AUCKLAND, 15 September 2015 — ACE Group announced today the launch of a Marine Services Liability (MSL) policy that is tailored to the specific needs of marina operators and shipbuilders or repairers in New Zealand.
These businesses are often required to purchase two stand-alone insurance policies to protect them from their casualty risks of General Liability and Ship Repairers Liability. As a result, gaps in cover can occur between the marine and non-marine activities of the business.
The ACE MSL product will bridge this gap and provide businesses with robust protection from a range of liability exposures. This includes cover for contractors performing maintenance work, and also those involved in the manufacturing of marine vessels.
Coverage highlights under the MSL policy include:
All MSL policyholders can also benefit from ACE’s Marine and General Liability Risk Engineering services. Leveraging local and global expertise, the ACE Risk Engineers help organisations reduce or eliminate the likelihood and consequence of loss or injury through customised loss control and risk management programs.
“Instead of purchasing two policies to provide liability coverage for the marine and land-based activities of their operation, New Zealand business owners can now purchase ACE’s Marine Services Liability product. MSL is a simple and affordable policy that will provide businesses such as vessel builders, ship repairers, slipway operators, berthing, fuel and storage providers’ protection from a broad range of liability exposures” said Mark Downes, Casualty Manager and Construction Practice Group Leader for ACE in New Zealand.
ABOUT ACE
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.
ACE's operation in New Zealand (ACE Insurance Limited) offers corporate Property & Casualty, Group Personal Accident and corporate Travel Insurance products through brokers. ACE leverages global expertise and local acumen to tailor solutions to mitigate risks for clients ranging from large multinational companies to local corporates.
ACE Group is a registered trademark of ACE Limited.