News Releases

LONDON--(BUSINESS WIRE)--ACE Group today announced the launch of ACE Elite Not For Profit, a directors & officers (D&O) insurance cover for charities and not-for-profit organisations based in the UK & Ireland.

With proposed amendments to the Charities Bill aimed at tackling serious abuse of charities and increased scrutiny over charities’ fundraising and management, charity trustees and directors are becoming increasingly vulnerable to claims.

Providing comprehensive cover that is fully compliant with the UK Insurance Act 2015, ACE Elite Not For Profit features the following benefits:

• Separate limits of indemnity for individual trustees, the organisation and employment practice liability
• Policy limit pre-investigation and investigation cover for individuals
• Cover for:
  • insured person liability (up to a maximum of £10m limit)
  • organisational legal liability (up to a maximum of £5m limit)
  • organisation employment practices liability (up to a maximum of £5m limit)
  • employee dishonesty (£50k limit)
  • kidnap & ransom (£25k limit).

In addition, the cover provides access to legal advice from law firm Gateley Plc via a dedicated helpline, offering independent and confidential guidance from specialist solicitors on employment practice and D&O matters.

Simon Million, Directors & Officers Manager for ACE in the UK & Ireland, said:

“As we have seen in the news recently, charities and not for profit organisations are particularly vulnerable to claims made against their own management, which can have devastating effects on their reputation and threaten their existence. With ACE Elite Not For Profit, we give charitable organisations the peace of mind that they will be adequately covered should the worst happen, ultimately protecting the people and causes they work hard to support.”

ENDS

About ACE Group

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 the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.

ACE UK & Ireland’s five regions are:

∙ Ireland (Dublin and Belfast) ∙ Scotland (Glasgow, Aberdeen) ∙ The North (Leeds, Manchester, Newcastle) ∙ Midlands (Birmingham) ∙ London and South East (London, Maidstone, Reading)

Additional information can be found at: www.acegroup.com/uk

ACE European Group Limited registered in England &Wales number 1112892 with registered office at 100 Leadenhall Street, London EC3A 3BP, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Contact:

ACE
Celine Lachevre
0207 173 7489
Celine.lachevre@acegroup.com