PHILADELPHIA –March 21, 2005 – ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, today announced the creation of the ACE Logistics Industry Practice. This specialized practice will focus on providing comprehensive insurance coverage and solutions to the logistics industry, targeting domestic and multinational logistics companies, direct air carriers, third-party logistics providers, and control and supply chain management companies.
"The logistics industry has undergone a dramatic transformation in the marketplace in the last decade, resulting in rapid growth and consolidation in supply chain and third-party logistics providers. The formation of the Logistics Industry Practice allows us to address the unique needs of this important market segment by providing a more efficient and coordinated delivery of ACE USA’s existing products and services to the logistics industry," said Richard Decker, Senior Vice President, ACE US International.
Stephen Connor, Vice President, ACE US International, has been named to lead this new practice. Based in Atlanta, Ga., Mr. Connor has more than 30 years of experience in the insurance industry, and has held senior leadership positions focusing on the ocean marine and transportation market segments with Royal & SunAlliance and Kemper Insurance Company. He previously worked for Lloyd's of London as well as serving as a Board Director and Marine Cargo Practice Leader for a major Lloyd's insurance brokerage organization. Mr. Connor joined ACE USA in March 2004.
Products and services currently available through the ACE Logistics Industry Practice include:
- Cargo/Shipper’s interest
- Domestic and foreign cargo transportation
- Errors & Omissions
- First-party warehousing
- General liability
- Motor truck/Contingent motor truck cargo legal liability
- Property
- Transportation liability
- Warehouse legal liability
# # #
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.