with coverage--in one easy-to-read policy. The submission requirements of this coverage are U.S.-based companies that employ workers who: --Travel periodically overseas (up to 10 trips annually) --Travel individually or in small groups (up to 10 per trip) --Travel up to 30 days per trip To review product highlights, check submission requirements and generate an instant quote proposal, brokers should visit www.aceadvantage.com. For more information about ACE International Advantage Express(SM) products and services, please call Alfred Bergbauer at (302) 476-6612. 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+ (Superior) 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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