News Releases

ACE Disaster Mortgage Protection(SM) Policy Complements Consumer Offerings; Expands Producer Distribution, Boosts Revenues & Enhances Customer Loyalty
Aug 15, 2005

PHILADELPHIA--(BUSINESS WIRE)--Aug. 15, 2005--Now available online at, ACE Disaster Mortgage Protection(SM) (DMP(SM)) insurance offers producer/lender benefits including expanded distribution, increased revenue, enhanced customer loyalty, and streamlined application and approval. Reasonably priced, ACE Disaster Mortgage Protection(SM) insurance is designed to help provide a financial safety net for homeowners facing the daunting task of recovery in the wake of disaster. Unique among home-related insurance products, DMP helps protect the policyholder's financial investment by covering the mortgage commitment if the home sustains significant structural damage or is destroyed as a result of disaster. Unlike flood, earthquake or other event-specific insurance policies, DMP covers damages caused by any type of disaster, and provides an additional financial assist by reimbursing property insurance deductibles. 

According to Kimberle Kennedy, Vice President, ACE Select Markets, as consumer demand for the coverage continues to grow, more and more producers and mortgage lenders are offering DMP. Those that do, reports Ms. Kennedy, recognize its potential to bolster revenue streams, and helps them to cement long term customer relationships.

"DMP complements a wide range of consumer insurance products, including homeowners, flood, earthquake, and compatible product offerings. If a consumer is shopping for flood insurance, for example, and also owns a home or condo, he or she is a great prospect for DMP. Consumers are quick to recognize its value. Producers find it easy to convey the real and quantifiable protection that DMP provides, and the testimonials we receive from policyholders, including Floridians who endured last year's multiple hurricanes, prove that value over and over again," commented Ms. Kennedy.

Designed to provide coverage not typically addressed by standard homeowners policies, DMP's key benefits include covering mortgage obligations of home- or condo-owners whose dwellings are destroyed or are deemed uninhabitable for more than 48 hours as a result of disaster. DMP Plus(SM) policies also make emergency cash available as an option to the standard coverage for homeowners struggling with financial challenges like advance payments to contractors, transportation, food, lost wages, and replacing clothes, furniture, computers and countless other household items.

Consider adding DMP to your insurance product offerings. Key product points are outlined below. 1. The underwriting process for DMP insurance is uncomplicated; there are only three qualification questions. Most policies go into effect within 10 days. 2. In most states, condo owners as well as homeowners can purchase DMP insurance. 3. At a cost of less than two percent of the policyholder's monthly mortgage payment, DMP insurance coverage is surprisingly affordable. For example, a homeowner with a $1,000 monthly mortgage payment, including escrow for taxes and insurance, would pay as little as $12.50 per month. 4. DMP reimburses the homeowners deductible up to $500 up to twice a year for property losses due to a disaster. Many homeowner policies charge "double deductibles" in the event of more than one disaster. Homeowners should not ignore the potential for two or more sequential disasters. Four "named storms" struck Florida in 2004, and, throughout the United States, successive rainstorms have caused catastrophic flooding.

For more information on ACE Disaster Mortgage Protection Insurance, call ACE at 800-234-7354 or (Notes for media/journalists: If you would like to speak to a product expert, please call Carla Ferrara at 215-640-4744 or

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. This is an overview of the product. Review the Policy for all terms and conditions.

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 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, personal watercraft, 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 The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients.


ACE INA Communications 
Carla Ferrara, 215-640-4744