This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ACE Expands Critical Catastrophe Capacity In North America

The ACE Group today announced an increase in critical catastrophe limits to $30 million across all its North American retail and wholesale broker-distributed commercial property lines of business. This capacity will be offered through ACE’s extensive network of property businesses, which includes customized fronting and captive solutions, ACE’s Specialty Catastrophe Unit, a full range of innovative wholesale products, and comprehensive inland marine insurance services. The benefits of this broad wholesale and retail offering are amplified by ACE’s history and stability within the property marketplace, proven claims expertise, and dedicated engineering services.

“ACE has a long history in the property business delivering sophisticated risk transfer and multinational fronting capabilities with proven claims performance. We are pleased to offer more meaningful property capacity to our distribution partners and clients. This added capacity, coupled with our domestic and international infrastructure and our ability to offer a deep suite of additional products, ensures ACE will continue to be a valued partner to our brokers and clients,” said John Lupica, Chairman, Insurance – North America. “Since consolidating the structure of our property businesses in 2009, we have been able to distribute capacity where our clients need it most. With this increase, clients will further benefit from ACE’s ability to coordinate capacity across our retail and excess & surplus (E&S) lines businesses in North America.”

“We’re excited to offer this expanded capacity in response to our customers’ needs,” said Paul McNamee, Division President, ACE Property and Specialty Lines, North America. “This offering emphasizes ACE’s commitment to respond to our clients where they need us most, and to supplement the value we bring to their multinational and captive fronting, engineering and traditional capacity needs.”

ACE is one of the nation’s leading property insurers, providing comprehensive solutions that are customized to address the broad range of risk management issues facing businesses today. The increase in critical catastrophe limits is available to all U.S. and Canada- based wholesale and retail property and inland marine units:

  • The Commercial Property unit focuses on the risk transfer needs of domestic and multinational clients nationwide. Through nine regional offices across the United States, this group provides significant risk and catastrophe capacity to a broad range of clients in both industry and scale. This unit focuses on the distribution of core property products through retail distribution partners across the country.
  • ACE’s Specialty Catastrophe unit focuses on solutions for clients where traditional property insurance may not match their unique needs or where deductible levels have exceeded the client’s appetite for risk, often brought about through significant losses or changes in industry models. Using innovative design to maximize catastrophe protection and minimize the impact of market cycles for customers, products are developed with a client focus. These products range from flood reinstatement protection to named storm deductible buy downs, multi-year arrangements, and parametric triggered coverage for concentrated catastrophe exposure.
  • The Complex Multinational Property unit provides specialized, customized fronting and captive solutions to large multinational customers and offers an experienced team of professionals with multinational expertise, superior technical program design and competitive terms. ACE’s secure, web-based Worldview SM client portal is used to implement service, and manage multinational programs across a global network of owned offices in 54 countries and partner companies in 126 countries.
  • ACE Westchester provides a full range of innovative wholesale products, including layered, excess and primary coverage programs that are generally unavailable in the standard market. These include excess, surplus and specialty property products, with underwriting available for both catastrophe and non-catastrophe placements.
  • ACE is a leading provider of both retail and wholesale Inland Marine insurance solutions, offering significant capacity, underwriting and loss control expertise for the specialized needs of contractors, developers, equipment fleets, infrastructure owners, trucking, warehouse operations, communications, museums and corporate art collections.

ACE’s North America Property & Specialty is comprised of ACE’s property-related products and services across the company’s North American franchises: ACE USA, ACE Canada and ACE Westchester. ACE Property and Specialty Lines Division, part of North America Property, offers comprehensive management solutions for the property, marine, inland marine, energy and aviation insurance needs of U.S.-based companies, ranging from mid-size domestic to large multinational, as well as provide customized fee-for-service engineering consulting for long-term client loss control solutions. For more information about our range of products and services, please visit our website.

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 .



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,079.57 -42.44 -0.25%
S&P 500 1,996.74 -3.38 -0.17%
NASDAQ 4,557.6950 -11.9260 -0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs