Responding to Growing Risks Faced by Canadian Multinationals, ACE Broadens Global Primary Casualty Offering
March 18 2015 - 1:04PM
Business Wire
ACE Group (NYSE: ACE) today announced the strengthening of its
global primary casualty offering with an expanded service platform
designed to protect the multinational business activities of
Canadian companies. ACE Risk Management Global Casualty ushers in a
dedicated team of underwriting professionals and an enhanced suite
of insurance products to help Canadian multinationals navigate the
emerging risks, country-specific regulation, and foreign exposures
associated with expansion. This move means ACE can better service
large Canadian multinational companies, as well as smaller but
growing companies that may be interested in increasing their
operations both in North America and around the world.
Matt Merna, Division President of ACE Risk Management Global
Casualty said, “Canadian companies are looking for the best risk
management solutions, given their unique challenges, while they
conduct business in Canada as well as in other countries across the
globe. Our experience dealing with many of the largest companies
worldwide, provides us with a unique opportunity to provide
customized solutions for these clients.”
Andy Hollenberg, Country President for ACE in Canada said, “We
understand the unique needs of Canadian clients and are growing our
capabilities to better service them. The addition of ACE Risk
Management Global Casualty specialized products further enhances
our offerings in Canada, and together with our depth of experience,
appetite for risk, and global network, makes ACE a valued partner
for large Canadian clients.”
ACE Risk Management Global Casualty has assembled a team of
highly experienced professionals whose expertise in writing complex
programs helps clients effectively manage their risks. An enhanced
model provides a robust suite of programs delivered by a fully
aligned team of underwriting, claims, actuarial, legal, credit, and
other services.
Program structures include: High deductibles, fronts, captives,
self-insured retentions (SIRs), and the following guaranteed cost
options:
- Up to $5,000,000 primary general
liability and automobile policy limits
- Foreign Casualty
- Contingent Automobile Liability &
Physical Damage
- Global Medical and AD&D
- Global Kidnap & Extortion (up to
$200K limits)
- Foreign commercial property capacity up
to $5MM per location
- Foreign voluntary workers compensation
with state/province or country of hire benefits; employers
liability limits up to $5MM
As an example of these dynamic changes, ACE Risk Management
Global Casualty has introduced updated policy and endorsement
language in its Canadian General Liability policy. The new policy
language improves clarity and consistency within the form; provides
for consistent interpretation of coverage language, and makes it
easier to customize coverage and tailor the policies to each
client’s unique needs; all of which underscores ACE’s commitment to
providing high value and superior service to Canadian clients.
ACE Risk Management Global Casualty offers Canadian customers a
personalized approach to designing their insurance programs.
Leading the team is Charles Lee, Vice President, ACE Risk
Management Global Casualty, who has more than 20 years of industry
experience and expertise. Mr. Lee and his team will together meet
the evolving needs of Canadian companies by leveraging the strength
of the ACE global network. This worldwide market presence enables
ACE to issue or arrange for local policies in nearly 200 countries
around the world, and is supported by ACE’s service and technology
solutions, including ACE Worldview®.
ACE Worldview is an interactive portal that delivers domestic
and international policies and other documents electronically. This
portal also provides customized reporting tools for managing and
tracking program information. ACE Worldview is unique in the
industry and exclusive to ACE. To learn more about ACE Worldview,
please visit our website.
ACE in Canada operates as ACE INA Insurance and ACE INA Life
Insurance, subsidiaries of ACE Limited (NYSE: ACE). ACE provides
commercial property and casualty and life, accident and health
insurance products and services throughout Canada. For more
information about ACE and our products and services, please visit
www.acegroup.com/ca.
ACE Risk Management Global Casualty offers comprehensive risk
management programs and services that are uniquely designed and
customized to assist companies in any industry dealing with the
significant costs of financing and managing risks. To learn more
about the products and services of ACE Risk Management Global
Casualty, please visit our website.
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 GroupAmy Shillingford,
441-299-9365amy.shillingford@acegroup.com
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