ACE Strengthens Casualty Offering for Multinational Activities of Canada Firms

ACE Group says it is strengthening its global primary casualty offering with an expanded service platform designed to protect the multinational business activities of Canadian companies.

ACE Risk Management Global Casualty is providing a dedicated team of underwriting professionals and an enhanced suite of insurance products to help Canadian multinationals navigate the emerging risks, country-specific regulation, and foreign exposures associated with expansion.

“This move means ACE can better service large Canadian multinational companies, as well as smaller but growing companies that may be interested in increasing their operations both in North America and around the world,” ACE said in a statement.

Matt Merna, division president of ACE Risk Management Global Casualty, said, “Canadian companies are looking for the best risk management solutions, given their unique challenges, while they conduct business in Canada as well as in other countries across the globe. Our experience dealing with many of the largest companies worldwide provides us with a unique opportunity to provide customized solutions for these clients.”

Program structures include: high deductibles, fronts, captives, self-insured retentions (SIRs), and the following guaranteed cost options:

• Up to $5,000,000 primary general liability and automobile policy limits
• Foreign casualty
  – Contingent automobile liability & physical damage
  – Global medical and accidental death & dismemberment (AD&D)
  – Global kidnap & extortion (up to $200K limits)
  – Foreign commercial property capacity up to $50M per location
  – Foreign voluntary workers compensation with state/province or country of hire benefits; employers liability limits up to $5 million.

As part of the program, ACE Risk Management Global Casualty has introduced updated policy and endorsement language in its Canadian general liability policy. The new policy language improves clarity and consistency within the form; provides for consistent interpretation of coverage language, and makes it easier to customize coverage and tailor the policies to each client’s unique needs, the company said.

Leading the team is Charles Lee, vice president, ACE Risk Management Global Casualty, who has more than 20 years of industry experience and expertise.

Via its global network, ACE is able to issue or arrange for local policies in nearly 200 countries around the world, the company said in its statement.

ACE’s offering is supported by ACE’s service and technology solutions, including ACE Worldview®, an interactive portal that delivers domestic and international policies and other documents electronically. This portal also provides customized reporting tools for managing and tracking program information.

Source: ACE Group

Topics Canada Risk Management Casualty