ACE USA to Expand Distribution Channels to Better Serve Customers; Offers the ACE Disaster Mortgage Protection Policy Through General Agents.PHILADELPHIA -- ACE USA, the U.S.-based retail operations of the ACE Group of Companies (NYSE NYSE See: New York Stock Exchange :ACE) today announced that it has expanded distribution of its ACE Disaster Mortgage Protection(SM) (DMP DMP Dossier Médical Personnel (France) DMP Debt Management Plan DMP Debt Management Program DMP Digital Media Project DMP Dot Matrix Printer DMP Designated Mailer Protocol DMP Dynamic Multi-Pathing (SM)) product outside of its traditional mortgage service provider channel. This expanded distribution strategy will now allow general agents and their producers direct access to real-time quoting and buying of DMP coverage through a dedicated website: www.marketplacemakers.com. ACE Disaster Mortgage Protection insurance pays a homeowners' monthly mortgage payment (including taxes and escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. ) while also making available emergency cash should their home become uninhabitable for 48 hours or more due to a covered disaster causing damage to their home. Payments may be made for up to two full years while the home is repaired or rebuilt. Additionally, ACE Disaster Mortgage Protection insurance provides added coverage by reimbursing insureds their 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). amount under their primary property insurance (homeowners, flood, windstorm wind·storm n. A storm with high winds or violent gusts but little or no rain. windstorm A storm with high winds or violent gusts but little or no rain. or earthquake) when there is a reported and covered loss to their property. "We are pleased to join with MarketPlace Makers in opening this new distribution channel to general agents and their producers. The recent windstorm losses in Florida, along with the storms and mudslide losses in California, made us aware that we must make our ACE Disaster Mortgage Protection product available to a broader group of American homeowners," said Patricia Goudarzi, Executive Vice President, ACE Select Markets. "Homeowners may not be aware that while the typical property policy pays for the repairs to their home, it does not make their mortgage payments or provide emergency cash if the home becomes uninhabitable. Extending this opportunity for eligible homeowners was the impetus for the creation of this unique distribution channel - a dedicated website created by MarketPlace Makers to sell ACE DMP through general agents." MarketPlace Makers, Inc. is a marketing company that distributes ACE Disaster Mortgage Protection insurance coverage on behalf of ACE Select Markets to the general agent community. To learn more, please visit www.marketplacemakers.com or contact Frank Minton at frank@marketplacemakers.com. In addition, National Insurance Underwriters (NIU NIU Northern Illinois University NIU Niue (ISO Country code) NIU Network Interface Unit NIU Not in Use NIU National Interdiction Unit (Afghanistan) NIU National I-Lan University ), an affiliated company of National Safe Drivers (NSD NSD Nairobi sheep disease. ), based in Deerfield Beach, Florida Deerfield Beach is a city in Broward County, Florida, USA. The city is named for the numerous deer that once roamed the area. As of 2004, the population estimated by the U.S. Census Bureau is 76,478. , has become the first general agency to join the MarketPlace Makers online platform. NIU will market the ACE Disaster Mortgage Protection product through the independent agency channel. Howard Goldfarb Howard Goldfarb is a Canadian poker player, chiefly noted as the runner-up of the 1995 World Series of Poker (WSOP). At the time he was a 33-year-old land developer and businessman from Toronto. , Senior Vice President of National Safe Drivers commented, "The opportunity to provide our agent clients with direct access to the ACE Disaster Mortgage Protection program appealed to us because--as ACE DMP is a new product to the agency marketplace--we understand the need the American homeowner has for this product, and this new online platform will make it easy for our agents to market the product to customers." The ACE Disaster Mortgage Protection(SM) Policy is underwritten by ACE American Insurance Company in all states, except in Florida where the coverage is underwritten by Bankers Standard Insurance Company. Both companies are members of The ACE Group of Companies, rated A (Excellent) by A.M. Best Company and A+ (Strong) by Standard & Poor's. This product is not available in AK, CT, NJ, SD, and TX. Coverage applies to primary residences only. Coverage is available in certain states for properties containing more than two separate household units, such as triplexes, townhomes and condominiums. This insurance provides no coverage for rental properties, mobile homes, and manufactured homes. ACE Select Markets, a division of ACE USA, focuses on the 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. and marketing of specialty insurance products targeted towards specific insurance buyers, affinity groups A special interest group. This is a marketing term for a group of people with similar interests. , small businesses and niche industries. Products and services are offered through a network of specialty agents as well as unique distribution channels and partners. Products and services include coverage for recreational boats and yachts, the ACE Disaster Mortgage Protection(SM) Policy, and credit card enhancement programs. ACE USA is the U.S.-based retail operating division of The ACE Group of Companies, headed by ACE Limited (NYSE: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. |
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