PHILADELPHIA--May 23, 2012--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operations of the ACE Group, today announced the launch of its enhanced international casualty coverage, ACE ATLAS CMPSM, which is specifically designed to provide coverage for U.S.-based multinational organizations with complex exposures in targeted industries, including construction, energy, manufacturing and business and professional services organizations. ACE Foreign Casualty, a division of ACE USA, uses controlled master programs (CMP) to provide a master policy for the insured’s difference in limits/difference in conditions coverage in conjunction with local admitted policy placements to ensure that gaps in coverage are minimized.
These enhanced coverages allow ACE USA to offer insurance programs to those growing industries facing challenging risks around the world. ACE also has the ability to coordinate locally admitted policies across the entire ACE global network – and through ACE WorldviewSM, a web-based information portal for risk managers and brokers with multinational insurance programs, clients can access this system for an up-to-date status of their entire global program.
“With the dramatic increase in international commerce, travel and contract work being performed overseas, ACE’s enhanced foreign casualty product offering and access to our global network can help multinational clients navigate the complexities of conducting business worldwide,” said Bryan Tedford, Senior Vice President, ACE Foreign Casualty. “Providing this centralized industry-specific program offers the client a single access point and lower cost by reducing the administrative expenses incurred when managing multiple policies worldwide. As a leader in providing innovative risk management solutions, we are pleased to assist our clients in the territories where they do business.”
The ACE ATLAS CMP Program provides a broad range of coverage benefits and program structures for U.S.-based multinationals. Specifically and subject to underwriting criteria, the program offers the following coverage:
Program structures include: guaranteed cost, deductibles, and self-insured retentions; captives and retros.
Key Features of ACE’s ATLAS CMP Program:
ACE’s international casualty product suite offers insurance solutions for U.S.-based companies and organizations that have operations or employees who travel outside the U.S. Offerings range from simple package policies to complex multinational programs with sophisticated risk transfer options. For more information about these products, including ACE ATLAS CMP Program, please visit our website or contact Bryan Tedford firstname.lastname@example.org or 646-675-4201.
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 policy that is issued contains the terms, conditions and limits of the contract.
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 a global leader in insurance and reinsurance serving a diverse group of clients. 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 50 countries. Additional information can be found at: www.acegroup.com.