ACE Casualty Risk Offers New Products for Environmental Risk Market

April 7, 2003

ACE Casualty Risk announced that it would provide broader product and service solutions for the environmental risk market through its environmental underwriting unit–ACE Environmental Risk (AER).

The expanded offerings include: A package policy covering environmental Contractors Pollution Liability and environmental consultants Errors & Omissions (CPL/E&O); Enhanced Contractors Pollution Liability (CPL) coverage; and value-added engineering services including a comprehensive 24/7 environmental crisis management and environmental claims reporting through a toll-free hotline.

“ACE continues to respond to the demand for increased capacity for environmental liability products and has the financial strength and underwriting capabilities to service the needs of the environmental liability market,” said Susan Rivera, president, ACE INA Holdings, Inc. “The expanded product and service offerings of the Environmental Risk unit complements many of ACE’s existing product offerings and overall business strategy.”

Contractors Pollution Liability Coverage with an enhancement is designed to offer claims-made-and-reported contractors pollution (CPL) coverage to commercial contractors with coverage for mold-related claims. Coverage is offered up to $100,000 beginning on day one, and includes the ability to secure higher sub-limits after AER specialists conduct a detailed Mold Awareness Training Program, at AER’s expense.

Contractors Pollution Liability and Environmental Consultants Errors & Omissions (CPL/E&O) is a package policy designed for medium-sized environmental contractors and consultants who derive a majority of their revenues from environmental services.

AER’s CPL/E&O policy protects against pollution liability for gradual as well as sudden and accidental third-party environmental liabilities arising out of the covered operations of the insured. In addition, the coverage protects environmental consultants against claims arising out of errors and omissions while performing professional services.

AER’s Value-Added Engineering Services offer insureds a built-in opportunity to enhance existing risk management programs with access to a national network of best-in-class engineering consultants. This helps reduce the frequency and severity of potential environmental claims and assists in implementing a proactive approach to potential environmental exposures.

ACE Environmental Risk offers a full range of environmental liability solutions designed to minimize bottom line impacts and provide hands-on management for those liabilities. These products are distributed through the brokerage community, and through wholesalers to the commercial market. Non-admitted products are marketed through licensed surplus lines brokers.

ACE’s environmental liability offerings also include premises pollution liability, contractor’s pollution liability, remediation cost containment and blended finite risk programs.

For more information, please contact Karl Russek, vice president of ACE Environmental Risk at 215 640-4786.

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