ACE Extends Environmental Liability Coverages to Lloyd’s

January 30, 2009

ACE announced that it is extending its Environmental Risk capabilities by writing the company’s portfolio of Environmental Liability products at Lloyd’s.

“ACE’s suite of environmental products is now available through ACE Global Markets Syndicate 2488, with appetite across all industry sectors,” said the announcement. “Capacity to a maximum of £20million (€25million/US$30million) can be offered per risk for all worldwide territories, including the USA.”

Wayne Harrington, Environmental Risk Manager for UK & Ireland, explained: “Utilizing our Lloyd’s capacity further demonstrates ACE’s global commitment to the environmental insurance business. This move facilitates broker access to our range of Environmental Liability products at a time when they need a flexible, financially strong insurer more than ever.

“Having a Lloyd’s presence further enhances the efficiency and effectiveness of our solutions and their distribution, particularly for international risks and the global programs we offer multinational clients.”

In addition to Lloyd’s, ACE offers brokers access to its Environmental Liability portfolio at the company’s own trading floor in Leadenhall Street, London and through its regional network of 11 offices.

ACE further described the coverage available through its Lloyd’s syndicate as follows:
— Capacity of £20m, €25m or US$30 million per policy for all worldwide territories including USA;
— licensed in over 75 countries including the Cayman Islands, Bahamas, British Virgin Islands;
— primary and excess capacity;
— structure solutions as insurance or reinsurance, and
— a dedicated Environmental Risk team with many years experience in both underwriting and technical consultancy.

Source: ACE Group – www.aceeuropeangroup.com or www.acelimited.com

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