News Releases

PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced the launch of ACE Risk Management Commercial Close Out, a new product that, at the time of purchase, allows insureds (clients with retentions up to $250,000 for Workers Compensation and Automobile Liability), to budget the future premium necessary in order to close out their loss sensitive program. As a result, the benefit to the customer is the return of the associated collateral. This product offering is specifically designed for those customers who wish to participate in risk financing programs, but have limited capacity to support the accumulation of collateral that is typically associated with long tail risks, such as Workers Compensation.

Ken Riegler, Executive Vice President & Operating Officer, ACE Risk Management-Commercial Accounts, commented on the flexibility offered by this new product, “ACE is a leader in providing customized risk management solutions to risk managers and brokers and is focused on fulfilling the unique business needs of the commercial segment. This product particularly focuses on responding to the risk management challenges of an insured with limited risk management resources to dedicate to administration of risk financing programs. ACE Risk Management Commercial Close Out is a solution that allows customers to have more peace of mind in mitigating deductible loss exposures.”

Key benefits of this coverage include:¹

• Easier transition to loss sensitive structures with embedded program certainty.
• Reduces administration requirements of risk financing programs (billing, collateral and program adjustments).
• Fully disclosed terms of close-out, including the predetermined loss development factor and premium computation formula, along with exact close out date.
• Close out terms are contained within the program agreement executed at binding.

For more information, contact David Zelickman at (617) 737-8940 or David.Zelickman@ace-ina.com or contact your local ACE Risk Management office.

¹Product highlights are summaries only; please see actual policy for terms and conditions.

ACE Risk Management offers comprehensive risk management programs and services that are uniquely designed and customized to assist companies in any industry deal with the significant costs of financing and managing risk. To learn more about ACE Risk Management’s products and services, visitwww.aceriskmanagement.com

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.aceusa.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.