ACE Introduces Broader Coverage to Protect Against Operational Environmental Risks
March 17 2015 - 6:23PM
Business Wire
- Streamlined Premises Pollution
Liability Policy Includes: Built-in Coverage for First-Party
Business Interruption, Catastrophe Management, Emergency Response
Costs and Access to ACE ALERTSM
ACE Group today announced the enhancement of its Premises
Pollution Liability (PPL) and Premises Pollution Liability
Portfolio (PPL Port) Insurance policies to provide additional
coverages for growing environmental day-to-day operational
exposures faced by both domestic and multinational businesses.
Additionally, the enhanced PPL and PPL Port coverages have been
redesigned to accommodate industry-specific endorsements that
provide specific coverage for Healthcare, Public and Educational
Entities and U.S. Multinational businesses to address a variety of
residential, commercial, retail and industrial risks. Each new
policy will receive access to ACE ALERTSM (ACE Logistical
Environmental Response Technology) -- ACE’s complimentary program
that offers 24/7 immediate support for environmental releases of
hazardous materials and other regulated substances.
The ACE USA Environmental Risk Premises Pollution Liability
policies serve stakeholders in residential, commercial, retail and
industrial facilities. Insurance coverage is provided with limits
up to $50 million and with a minimum premium of $10,000.
Key features of the base PPL policy include:
- Coverage for identified sites within
the United States (coverage for international jurisdictions is
available by endorsement)
- Third-party liability coverage for
Bodily Injury and Property Damage, including Natural Resource
Damages
- Remediation expenses covered for both
on-site releases and off-site migration
Key program enhancements of the base PPL policy include:
- Coverage for emergency response costs,
including easy access to report emergencies via ACE ALERTSM
- Indoor Environmental Conditions
coverage, which includes coverage for fungi or legionella
- First-party Business Interruption
coverage arising from Pollution Conditions or Indoor Environmental
Conditions
- Catastrophe Management Costs coverage
arising from Pollution Conditions or Indoor Environmental
Conditions
- Pollution Liability coverage arising
from transportation of materials, goods, products or wastes
- Pollution liability coverage arising
from an Insured’s disposal of waste at non-owned disposal
sites
“As environmental exposures continue to challenge everyday
business operations, we recognized the need to provide enhanced
coverage to help protect against a wider range of potential risks
such as catastrophic events, emergency response incidents, along
with pollution liability resulting from transportation of materials
and indoor environmental contaminants,” said Craig Richardson,
Senior Vice President, ACE Environmental Risk. “By consolidating
our coverages into two products and offering industry-specific
endorsements, ACE Environmental Risk can now provide clients with a
better ease of understanding policy terms while addressing key
industry-specific exposures quicker and more efficiently.”
To read more detail about the coverage enhancements, including
conditions, click here. Insurance is provided by insurance
companies within ACE Group. All products may not be available in
all jurisdictions. The product information above is a summary only.
The insurance policy actually issued contains the terms and limits
of the contract.
ACE ALERTSM is offered through Spill Center, a North American
leader in environmental regulatory reporting and spill support that
draws from a database of more than 3,500 environmental cleanup
contractors throughout North America who are experienced and
equipped to react to particular kinds of spills. Reporting a spill
using ACE ALERTSM services offered through Spill Center is not an
indication that coverage is available under your policy. Any
communications in connection with your use of ACE ALERTSM services
offered through Spill Center are not intended to alter, amend or
provide interpretive commentary on any insurance policy contracts.
Spill Center is not a subsidiary or affiliate of the ACE Group. ACE
Group disclaims all liability, loss, damages and other costs that
may arise out of your use of or reliance upon any spill reporting
services, other services, communications and representations or
warranties made by Spill Center or its affiliates.
ACE Environmental Risk, is a division of ACE USA, and part of
the ACE Group. ACE Environmental Risk offers a full range of
environmental liability solutions designed to minimize bottom-line
impacts, and provide hands-on management for those liabilities. For
more information about ACE Environmental Risk and its range of
products and services, please visit our website.
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.acegroup.com/us. Product highlights are summaries only; please
see the actual policy for terms and conditions. Product offerings
may vary by ACE location.
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 ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index. Additional
information can be found at www.acegroup.com, or follow ACE on
Twitter, https://twitter.com/ACEGroupNA.
ACE GroupCarla Ferrara,
215-640-4744carla.ferrara@acegroup.com
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