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| General Liability : ACE PowerBacker® |
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- Insures power price spikes contingent on an unplanned outage (as defined) of the generating unit.
- In the event that one - or more - of your covered generating units sustains an unplanned outage during a period of high market prices, you will recover the difference between the market price index and a specified insured price for every covered megawatt hour.
- There is no requirement for physical damage to the generating unit.
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- Minimum premium: $100,000
- No waiting period: loss measurement starts immediately
- Minimum deductibles may apply depending upon coverage sought
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- Limits: $10 mm
- Higher limits available, subject to reinsurance availability. We will cover up to 45 days of unplanned outage for each occurrence.
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- Power generators, including:
- Utilities
- Cooperatives
- Captives
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- We will consider coverage for all technologies with the exception of the very latest combustion turbine designs that are still considered prototypes.
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- Financial Strength: ACE USA consistently receives among the highest ratings for financial strength from the industry's principal rating agencies
- Admitted policy
- No requirement for physical damage, unlike typical business income coverage
- Multi year terms available
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| | The above is a product summary only. For current terms and conditions of coverage, please refer to the policy. Insurance provided by insurers within the ACE Group of Companies or its allied distribution associates. All products may not be available in all jurisdictions. ACE USA is the retail U.S.-based operating division of the ACE Group, headed by ACE Limited (NYSE: ACE). ACE USA, through its operating companies, is a leading provider of property, casualty, and accident and health insurance, as well as financial products and risk management services. The ACE Group provides insurance and reinsurance for a diverse group of clients around the world. Additional information can be found at www.aceusa.com. |
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© 2008 ACE
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