ACE Group has launched two new D&O insurance products and has appointed a new financial lines manager in Germany, as it continues to respond to the rapidly evolving management liability cover needs of companies in Europe’s biggest economy.
ACE D&O ProElite Domestic 2015 is designed to reflect the continuously evolving risk environment in the area of liability and claims against directors and officers, ACE said in a statement.
The new policy offers coverage enhancements and is suitable for companies in all sectors and of all sizes, private and listed, including large multinationals. The product’s features include among others, preservation of Side A limit, professional and contractual liability cover, as well as a legal and a crisis communications helpline. ACE went on to say that the cover can also be structured as a multinational insurance program.
Discussing the second product, ACE said that D&O Express has been designed for the needs of brokers and their small and medium-sized clients. The new product is available online and provides cover through a simplified underwriting process, which allows for the instant online issuing of D&O policies and quotes, with complete privacy. Additionally, brokers are able to change information included in contracts such as expiration dates, addresses and term and conditions, online and without delay. Furthermore, the product offers an extended reporting period of up to 12 years and an unlimited extended reporting period for retired insured persons.
D&O Express is the first product to be included in ACE’s new EASYACE insurance proposition in Germany, providing efficient service to brokers and their small and medium- sized commercial clients.
In addition, Jana Dünkeloh has been appointed to the new role of financial lines manager for Germany, effective immediately. In her new role, Dünkeloh will be responsible for the performance and the profitable growth of ACE’s financial lines portfolio in Germany and Austria, with an emphasis on the further development of the company’s D&O offering.
Dünkeloh has 13 years of financial lines experience. She joined ACE in 2007 as senior financial lines underwriter for Germany and for the past four years she has been deputy financial lines manager. Previously she held financial lines underwriting roles for global insurers in Germany and in London.
“Management liability is becoming an increasingly important risk for German companies of all sizes, with smaller ones frequently more vulnerable to this type of external threat and large multinationals facing an increasingly complex regulatory environment,” said Andreas Wania, country president for ACE in Germany. “The two new products and Jana’s appointment underline our commitment to further respond to the rapidly evolving market needs in this risk category and provide a best-in-class proposition for our clients and brokers in Germany.”
Source: ACE Group
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