ACE USA, the U.S.-based retail operating division of the ACE Group, has launched a new occupational accident policy with optional contingent liability coverage. Designed for motor carriers, the policy provides occupational accident coverage to drivers under contract with the motor carrier, who is not required by law to carry workers compensation coverage.
“For owner-operators and their families, the personal and financial impact of an accident while working under contract can be devastating,” said Joe Vasquez, division president, ACE Accident & Health. “ACE’s occupational accident policy enables carriers to offer coverage that can be tailored to respond to business risks, and enables the carrier to protect, retain, and attract owner-operators.”
Key highlights of the ACE occupational accident policy with optional contingent liability coverage include:
- Accidental death & dismemberment and paralysis benefits up to $500,000 per person
- Survivor benefits up to $500,000 per person
- Accident medical/dental expense benefits up to $2 million per person
- Temporary total disability benefits up to $1,000 per week
- Permanent disability benefits up to $4,300 per month
- Non-occupational accident benefits up to $25,000 per person
In addition, ACE offers a contingent liability option that provides protection if a contracted independent operator purchasing occupational accident insurance attempts to obtain an award from the carrier’s workers compensation policy. This coverage includes workers compensation reimbursement benefits, employers’ liability benefits, as well as reasonable defense costs and expenses related to a covered contingency.
Insurance is provided ACE American Insurance Co., Philadelphia, Pa., and other insurers within the ACE Group. Product descriptions are summaries only. The actual policy issued governs the rights and obligations of the parties. Not all products are available in all states. Surplus lines insurance is sold only through licensed surplus lines producers.