PHILADELPHIA--(BUSINESS WIRE)--Adding a new dimension of security and risk management to its already comprehensive Multinational Travel Accident (MTA) Program, ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, extends its MTA coverages to include Political Evacuation Coverage and Kidnap & Extortion. The latest MTA program enhancements are designed to help multinational organizations protect their employees living and working overseas during times when political unrest and other events threaten their safety.
ACE USA's integrated Political Evacuation Support coverage delivers a full range of support through all four phases of a political evacuation -- warning, preparation, assembly and evacuation -- and, when political or military events escalate to a potential crisis point, covers the cost of securely withdrawing employees and transporting them to safety or returning them home. Designed to help corporate travel clients deal with the reality of global security risks, ACE USA's Kidnap & Extortion Package includes benefits for ransom money paid (as a result of kidnapping) and the loss of ransom or extortion monies (due to confiscation or seizure). In addition, the Kidnap & Extortion Package covers the cost for a designated security consultant to respond to kidnap & extortion incidents.
"We are pleased to offer our clients with multinational exposures even more ways to safeguard their employees and protect their bottom line. Multinationals and companies with employees traveling out of the country face a range of unique exposures that traditional Business Travel Accident (BTA) plans simply do not address, and the resulting coverage gaps can put employees at risk. Our MTA plan enables domestic and international exposures to be covered under one Controlled Master Program (CMP)," commented Frank D’Ancona, Vice President, ACE USA Accident & Health.
The ACE USA MTA program provides a broad range of coverage benefits and travel assistance services for those employees traveling outside their country of permanent residence or assignment on short-term business trips. Including its most recently added coverages, the ACE USA MTA program offers Political Evacuation Support; Kidnap & Extortion; AD&D emergency medical; emergency medical evacuation; and, repatriation of remains. Inconvenience benefits include: trip cancellation; trip interruption and loss of personal property. Coverage can be extended to include war risk exposures. Policy limits can be offered up to $5 million per life.
“The political situation in any country can go from stable to chaotic very quickly. Now, more than ever, companies that send their employees overseas must be diligent in monitoring the political environment, identifying risks and planning for contingencies. Even in less volatile climates, employees are likely to face very real security risks. The numbers of kidnap and extortion attempts worldwide is on the rise, and organizations who are not prepared to protect their employees can face potentially catastrophic consequences if a worst case scenario occurs,” said Jean McDermott-Lucey, Vice President, ACE Professional Risk.
Key features of ACE USA’s Multinational Travel Accident Coverage (MTA):*
The ACE USA Multinational Travel Accident Coverage product is underwritten by the ACE USA Accident & Health division. For more information or to submit an account, contact Frank D’Ancona at (302) 476-6335 orFrank.D’email@example.com or visit www.aceaccidentandhealth.com.
ACE USA Accident & Health, a division of ACE USA, 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 protect against the serious financial consequences of a sudden injury or illness. To learn more about ACE USA Accident & Health’s products and services, please visit www.ace-ina.com.
ACE Professional Risk, a division of ACE USA, is staffed by a specialized team of innovative underwriters and provides management liability, professional liability, kidnap and ransom and surety products throughout the U.S. For more information about ACE Professional Risk and its range of products and services, please visitwww.aceprofessionalrisk.com.
*Product highlights are summaries only; please see actual policy for terms and conditions. Products may not be available in all countries.
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.