PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced that it has introduced its ACE Professional Risk Select suite of policies to help meet the growing professional liability insurance needs of small- to mid-size businesses and business professionals. Based in Philadelphia, the ACE Professional Risk Select unit is staffed by a dedicated underwriting team with particular expertise in the professional liability marketplace. The majority of the insurance products underwritten by the ACE Professional Risk Select team can be bound with a short-form application designed for small risks and include the following:
The ACE USA Professional Risk Select policies can offer limits up to $5 million with low self-insured retentions and low minimum premiums. Additionally, insurance coverage is offered on an admitted basis.
“Small- to mid-size businesses are unique, and so is their business risk. When it comes to professional liability exposures, structuring programs to the risk is essential, but it is just as important to offer a tailored blend of risk management solutions and options that can provide a better response to the needs of smaller businesses. Our customer-focused approach with ACE Professional Select offers access to highly-specialized underwriters and the ability to use online technology that offers ease of service and greater efficiencies,” said Paul Dietrich, Vice President, ACE Professional Risk.
Key Features of ACE Professional Risk Select Policy, including coverages available for:
Architect and Engineers for Small Firms: -- Risk qualifications: Design professionals with $5 million or less in gross annual billings - Limits available up to $5 million per claim/aggregate -- Product admitted in most states -- Optional coverages available: 1. Contractors Pollution Liability 2. Shared Claims Expense Endorsement, and 3. Annual Aggregate Deductible Endorsement Miscellaneous and Professional Liability: -- Risk qualifications: Professionals with $10 million or less in revenues - Limits available up to $5 million per claim/aggregate -- Product admitted in most states -- Preferred Classes: More than 150 professional liability classes, including: Real estate (property managers, agents/brokers, appraisers), title agents/abstractors, printers, staffing agencies, management consultants, travel agents, claim adjusters, and a broad range of management service providers including human resources, marketing, industry technical, third-party administrators, call and service centers, and receivable management. DigiTech Pro(SM) Digital Technology and Professional Liability: -- Risk qualifications: Firms with $15 million or less in revenues - Limits available up to $5 million per claim/aggregate -- Preferred Classes: More than 50 technology classes, including: Technical consultant and support (including CRM, ERP, Security, E-Commerce), Internet Service Providers (ISPs), Application Service Providers (ASPs), Website Design and Maintenance, Software Development and Installation, Retail E-Commerce and Value Added Reselling, Specialty Programming Education Legal and Employment Practices Liability: -- Risk qualifications: Educational institutions with enrollments of 7,500 students or less - Limits available up to $5 million per claim/aggregate -- Product admitted in most states -- Preferred Classes: K-12 public schools as well as private, independent and vocational/technical schools
Staffed by a team of innovative underwriters, ACE Professional Risk is the operating unit within ACE USA, which distributes management liability, professional liability and surety products through retail brokers throughout the U.S. and Canada. For more information about ACE Professional Risk and its range of products and services, please visit: www.aceprofessionalrisk.com or contact Paul Dietrich at (215) 640-4854. The above is only a summary; please see actual policies for terms and conditions.
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+ (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.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.