ACE Doubles Terrorism, Political Violence and War Insurance Capacity
July 09 2015 - 3:00AM
Business Wire
ACE Group today announced that it will offer increased insurance
capacity of up to US$100m/ €100m (previously US$50m/ €50m) for
terrorism, political violence and war risks as it further builds
its market-leading proposition in response to evolving threats and
increased demand from multinational clients.
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Piers Gregory, Terrorism and Political
Violence Underwriting Manager, ACE Overseas General (Photo:
Business Wire)
The announcement follows new research by ACE which shows that
68% of risk managers across Europe, the Middle East and Africa
believe that terrorism is a growing concern for business, and 75%
agree that recent global events are causing them to review their
security and travel policies.1
The increased capacity will be available to brokers and their
clients in the UK and Continental Europe and is designed to meet
the needs of large, multinational businesses with growing global
exposures.
Since 2008, ACE has steadily invested in building its terrorism
and political violence insurance capabilities and provides brokers
and clients with comprehensive cover for the full spectrum of
perils. In addition to standalone cover, the company also offers an
integrated proposition specifically designed to cover the gaps
between traditional property and business interruption, terrorism
and political violence insurance policies2.
Piers Gregory, Terrorism and Political Violence Underwriting
Manager, ACE Overseas General, said:
“Brokers and clients are looking for certainty to confront the
challenges of an increasingly volatile global environment. They
want to ensure that their assets and people have appropriate
terrorism and political violence cover wherever they are located
and however the threat manifests itself – be it terrorism, civil
disturbance, riot, political violence or even full-blown war.”
“The increase in capacity to US$100m demonstrates our commitment
to responding to growing client demand for certainty and
comprehensive cover across the full range of perils. As the needs
of our clients become increasingly international, ACE is also one
of the few insurers with the multinational capability to help them
design the compliant global insurance programmes that they need in
an ever more globalised operating environment.”
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, Watford)
Additional information can be found
at: www.acegroup.com/uk
1 ACE Emerging Risks Barometer, July 2015
2 This is known as ACE Shield in the UK
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version on businesswire.com: http://www.businesswire.com/news/home/20150709005015/en/
ACE GroupCeline LachevreMarketing Manager (PR & Events)020
7173 7489Celine.lachevre@acegroup.com
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