New Casualty Product Helps Mid-size Companies Meet Risk Financing Challenges
PHILADELPHIA - July 12, 2004 - ACE Risk Management (ARM), a unit of ACE USA-the U.S.-based retail operating division of The ACE Group of Companies-today announced an expansion of its product offerings targeted toward mid-sized companies in the casualty risk financing marketplace through the establishment of specialized teams in each of its branch offices across the U.S. These dedicated teams will assist companies in the large corporate risk segment - those with revenues between $100 million and $700 million - in managing their risk by focusing on creating individualized risk management programs.
"Now more than ever, companies are taking a proactive approach to managing and addressing their risk financing challenges," said William Curcio, President of ACE Risk Management. "This dedicated unit is backed by the financial strength of The ACE Group of Companies and staffed by a team of sophisticated insurance professionals with the expertise and acumen in applying the proven financial benefits of risk management solutions to this broad market segment."
Coverage is available with retained limits of $250,000 for Workers Compensation. Lower retentions or guaranteed cost will be available for Automobile and General Liability coverages. The unit targets companies with consistent strong financial performance, loss control/safety programs in place and loss picks of up to $3.5 million. Claims handling and loss control services will be provided though ESIS, a separate division of ACE USA.
The target industry groups are: Manufacturing, Retail, Wholesale, Hotels, Restaurants, Healthcare and Financial Services.
ACE Risk Management offers comprehensive risk management programs and services, which are uniquely designed and customized to assist companies in any industry deal with the significant costs of financing and managing risk. To learn more about ACE Risk Management's products and services, visit www.aceriskmanagement.com
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ACE USA is the U.S.-based retail) operating division of The ACE Group of Companies, headed by ACE Limited (NYSE: ACE), and is rated A (Excellent) by A.M. Best Company and A+ (Strong) by Standard & Poor's. 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.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.