ACE USA Expands Environmental Insurance Policy to Respond to Growing Needs of Global Companies.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 suite of environmental liability insurance products to meet the unique exposures of U.S. multinational organizations with global locations. This coverage, available for ACE USA's environmental clients, enables domestic and international exposures to be covered through a matrix of admitted and non-admitted policies around the world to protect multinational companies from environmental liability risks and exposures. The Global Environmental Policy offered through ACE USA provides a broad range of environmental liability coverage benefits for stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. in residential, commercial and industrial facilities. This policy applies to environmental claims not only in the U.S., but anywhere in the world where non-admitted coverage is allowed. In the event non-U non-U adj. Chiefly British Not characteristic of the upper class, especially in language usage. [non- + U2. .S. coverage is needed, the company can access its global network of local underwriters. "As the environmental regulatory and legal landscape is becoming more sophisticated around the globe, multinationals are adding environmental insurance to their portfolios. The challenges and complexities of placing this coverage outside the U.S. is daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin even for sophisticated risk managers. ACE USA's expanded environmental insurance programs respond to requests for coverage in jurisdictions outside the U.S.," said William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack Hazelton, Senior Vice President, ACE Environmental Risk. David Brosnan, President of ACE Casualty Risk added, "The rise in the number of U.S.-based companies going global creates tremendous opportunities in the marketplace, as well as a more volatile and risky environment. Working with ACE provides access to a powerful global network of affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. and non-affiliated network partners located throughout the world. As a leader in providing innovative risk management solutions, we're pleased to assist our clients with access to environmental policies in countries where local jurisdictions require local coverage." Key Features of ACE USA's Global Environmental Program:* * Ability to arrange for delivery of environmental liability policies outside of the US * Superior service, from product inquiries to claims-handling * Includes valued services offered through access to dedicated environmental underwriters and professionals and best-in-class network of global claims professionals ACE Environmental Risk, a division of ACE USA, offers a full range of environmental liability solutions designed to minimize bottom line impacts and provide hands-on management for those liabilities. ACE's environmental liability offerings include premises pollution liability, contractor's pollution liability, and 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. programs. These programs are primarily distributed through the retail brokerage community to the commercial market. To learn more about ACE Environmental Risk's products and services, please visit www.aceenvironmentalrisk.com. *Product highlights are summaries only; please see actual policy for terms and conditions. Products may not be available in all locations. 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 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. 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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