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| [March 20, 2013] |
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ACE Offers Borderless International Pollution Liability Coverage for U.S.-based Multinational Companies
PHILADELPHIA --(Business Wire)--
ACE USA, the U.S.-based retail operations of the ACE Group, today
announced the introduction of the Foreign Casualty Pollution Liability
Coverage Endorsement. This new endorsement provides a limited pollution
coverage extension in conjunction with ACE ATLAS CMPSM, ACE's
U.S. Controlled Master Program (CMP) policy, which is designed to
provide coverage for U.S.-based multinational organizations with complex
exposures. The expanded coverage offers borderless international
pollution liability protection for certain gradual as well as sudden and
accidental first and third-party environmental liabilities.
ACE ATLAS CMP is part of the ACE USA International Casualty
product suite for U.S.-based, mid-sized to large multinational companies
that have operations or employees who travel outside the U.S. The
product offerings range from guaranteed cost package policies to complex
multinational programs with sophisticated risk transfer options. As part
of the product suite, ACE also has the ability to coordinate locally
admitted policies across the entire ACE global network through ACE
WorldviewSM, a web-based information portal for risk
managers and brokers with multinational insurance programs that provides
an up-to-date status of their entire global program.
"ACE continuously looks for ways to assist multinational companies with
their growing coverage needs," said Bryan Tedford, Senior Vice
President, ACE Foreign Casualty. "The addition of this
environmentally-focused endorsement further demonstrates ACE's
commitment to providing insurance and risk management solutions for our
U.S.-based, mid-sized and large multinational clients that do business
globally."
Jon Peeples, Vice President, ACE Environmental Risk aded, "Our goal in
creating this endorsement is to help multinational businesses mitigate
the risks associated with ongoing environmental exposures. This new
endorsement allows ACE to provide customized, innovative risk management
solutions to address the growing complex environmental risks and
exposures multinational risk managers may face throughout their
day-to-day operations."
Key features of the Foreign Casualty Pollution Liability coverage
endorsement include:
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Dedicated Limit of Liability - $1M per / $1M aggregate
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First and third party coverages for new pollution conditions on a
gradual basis, including:
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Bodily injury and property damage to the personal property of a
third party on, at, or under a covered location
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Bodily injury, property damage, and remediation costs arising out
of pollution conditions migrating from a covered location
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Damages and claim expenses resulting from a government action
arising out of a pollution condition on, at, under, or migrating
from a covered location
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International coverage territory
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Dedicated environmental claims specialists
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Backed by the ACE Group's financial strength and excellent reputation
ACE Foreign Casualty and ACE Environmental Risk are both divisions of
ACE USA, and part of the ACE Group. ACE Environmental Risk offers a full
range of environmental liability solutions designed to minimize
bottom-line impacts, and provides hands-on management for those
liabilities. For more information about ACE Environmental Risk and its
range of products and services, please visit
our website. For more information about ACE Foreign Casualty, please visit
our website.
Insurance is provided by insurance companies within the ACE Group. All
products may not be available in all jurisdictions. The product
information above is a summary only. The insurance policy actually
issued contains the terms and limits of the contract.
ACE USA is the U.S.-based retail operating division of the ACE Group,
headed by ACE Limited, 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.acegroup.com/us.
The ACE Group is one of the world's largest multiline property and
casualty insurers. With operations in 53 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident supplemental health insurance, reinsurance, and life insurance
to a diverse group of clients. ACE Limited, the parent company of the
ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a
component of the S&P 500 index. Additional information can be found at: www.acegroup.com.

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