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ACE announces new stand-alone product recall underwriting unit and names Florian Beerli as head of unit.

M2 EQUITYBITES-June 27, 2012-ACE announces new stand-alone product recall underwriting unit and names Florian Beerli as head of unit(C)2012 M2 COMMUNICATIONS http://www.m2.com

Wholesale US based insurance division of the ACE Group of property and casualty insurers headed by ACE Limited (NYSE:ACE), ACE Westchester launched a new stand-alone product recall underwriting unit in response to the increased associated risks, it revealed on Tuesday.

The new product will offer reimbursement for product recalls and cover third-party expenses associated with consultants from claims arising due to product recall.

Additionally, the company named Florian Beerli as SVP of Product Recall Underwriting for Insurance-North America, who will be based in Woodbridge, Connecticut and report to division president of ACE Westchester, Bruce Kessler. He will work with all the ACE branches to deliver the full range of crisis management services and first-party product recall insurance for consumable products, consumer goods, component parts and food borne illness for restaurants.

Beerli has over two decades of insurance industry experience mainly in crisis management and most recently was with Crum & Forster as VP of Crisis Management. Earlier he was head of the Crisis Management Division for Catlin US and held a senior underwriting position at American International Group (AIG) in its Crisis Management Unit.

Further, the new ACE Westchester product recall product offering is underwritten and provided by insurance companies within the ACE Group though all products may not be available in all jurisdictions, while surplus lines insurance is sold through licensed surplus lines brokers only, the company mentioned.

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Publication:M2 EquityBites (EQB)
Date:Jun 27, 2012
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