Nuts & Bolts: ACE Risk Management, part of ACE USA, introduced a new Split Deductible Limit(SM) Workers’ Compensation product. It is designed to meet the needs of large risk management clients and is a flexible alternative to a traditional Workers’ Compensation Large Deductible product. ACE designed the Split Deductible Limit product to allow risk managers and underwriters to negotiate customized deductible retentions, simultaneously addressing the potential loss scenario concerns of each party. A key advantage of the Split Deductible Limit Workers’ Compensation product is its flexibility. Under this approach, an insured may negotiate two separate deductibles: one that applies as an “Incident Deductible Limit” and another that applies as an “Employee Deductible Limit.” As part of the “Employee Deductible Limit,” an insured may negotiate the number of employees to be included. This approach is specifically designed for large organizations with the financial wherewithal to self-fund significant amounts of risk. ACE will continue to offer its traditional Workers’ Compensation Large Deductible Product.
Carrier: ACE USA
States Available: Approved in 21 states including California, Illinois and Pennsylvania, as well as in the District of Columbia, with the balance of U.S. states pending.
Contact: Jim Macdonald, (215) 640-4367
Topics Workers' Compensation
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