LONDON--(BUSINESS WIRE)--ACE Europe (ACE) (NYSE:ACE) has today launched its Elite Pension Trustee Liability (PTL) product on the company’s e-commerce platform - ACE Online, making it the first insurer to offer brokers a full cycle online PTL solution. Brokers can now generate PTL quotations, place and renew cover, make adjustments and issue policy documentation at the touch of a button.
ACE Online PTL enables brokers to source specialized protection for individual trustees, pension schemes and sponsoring employers. In one simple process they can quote, bind and print policies online with minimal administration. Uniquely, the process does away with the traditional requirement for completion of a long application form.
In November 2007, ACE warned that trustees faced heightened risks as a result of the Pensions Act 2004 and that many are not adequately protected. Speaking about this issue, Emma Watkins, Pension Trustee Liability specialist and Product Manager at ACE, said: “Our research suggests that many small to medium sized companies with pension schemes do not have any specific pension insurance protection in place, with a significant number believing that they are protected through their Directors & Officers (D&O) cover; but this is not the case. ACE Online PTL can provide trustees and schemes with the protection they need at an affordable price. The system is very easy to use so brokers can quickly generate quotations for their clients alongside D&O quotes.”
ACE is also providing access to its experienced Financial Lines Underwriters and Business Development Managers who can give brokers full support when using ACE Online. Diane Davidson, UK & Ireland Regional D&O Manager, said: “Our aim is to work with UK regional broking partners to ensure that they are using the ACE Online service to its full potential, including realising the cross-selling opportunities it presents, whilst continuing to receive first class service support.”
PTL cover is the latest product ACE has added to its online portfolio as part of its strategy to make its specialist products more accessible to its brokers. Other products available via the ACEOnline platform include D&O, Environmental Impairment Liability, Excess Casualty and Marine Cargo.
Notes to editors:
ACE European Group has established branch offices in 19 countries across Europe, Freedom of Services permission to provide insurance services to clients in 30 European countries and affiliates in Egypt, Bahrain, Pakistan, Russia and South Africa.
Part of the ACE Group of Companies, ACE European Group comprises the operations of ACE Europe, ACE Global Markets and ACE Tempest Re Group. ACE Europe provides a range of tailored Property and Casualty, Accident and Health and Personal Lines solutions for a diverse range of clients. ACE Global Markets (AGM) is ACE’s specialty international business, underwriting through ACE’s Lloyd’s Syndicate 2488 and ACE European Group Limited. Specialty lines include excess and surplus lines business, Marine, Aviation, Energy and Political Risk as well as Property, Financial Lines and Accident and Health. Additional information on ACE European Group can be found at www.aceeuropeangroup.com.
The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the Standard & Poor’s 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com