Press release from Business Wire
ACE International Advantage Expands Travel Risk Coverage to Renewable Energy Industry
Thursday, April 18, 2013
ACE International Advantage Expands Travel Risk Coverage to Renewable Energy Industry19:11 EDT Thursday, April 18, 2013
PHILADELPHIA (Business Wire) -- ACE Commercial Risk Services®, the U.S.-based small business insurance division of the ACE Group, today announced additional capability enhancements to its portal www.ACEAdvantage.NET, the fully automated Internet-based rating system of its ACE International Advantage® division, to include international trip/travel coverage for small- to-mid-sized U.S.-based renewable energy companies doing business overseas. The availability of this coverage and access to the ACEAdvantage.NET portal offers agents and brokers a streamlined process for automatic rating, quoting, binding, and issuing the ACE International Advantage Package Policy.
ACEAdvantage.NET offers a lower minimum premium for its trip/travel product offering, and the ability to customize coverages to meet the unique needs faced by renewable energy organizations with employees traveling the globe. This coverage is available for a broad range of renewable energy industries, including power generation and utility operators which include wind, solar and independent power producers, biofuel plants and component part original equipment manufacturers (OEMs).
“Given the current growth in the renewable energy industry, addressing renewable energy risks remains a priority. ACE is continuously looking for ways to assist this key industry with its increased coverage needs,” said Darren Small, Vice President, ACE USA Custom Casualty Energy. “Our goal in expanding the availability of this coverage is to help provide protection and mitigate international travel risks for U.S.-based renewable energy companies.”
Tim Benson, Senior Vice President, ACE Multinational Client Group added, “As employees for U.S. renewable energy companies travel globally to attend industry specific conventions, sell their products, research or invest in new technologies, visit manufacturing facilities, and meet with government officials and investors – their risks increase – from Product Liability to Employee Health and Safety. The ACEAdvantage.NET web-based platform offers U.S. agents and brokers a fast and efficient way to service the needs of their U.S. renewable energy clients doing business overseas.”
Key features of the ACEAdvantage.NET International Package Policy include:
Employers Responsibility with Executive Assistance Services
- Emergency Medical Evacuation/Repatriation
- Political Evacuation/Relocation
- Foreign Voluntary Compensation
- Contingent Employers Liability
- Contingent Auto Liability
- International AD&D with Employee Medical
- ACE's international claims management expertise and overseas network of services
The core coverage can be supplemented, based upon the client and broker's risk assessment and cost analysis, to include the following additional coverages:
- General Liability
- Enhanced Employee Protection including Kidnap & Extortion, Natural Disaster Evacuation, and Business Personal Property
Renewable energy companies with annual international sales of more than $10 Million will be directed to a specialized ACE International Advantage underwriter who can offer tailored coverage to the insured, including the ability to coordinate global programs through ACE's Global Network.
ACE's international casualty product suite offers insurance solutions for U.S.-based companies and organizations that travel or have operations outside the U.S. from simple package policies to complex multinational programs with sophisticated risk transfer options. For more information, please visit our website, or contact Tim Benson at firstname.lastname@example.org or (302) 476-6343.
ACE Renewable Energy, part of ACE USA,specializes in property and casualty insurance products for small, mid-sized and large energy companies, and understands the unique needs of renewable energy-related risks and can respond with tailored solutions, from alternative risk cash flow programs to comprehensive multi-line packages. For more information please visit our website or contact Darren Small at or (312) 775-7977.
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.
ACE Commercial Risk Services is an operation within the ACE Group that is dedicated to providing specialty insurance products that offer solutions for small business insurance needs in North America. ACE Commercial Risk Services offers its products through retail agents and brokers, wholesale brokers and wholesale producers, program agents and other alternative distribution models. Additional information can be found at www.acecrs.com .
ACE USA is the U.S.-based retail operating division of the ACE Group, and is rated A+ (Superior) by A.M. Best Company and AA- (Very 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.acegroup.com/us . 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
The ACE Group
Carla L. Ferrara, 212-827-4744