ACE UK today announced the launch of a suite of multi-line products targeting medium to large sized businesses in four industry sectors. These sectors are: professional companies or partnerships with one or more overseas branches, retailers, hotel groups and machinery manufacturers.
The new products have been designed to offer a wide range of covers reflecting the specific needs and buying patterns of clients in these sectors. The focus on these new products forms part of the initiative to better align ACE’s service capabilities and underwriting expertise directly with the needs of brokers and clients in sectors where ACE has particular strength and experience.
ACE Retail is a comprehensive insurance product providing cover for traditional risks and also new and emerging exposures such as data and network security failure. It also aims to lift some of the pressure on retail management by addressing sector specific issues such as risk management and supply chain protection.
Focused on mid-corporate to larger sized hotels and hotel chains, the new ACE Hotel policy aims to protect clients by providing industry specific cover for claims including the cost of, for example, providing alternative accommodation for guests or the adverse effects of outbreaks of notifiable diseases.
ACE Machinery Manufacturer provides a comprehensive combined policy that can be adapted and designed to meet the specific needs of clients in this sector. In addition to offering property, BI, EL and PL sections, many industry specific covers such as financial loss and recall expenses have also been added to provide additional protection. Cover is also available for risks including breakdown, marine cargo and environmental liability.
ACE has also enhanced its cover for medium to large professional companies and partnerships that have one or more overseas branches. ACE Evolve Professional Offices combines comprehensive cover for a very wide range of property, liability and other emerging risks faced by professional businesses. The product also provides insurance-related information and guidance for the overseas locations the client operates in. Clients can also purchase cover extensions including global terrorism and network security.
Pat Drinan, Head of Corporate Risk, ACE UK & Ireland said: “These products are an important part of the drive to align ACE’s business with the needs of our brokers and their clients; affirming our position as a true market leader in the provision of wide-ranging cover for medium to large sized corporate clients.
“The launch of our new suite of multi-line products, accessed from ACE’s 11 UK & Ireland branch offices, enables brokers to more accurately meet the rapidly changing needs of their larger clients.”
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About ACE
ACE is well known for its experience and expertise in catering for medium to large clients worldwide. ACE in the UK & Ireland is structured into two core segments:
The Corporate Risk segment provides property, casualty, accident & health and other specialty insurance products. Target clients are broadly defined as those with turnovers of more than £5m and 50 plus staff with conventional insurance programme requirements.
The Major Risks segment provides property, casualty, accident & health and other specialty insurance products. Major Risks clients are broadly defined as companies with a turnover of greater than £500m and employing a full time global risk manager requiring non-conventional insurance programmes.
ACE UK & Ireland’s five regions are:
Ireland (Dublin and Belfast)
Scotland (Glasgow)
The North (Leeds, Manchester, Newcastle)
Midlands (Birmingham)
London and South East (London, Maidstone, Reading, Watford)
Part of the ACE Group, ACE European Group comprises the operations of ACE Europe, ACE Global Markets and ACE Tempest Re Group. ACE Europe provides a range of tailored Property and Casualty, Accident and Health and Personal Lines solutions for a diverse range of clients. ACE Global Markets (AGM) is ACE’s specialty international business, underwriting through ACE’s Lloyd’s Syndicate 2488 and ACE European Group Limited. Specialty lines include excess and surplus lines business, Marine, Aviation, Energy and Political Risk as well as Property, Financial Lines and Accident and Health. Additional information on ACE European Group can be found at www.aceeuropeangroup.com
Celebrating 25 years of insuring progress, the ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com