ACE USA Launches Global Property Corporate Risk Program.First-Party Coverage Tailored for U.S. and Global Middle Market Exposures PHILADELPHIA -- ACE USA, the U.S. based retail operating division of the ACE Group of Companies, today announced the launch of first-party coverage tailored for domestic and global exposures of medium- to large-sized U.S. companies. The ACE USA Global Property - Corporate Risk Program offers coverage to a broad range of industries including the following classes: financial institutions, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. , logistics, manufacturing, services, higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. , construction, retailers and wholesalers, distributors, real estate, transportation, and technology/electronic equipment companies. Offered through the ACE 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. Group, a division of ACE USA, the ACE USA Global Property - Corporate Risk product will provide worldwide property coverage under a single program to qualified applicants whose global revenues are typically between $50 million and $1 billion. The minimum deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). will be $10,000. "As a leader in providing risk management solutions to the large industrial account segment, establishing this new corporate risk global property initiative allows us to focus on serving the middle market segment--an increasingly evolving marketplace with specific and unique needs," said Wolfgang Friedel, Executive Vice President, Property & Specialty Lines, ACE Global Underwriting Group. "With its specialized teams of experienced, seasoned underwriting and claims management professionals and a global presence, ACE can better respond to requests for property risk insurance coverage in jurisdictions outside the U.S." Additionally, ACE USA's Global Property - Corporate Risk product offers the following under this program: * All Risk Property coverage, combined with ocean cargo and inland transit * Domestic terrorism Noun 1. domestic terrorism - terrorism practiced in your own country against your own people; "the 1995 bombing of a federal building in Oklahoma City was an instance of domestic terrorism" coverage for certified See certification. and non-certified accounts * Global network of property engineering and loss control consultants * Global network of products and services to provide comprehensive property coverage The following coverages are also available on a stand-alone basis: * First-party cyber (1) From "cybernetics," it is a prefix attached to everyday words to add a computer, electronic or online connotation. The term is similar to "virtual," but the latter is used more frequently. See virtual. risk coverage to help businesses and organizations of every size address key network and consumer data exposures * Crime & Fidelity coverage The above is only a summary; please see the actual policy for terms and conditions. To review additional product features and check submission requirements, please visit: www.ace-ina.com. For more information about ACE USA Global Property - Corporate Risk Program, please call Pete Detmering at (215) 640-2006 or peter.detmering@ace-ina.com. 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. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion