ACE Expands Catastrophe Capacity in North America
The ACE Group has increased 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 network of property businesses, which includes fronting and captive options, ACE’s Specialty Catastrophe Unit, a range of wholesale products, and comprehensive inland marine insurance services.
The increase in 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 risk and catastrophe capacity to a 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 options for clients where traditional property insurance may not match their needs or where deductible levels have exceeded the client’s appetite for risk, often brought about through significant losses or changes in industry models. 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 team of professionals with multinational expertise, technical program design and competitive terms. ACE’s secure, web-based Worldview 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 range of 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 provides both retail and wholesale inland marine insurance products, with significant capacity, underwriting and loss control expertise for the 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 management products 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.
