News Releases

PHILADELPHIA--(BUSINESS WIRE)--March 31, 2005--INAMAR(R), the marine marketing and underwriting division of ACE USA, today announced a new program with the Chapman School of Seamanship in Stuart, Fla. to offer insurance premium discounts to boaters who earn Chapman Powerboat Certification (CPC(TM)) following the successful completion of a qualifying boating safety and education course. 
 

"At INAMAR, we believe strongly that boater safety and education are worthwhile investments. Boaters who do not have adequate safety training and boating skills are far more likely to be involved in an accident," said Ray Stahl, President, INAMAR Recreational Marine Insurance. "The Chapman School's intensive training programs offer an impressive level of instruction, and boaters will greatly benefit from the combination of classroom and underway instruction. By offering a discount to students who earn Chapman Powerboat Certification, we hope to encourage more boaters to complete this advanced level of boating instruction."

Chapman's CPC program for recreational power boaters features extensive instruction and hands-on boat handling exercises while on the water. CPC courses are suitable for novice and experienced boaters alike, and cover topics such as navigation, piloting, seamanship and "blue water" skills. To receive certification, boaters must complete a CPC course and pass both a written and underway exam. Students are eligible for a discount from INAMAR if they receive certification upon completion of one or more of the following five-day courses: CPC 1000 - Basic Power Boating; CPC 2000 - Inland Cruising; CPC 3000 - Coastal Cruising; and CPC 4000 - Offshore Passage.

"Chapman's CPC program was developed in response to the significant need for more advanced training for recreational power boaters," said Jennifer Castle Field, President of the Chapman School of Seamanship. "Chapman certification signifies that boaters have the knowledge, skills and experience needed to safely and confidently operate a vessel in a wide range of situations. In addition, our students now receive the benefit of reduced insurance premiums from INAMAR."

Chapman students who are interested in receiving the insurance discount will be referred to an INAMAR agent in their local area to obtain an insurance quote.

INAMAR Recreational Marine Insurance is the exclusive source for marine insurance products from ACE USA, and one of the world's leading providers of marine insurance. INAMAR offers all-risk insurance coverage for vessels of all sizes - from the smallest to the largest - throughout the United States. Programs are available to protect the entire spectrum of pleasure yachts and boats and marine businesses, including luxury mega-yachts and sailboats, sport fishing boats, ski boats, personal watercraft, high performance vessels, select charter vessels and yacht clubs, marinas, boat dealers, and more.

To learn more about INAMAR and obtain valuable information on a wide range of safety and loss prevention topics, please visit www.INAMARmarine.com.

Chapman School of Seamanship was founded in 1971 as a not-for-profit maritime training institution, and was designated the "Maritime School of Florida" by the state legislature in 1982. More than 14,000 men, women and children from all 50 states and 39 foreign countries have trained at the school, with annual enrollment now averaging 1,000 students. For more information about the Chapman School of Seamanship, please visitwww.chapman.org.

INAMAR Recreational Marine insurance is a business unit of ACE Select Markets. Insurance policies issued by INAMAR are underwritten by subsidiary insurance companies of The ACE Group of Companies that are rated A (Excellent) by A.M. Best Company and A+ (Strong) by Standard & Poor's.

ACE Select Markets, a division of ACE USA, focuses on the underwriting and marketing of specialty insurance products targeted towards specific insurance buyers, affinity groups, 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 for a diverse group of clients around the world.