Texas is the only state that allows private employers to opt out of the state's workers compensation system. An employer who elects not to participate in the state program is called a non-subscriber. According to the data released by the Texas Department of Insurance Workers Compensation Research Group in October, 2004, (www.tdi.state.tx.us/company/roc/wcresearchhome.html) 38% of all Texas businesses are non-subscribers. This number is increasing.
"We are pleased to give Texas employers a cost-effective and innovative alternative to the state workers compensation system," said Joe Vasquez, Executive Vice President of ACE Accident & Health. "Our Primary Employer Indemnity (PEI) product offers this coverage to the small and mid-size employers who opt out of the state program, but wish to reduce the potentially catastrophic financial impact of occupational injuries on their bottom line."
In addition to traditional occupational accident coverage, ACE's Primary Employer Indemnity (PEI) product now provides protection for the policyholder in the event an employee sues for workplace negligence as the cause of an occupational accident. Benefits include amounts paid to obtain a release of liability, to settle a claim, to pay a judgment, or to reasonably defend, mediate or arbitrate a claim.
ACE offers flexible limits and plan options so employers can design a plan of benefits that best meets their needs. "Under a properly designed plan, an employer can realize substantial savings on occupational-related injury claims," explains Carol Adams, Senior Vice President of ACE USA Accident & Health. "ACE's Primary Employer Indemnity product offering is designed to give employers reliable insurance protection while helping them to make their businesses safer places to work." ACE's experienced claim administrators work with employers to manage claims and to help control exposure, claim costs and the lost productivity associated with job-related accidents.
ACE Accident & Health is committed to delivering a wide range of insurance products--from traditional employer accident programs to specialty coverages for various types of groups and their members. These products help to protect against the serious financial consequences of a sudden injury or illness.
ACE USA Accident & Health Key Products
-- Corporate Accident and Global Medical products
-- Special Risk Products for schools and other participant groups
-- Limited benefit plans and managed care carve out products
To learn more about ACE USA Accident & Health's products and services, visit www.aceaccidentandhealth.com.
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 for a diverse group of clients around the world.