Press release from Business Wire
ACE Expands Catastrophe Management Services for Environmental Risks; Provides Coverage to Manage Public Relations Following a Catastrophe
Wednesday, July 11, 2012
PHILADELPHIA (Business Wire) -- ACE USA, the U.S.-based retail operations of the ACE Group, today announced that it has expanded its environmental risk insurance products to add catastrophe management coverage. In addition to coverage for standard remediation services included in the off-the-shelf environmental policies, ACE now covers the costs of catastrophe management services to maintain and restore public confidence following an environmental catastrophe.
ACE USA's offerings are uniquely suited for companies in environmentally-intensive industries. In addition to the range of insurance coverages available, ACE offers access to specialized catastrophe readiness and response services through ESIS Catastrophe Services. Sharply focused on supporting customers in their efforts to establish effective and comprehensive catastrophe response plans, ESIS Catastrophe Services also serves a critical role in the wake of a disaster by quickly mobilizing appropriate resources for a streamlined response. When used in conjunction with ACE Environmental Risk's products, the result is a coordinated effort that can help preserve an organization's reputation and its bottom line.
“Negative media coverage can have a far-reaching impact on a company's operations,” said Steven Piatkowski, Vice President, ACE Environmental Risk. “ACE is committed to providing comprehensive coverage to our clients, and this coverage enables us to remain at the forefront of this emerging risk area. When combined with our close relationship with ESIS Catastrophe Services, ACE's industry-leading catastrophe management unit, our offering is at the forefront of the marketplace. The synergy between ACE's varied divisions enables clients to streamline their communications and processes, providing a focused approach when addressing such a specialized need.”
“When disaster strikes, proactively managing the intricacies of crisis communications can have a huge impact on an organization's ability to recover,” said Lori Brassell-Cicchini, Vice President, ESIS Catastrophe Services. “We specialize in helping clients quickly and effectively execute a highly-orchestrated response focused on delivering superior customer service and preserving the client's image and reputation. ACE's expanded coverage provides critical services in the immediate aftermath of a catastrophe.”
Key features of ACE's catastrophe management coverage for environmental risks may include:
- Coverage to retain responsive catastrophe management services
- Offers synergy for clients also working with ESIS Catastrophe Services, ESIS' industry leading catastrophe management services program
- Covers costs associated with securing the scene following a catastrophe management event, as well as affected third-party medical costs, funeral costs, psychological counseling costs, temporary living costs, and other necessary response costs
- Manages both the policy and public relations risk associated with an environmental catastrophe, as well as the costs for retaining a qualified public relations or crisis communications firm
- Covers travel costs for directors, officers and others incurred at the direction of catastrophe management services
- Catastrophe management-specific aggregate limit of liability up to $250,000
ACE Environmental Risk, an ACE USA business unit and part of the ACE Group, offers a full range of environmental liability solutions designed to minimize bottom-line impacts, and provide hands-on management for those liabilities. For more information about ACE Environmental Risk and its range of products and services, please visit our website. Organized in 1953, ESIS®, Inc. (ESIS) provides customized risk management services. ESIS is part of the ACE Group, which is rated A+ (Superior) by A.M. Best Company and AA- (Very Strong) by Standard & Poor's. For more information, please visit www.esis.com.
Insurance is provided by insurance companies within the ACE Group. All products may not be available in all jurisdictions. The product information above is a summary only. The insurance policy actually issued contains the terms and limits of the contract. ESIS provides catastrophe readiness and response services directly to customers on a fee-for-service basis. When provided in conjunction with catastrophe management coverage, ESIS services are claim benefits provided by the ACE insurance company underwriting the risk, subject to the terms and conditions of the insurance policy.
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 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.
ACE North America Communications
Carla Ferrara, 215-640-4744