News Releases

PHILADELPHIA--(BUSINESS WIRE)--The ACE Group today announced the introduction of an enhanced easy-to-use ACE TankSafe^® program that streamlines environmental coverage for owners and operators of aboveground and underground storage tanks.

Companies and organizations that own or operate storage tanks of all sizes in diverse industries face significant pollution risks and often must satisfy federal and/or state requirements to demonstrate financial responsibility. These industries include healthcare facilities, municipalities, educational institutions, auto dealerships, gas stations, and convenience stores, as well as airports, marinas, commercial and industrial facilities, and manufacturing plants.

The enhanced ACE TankSafe program leads the insurance industry by combining aboveground and underground coverage in a single policy, provided on an admitted basis in forty-eight (48) jurisdictions within the United States. This coverage is available to tank owners, operators and their brokers through an innovative online process that simplifies the steps required for obtaining coverage, from submission through policy and financial responsibility certificate issuance.

“Storage tank owners and operators, from small businesses to the largest operations, face growing public awareness and broader environmental regulations. Our enhanced ACE TankSafe program addresses their need to manage their aboveground and underground storage tank coverage with an integrated solution,” said William P. Hazelton, Executive Vice President, ACE Environmental Risk. “We are pleased to continue our commitment to serve the unique environmental needs of this community with a simplified, affordable and readily available solution.”

“The single combined ACE TankSafe policy is a cost-effective response. It builds on the ACE TankSafe offering we launched in 2003 and is available through a proprietary online platform. With a minimum premium as low as $350 and limits up to $5 million aggregate, ACE TankSafe is designed to address the needs of every aboveground and underground storage tank operation,” said Stela T. Flanagan, Assistant Vice President, Environmental, ACE Commercial Risk Services.

Key Features of the ACE TankSafe program include:

• Coverage for third party bodily injury and property damage claims resulting from storage tank incidents that involve scheduled storage tanks
• Coverage for corrective action costs resulting from storage tank incidents that involve scheduled storage tanks
• Available on an admitted basis in forty-eight (48) jurisdictions
• Instant online certificate issuance that satisfies federal and/or state requirements for storage tank financial responsibility
• Electronic account management
• Experienced underwriters for large, unique storage tank risks, or storage tanks installed prior to 1975 that require tailored solutions
• Dedicated claims specialists
• Customized storage tank Compliance and Program Management , available through ESIS Health, Safety and Environmental Services, including site closure, remedial design and implementation and Spill Prevention Control and Countermeasures (SPCC) Plans

To learn more about the ACE TankSafe program, and other ACE Environmental Risk products and services, please visit our website. To learn more about ACE Commercial Risk Services and their offerings tailored to the small business market, including ACE TankSafe, please visit our website. To learn more about obtaining a quote, please access the ACE TankSafe online platform.

ACE Environmental Risk, an ACE USA business unit and part of the ACE Group, offers a full range of environmental liability solutions designed to minimize bottom-line impacts, and provide hands-on management for those liabilities. ACE Commercial Risk Services is an operation within the ACE Group that is dedicated to providing specialty insurance products that offer solutions for small business insurance needs in North America. ESIS® Inc. (‘ESIS’) is part of the ACE Group, providing claims and risk management services to a wide variety of commercial clients. Insurance is provided by insurers within the ACE Group.

The product information above is a summary only. The insurance policy actually issued contains the terms and conditions of the contract. All products may not be available in all states. Surplus lines insurance sold only through licensed surplus lines producers. ESIS risk control services may be sold directly to ESIS’s clients, or part of insurance underwriting. Risk control activities conducted on behalf of the insurer are not intended as a direct benefit or service to ACE insureds.

The ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the S&P 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.acegroup.com.