SINGAPORE--July 11, 2012--(BUSINESS WIRE)--ACE Insurance, part of the ACE Group of insurance and reinsurance companies, today announced the successful launch of a new insurance product in Malaysia and Indonesia. In both these countries, the ACE Home Guard combines home insurance with personal insurance coverage for the policy holder to give comprehensive protection.
As the name implies, the ACE Home Guard encompasses a protection plan that safeguards the insured’s home property and also provides protection in the event of personal injury or disability. The inclusion of coverage for accidental death and/or disability for policy holders differentiates the ACE Home Guard from the existing home insurance product variations in Malaysia and Indonesia. In addition, ACE Home Guard offers a broader range of coverage i.e. the policy holder can make a claim following physical damage to the property or when circumstances prevent the home owner from being able to live in their place of residence.
The ACE Home Guard is a viable solution for individuals who are not insured or who inadequately insure their personal possessions and/or place of residence. The product can be sold to anyone unlike the standard home insurance products for which purchase is restricted to the owner. In Malaysia and Indonesia where shared living is commonplace, this integrated protection is practical and relevant.
According to Marcello Nusiner, Vice President and A&H Underwriting Manager of Accident & Health, ACE Asia Pacific, “The ACE Home Guard product is innovative because it effectively blends the best of personal protection with coverage for personal property. As risks grow, our goal is to stay competitive by monitoring lifestyle and market trends so that we develop useful and affordable protection to meet the diverse risk mitigation needs of consumers.”
The ACE Insurance franchise in Asia Pacific comprises an extensive network of operations serving Australia, Hong Kong, Indonesia, Korea, Macau, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam. The franchise offers a diverse range of products, including its core Property & Casualty and Accident & Health lines, as well as its growing Small to Medium Enterprise and Personal Lines businesses. ACE Insurance is part of the ACE Group, one of the world’s largest multiline property and casualty insurers. Headed by ACE Limited (NYSE: ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 53 countries.
Visit www.acegroup.com for more details.
ACE Insurance, ACE Group of Companies and ACE Limited are registered trademarks of ACE Limited.