ACE USA and ACE Westchester Specialty Group's Architects & Engineers Coverage Goes Online; New Real-time Web-based Tool Offers Producers Ability to Rate, Quote and Bind.PHILADELPHIA -- ACE USA and ACE Westchester Specialty Group, both part of the ACE Group of Companies, today announced that the ACE Online(SM) division has introduced an online application that provides selected producers with the ability to obtain rates, quotes and binders for qualified Architects & Engineers Professional Liability coverage through a new website: www.aceonline.com. The ACE USA and ACE Westchester Specialty Group Professional Risk Architects & Engineers Liability Policy offers coverage to help protect design professionals from possible financial loss and unexpected claims that could damage the reputation they have worked so hard to build. This new website offers brokers valuable benefits, including the ability to: --Quickly obtain multiple quotes based on selected coverage options --Deliver system-produced application, quote and binder binder: see combine. An earlier Microsoft Office workbook file that let users combine related documents from different Office applications. The documents could be viewed, saved, opened, e-mailed and printed as a group. documents --Provide fast turnaround for referred submissions --Manage submission activity from the online work list "ACE is committed to the design professional market by providing professional liability coverage that helps to protect design professionals stem losses resulting from negligence, errors and omissions errors and omissions n. short-hand for malpractice insurance which gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence. in the performance of professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. ," said Paul Dietrich, Vice President, ACE Professional Risk. "Providing tailored products and services to the network of independent brokers who have demonstrated their commitment and expertise to the construction and design professional market--particularly those firms with revenues up to $1M--will allow for a more streamlined process in serving the unique needs of this market," said Nat Aiken, Vice President, ACE Westchester Specialty Group. The ACE USA and ACE Westchester Specialty Group's--Architect's and Engineers Professional Liability policy offers the following benefits: --Admitted policies available in most states --Retention mediation provision --Worldwide territory --CPL available for design professions --Supplemental coverage provided for pre-claims experience --Supplemental coverage provided for ADA Ada, city, United States Ada (ā`ə), city (1990 pop. 15,820), seat of Pontotoc co., S central Okla.; inc. 1904. It is a large cattle market and the center of a rich oil and ranch area. , FFHA FFHA Federal Fair Housing Act FFHA Florida Fair Housing Act and OSHA OSHA n. Occupational Safety and Health Administration, a branch of the US Department of Labor responsible for establishing and enforcing safety and health standards in the workplace. fines, sanctions or penalties --Supplemental coverage provided for claims-related expense of the insureds --Coverage provided for claims-related expense of the insureds --Coverage provided for punitive and exemplary damages exemplary damages n. often called punitive damages, these are damages requested and/or awarded in a lawsuit when the defendant's willful acts were malicious, violent, oppressive, fraudulent, wanton, or grossly reckless. , where insurable under law Mike Baeurle, Senior Vice President of ACE Online(SM) said, "Our focus in designing this portal was two-fold: first, rapid development of valuable online business tools and, next, creating solutions to help meet the needs of our producers. Before beginning work on building this system, we spent numerous hours meeting with brokers to better understand their needs and workflow requirements. We feel that obtaining this critical feedback and applying it to our system has enabled us to develop a 'best in class' system for providing online products and services while reducing production costs." Staffed by a team of innovative underwriters, ACE Professional Risk is the operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon within ACE USA, which distributes management liability, professional liability and surety An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act. surety n. products through retail brokers throughout the U.S. and Canada. ACE Westchester Specialty Group - Professional Risk distributes management liability, professional liability and surety products through wholesale brokers throughout the U.S. ACE Online is the real-time, quote and bind portal for web-delivered ACE USA insurance products and customized risk management services and tools. 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 the ACE USA Professional Risk - Architects & Engineers Professional Liability policy, retail producers should call Paul Dietrich, Vice President, ACE Professional Risk at (215) 640-4854. Wholesale producers should call Marie LaForest Snyder, Underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. , ACE Westchester Specialty Group at (215) 640-5232. 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. ACE Westchester Specialty Group is the U.S.-based wholesale focused excess and surplus property and casualty operations of the ACE Group of Companies. 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. All products may not be available in all states, and surplus lines products are only available through licensed surplus lines brokers. |
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