PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced the launch of ACE PaCSM and ACE ECO PaCSM, two new products that offer specialized coverage. The ACE PaC product combines general liability and pollution liability into a single policy form, and can be offered with primary commercial automobile and follow form umbrella coverage for a wide cross section of industries and classes of business with environmental exposures. The ACE ECO PaC product, which is designed for contractor-related/consulting services with environmental exposures, combines general liability, contractors pollution liability and optional professional liability in a single policy form -- and can be offered with primary commercial automobile coverage. These new products allow customers to access ACE USA’s innovative products and service, with the ease of using a single form and working with a single underwriter that holds authority for all available coverages.
ACE PaC is available for U.S. companies of all revenue sizes, including: product manufacturers of all types, from light to heavy industrial. ACE ECO PaC is targeted to clients with a pollution-focused critical area of risk: environmental contractors, environmental consultants, environmental engineers, and environmental laboratory analysis and testing services.
“As a leader in providing specialized insurance solutions to meet the evolving needs of our clients, we are pleased to offer for the first time these two combined products for pollution and casualty liability. They will allow our clients to have greater efficiency and flexibility in coordinating broad streamlined coverage for critical areas of risk,” said Mitchell Schmidt, Senior Vice President, ACE Custom Casualty. “These new products are offered through the joint efforts of two underwriting units in ACE Casualty Risk – ACE Custom Casualty and ACE Environmental Risk – to better leverage the underwriting and service capabilities across the division with a single underwriting platform and authority.”
“In the changing marketplace, providing a single point of access to multi-lines of coverage through a centralized underwriting team, dedicated claims and risk control services and enhanced limits for pollution and casualty coverage, allows us to offer our clients synchronized and customized products and services,” said William P. Hazelton, Senior Vice President, ACE Environment Risk.
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The ACE USA ACE PaCSM product offers:* |
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-- Primary General Liability & Pollution Liability: |
| -- ACE developed single combined pollution liability and general liability policy form (initially offered on a non-admitted basis only) |
| -- Limits available up to $1M occurrence / $2M aggregate with higher limits available upon request |
| -- General Liability and Pollution Liability coverages are available on an occurrence- and claims-made basis, respectively |
| -- Policies can be written on a first dollar/guaranteed cost basis or by using a deductible or self-insured retention |
| -- Pollution liability coverage extensions include: premises pollution; transportation and disposal site pollution; products pollution; sudden and accidental pollution; pollution discovery cleanup |
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-- Primary Commercial Automobile: |
| -- Coverage written on an admitted basis via use of ISO policy form |
| -- Limits available up to $1M combined single limit. |
| -- Liability and physical damage coverage available |
| -- Hired and non-owned coverage only available |
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-- Lead Umbrella Liability- |
| -- Follow form coverage for pollution and general liability, primary automobile |
| -- Limits available up to $25M occurrence / $25M aggregate |
| -- Catastrophe management coverage extension |
| -- Schedule of underlying coverage can include employers liability coverage provided by a non-ACE policy, subject to a minimum carrier financial rating of A- by A.M. Best |
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The ACE USA ACE ECO PaCSM product offers:* |
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-- Primary General Liability, Pollution Liability and Professional Liability: |
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-- ACE developed single combined pollution liability, general liability and professional liability policy form (initially offered on a non-admitted basis only) |
| -- Limits available up to $1M occurrence / $2M aggregate with higher limits available upon request |
| -- General liability and pollution liability coverage available on an occurrence basis. |
| -- Policies written using small deductibles |
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-- Primary Commercial Automobile: |
| -- Coverage written on an admitted basis via use of ISO policy form |
| -- Limits available up to $1M combined single limit. |
| -- Liability and physical damage coverage available |
| -- Hired and non-owned coverage only available |
ACE Casualty Risk, a division of ACE USA, specializes in lead umbrella and excess liability, custom primary casualty, construction, environmental liability, public entity, and middle market workers compensation insurance products and services, which are primarily distributed through the retail brokerage community to the commercial market. *Product highlights are summaries only; please see actual policy for terms and conditions. To review additional product features and check submission requirements, or for more information about ACE Casualty Risk and its range of products and services, please visit www.aceusa.com. For more information, please contact Mitchell Schmidt at (215) 640-1816 or Mitchell.Schmidt@ace-ina.com; William P. Hazelton at (646) 458-5926 orWilliam.hazelton@ace-ina.com; or Ted Cotton at (973) 775-7596 or Ted.Cotton@ace-ina.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.
Contact:
ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@ace-ina.com