PHILADELPHIA –June 28, 2006 – ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced that it has created a new underwriting unit dedicated to providing casualty program solutions to risks in the energy industry. The ACE USA Custom Casualty Energy unit, part of ACE Casualty Risk, will provide a flexible array of products including primary general liability, primary commercial automobile, lead umbrella and pollution liability programs for a cross section of energy-related risks.
The ACE USA Custom Casualty Energy unit will target the following classes of business: oil and gas lease operators, non-operating working interests, well-servicing contractors, drilling contractors, pipeline gathering systems, and utilities and power generation, independent power producers, alternative energy producers, cogeneration, electric-gas and water utilities, regulated and unregulated utilities, public and municipal utilities and mining companies.
“In the changing energy marketplace, ACE USA offers financial strength, stable capacity and specialized insurance solutions designed to offer effective risk management services to our customers,” said Mitchell Schmidt, Senior Vice President, ACE Custom Casualty. “ACE has developed specialized teams of energy underwriters, claims and risk control professionals who are committed to providing synchronized and customized products and services to our clients in the energy industry.”
Product Highlights:
Key features of ACE USA’s Custom Casualty Energy programs include the following:
- Primary General Liability -
- Coverage is provided on a guaranteed cost, deductible or excess of a self-insured retention basis.
- Limits available up to $2M occurrence / $4M aggregate
- Time element pollution coverage is available, including sudden and accidental BI/PD with remediation expense coverage.
- Primary Commercial Automobile -
- Coverage written on a guaranteed cost basis
- Coverage is provided on an admitted basis via the ISO 2001 policy form
- Trucking and transportation only risks are not eligible
- Lead Umbrella Liability -
- Up to $25M in capacity available
- Follow form Time Element pollution coverage available
- Schedule of underlying insurance can include Employers Liability
For more information about ACE USA’s Custom Casualty Energy products and services, please contact John Moore (National Custom Casualty Energy Manager) at (972) 465-7919 or john.moore@ace-ina.com. Account submissions can be sent to ACEcustomcasualtyenergy@ace-ina.com. The above is only a summary; please see the actual policies for terms and conditions. To review additional features and check submission requirements, please visit: www.ace-ina.com.
ACE Casualty Risk specializes in lead umbrella and excess liability, custom primary casualty, public entity and environmental liability insurance products, which are primarily distributed through the retail brokerage community to the commercial market.
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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+ (Superior) 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.