The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

ACE Canada® Launches New Professional Risk Product to Address Challenges Faced by Design Professionals

Tuesday, June 19, 2012

ACE Canada® Launches New Professional Risk Product to Address Challenges Faced by Design Professionals14:46 EDT Tuesday, June 19, 2012TORONTO, June 19, 2012 /CNW/ - ACE Canada, the Canadian-based operating division of the ACE Group, today announced the launch of ACE Advantage® Architectsand EngineersSM professional liability insurance.  This new product provides domestic and international coverage against the numerous perils faced by design professionals including, professional negligence, pollution incidents, and personal injury.The challenges faced by today's design professional have proliferated -- broadening contractual requirements, increased emphasis on sustainability, new developments in design technologies and heightened client expectations are but a few difficulties faced by professionals practicing in this industry.  In addition to these challenges, any ensuing litigation can threaten a design professional's financial stability and carefully cultivated reputation."Canadian design professionals are increasingly called to conduct business in emerging economies," said Michael Trendler, Vice President, ACE Professional Risk.  "ACE Advantage Architects and Engineers professional liability policy provides global coverage supported by ACE's worldwide network of offices located in all principal markets."ACE AdvantageArchitectsand Engineers Professional Liability Coverage Highlights:*Complimentary pre-claims assistanceBroad professional services definitionBlanket additional insured status for all clients of named insured under contractor's pollution liabilityInnocent insured's coverageJoint venture coveragePredecessor firm coverageAutomatic subsidiary coverage up to 90 daysPunitive damages with most favorable venueClaims mediation credit up to $25,000Supplemental coverage for insured expense reimbursement $300 per/daySpecific project excess limitsWorldwide territoryTo learn more about ACE Canada's Professional Risk portfolio, please contact Michael Trendler at (416) 594-3073 or michael.trendler@acegroup.com or visit www.ace-ina-canada.com.*Product highlights are summaries only; please see actual policy for terms, conditions and exclusions. Product remains subject to ACE Professional Risk's underwriting criteria.ACE Canada® refers to ACE INA Insurance and ACE INA Life Insurance, subsidiaries of the ACE Group, and is rated AA- (Very Strong) by Standard & Poor's and A+ (Stable) by A.M. Best Company.  ACE Canada, through its underwriting companies, provides insurance products and services throughout Canada.  Additional information on ACE Canada and its products and services can be found at www.ace-ina-canada.com.  The ACE Group is one of the world's largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.  Additional information can be found at: www.acegroup.com.For further information: Media Contact:  Lynn Woodburn ACE Canada Communications 416.594.3032 lynn.woodburn@acegroup.com