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TheStreet Open House

ACE Offers Borderless International Pollution Liability Coverage For U.S.-based Multinational Companies

Stocks in this article: ACE

ACE USA, the U.S.-based retail operations of the ACE Group, today announced the introduction of the Foreign Casualty Pollution Liability Coverage Endorsement. This new endorsement provides a limited pollution coverage extension in conjunction with ACE ATLAS CMP SM, ACE’s U.S. Controlled Master Program (CMP) policy, which is designed to provide coverage for U.S.-based multinational organizations with complex exposures. The expanded coverage offers borderless international pollution liability protection for certain gradual as well as sudden and accidental first and third-party environmental liabilities.

ACE ATLAS CMP is part of the ACE USA International Casualty product suite for U.S.-based, mid-sized to large multinational companies that have operations or employees who travel outside the U.S. The product offerings range from guaranteed cost package policies to complex multinational programs with sophisticated risk transfer options. As part of the product suite, ACE also has the ability to coordinate locally admitted policies across the entire ACE global network through ACE WorldviewSM, a web-based information portal for risk managers and brokers with multinational insurance programs that provides an up-to-date status of their entire global program.

“ACE continuously looks for ways to assist multinational companies with their growing coverage needs,” said Bryan Tedford, Senior Vice President, ACE Foreign Casualty. “The addition of this environmentally-focused endorsement further demonstrates ACE’s commitment to providing insurance and risk management solutions for our U.S.-based, mid-sized and large multinational clients that do business globally.”

Jon Peeples, Vice President, ACE Environmental Risk added, “Our goal in creating this endorsement is to help multinational businesses mitigate the risks associated with ongoing environmental exposures. This new endorsement allows ACE to provide customized, innovative risk management solutions to address the growing complex environmental risks and exposures multinational risk managers may face throughout their day-to-day operations.”

Key features of the Foreign Casualty Pollution Liability coverage endorsement include:

  • Dedicated Limit of Liability - $1M per / $1M aggregate
  • First and third party coverages for new pollution conditions on a gradual basis, including:
    • Bodily injury and property damage to the personal property of a third party on, at, or under a covered location
    • Bodily injury, property damage, and remediation costs arising out of pollution conditions migrating from a covered location
    • Damages and claim expenses resulting from a government action arising out of a pollution condition on, at, under, or migrating from a covered location
  • International coverage territory
  • Dedicated environmental claims specialists
  • Backed by the ACE Group’s financial strength and excellent reputation

ACE Foreign Casualty and ACE Environmental Risk are both divisions of ACE USA, and part of the ACE Group. ACE Environmental Risk offers a full range of environmental liability solutions designed to minimize bottom-line impacts, and provides hands-on management for those liabilities. For more information about ACE Environmental Risk and its range of products and services, please visit our website. For more information about ACE Foreign Casualty, please visit our website.

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.

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