ACE Forms Financial Services Industry Practice

August 17, 2004

ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has announced the creation of the ACE USA Financial Services Practice. This specialized practice will focus on providing comprehensive risk management solutions to the financial services market segment, a sector to include commercial banks, diversified financial services organizations, insurance companies, mutual funds and securities firms.

The ACE USA Financial Services Practice will seek to develop strategic partnerships with the financial services industry by coordinating the delivery of ACE’s industry-specific products and services. These existing capabilities include both traditional and non-traditional risk management solutions designed to meet the unique issues facing this industry.

Additionally, this new organizational initiative will seek to be an
industry leader and key participant in the ongoing dialogue among
financial services organizations and the brokerage community to develop new products and services to effectively address the emerging risk issues facing today’s financial services firms.

Joe Clabby has been named to lead this new practice. Clabby adds this responsibility to his existing role as Senior Vice President of ACE
Financial Solutions, reporting to Will Dove, President of ACE Financial
Solutions. As the Financial Services Practice leader, Clabby will
report to John Lupica, President of ACE USA Professional Risk and ACE USA Regional Operations. Clabby will be responsible for the
coordination of the marketing and distribution of ACE USA’s capabilities, as well as developing new product ideas and identifying
opportunities to expand existing relationships in this market segment. Clabby has over 20 years of experience in banking, brokerage and insurance underwriting. Prior to joining ACE in November 2001, Clabby was a Member of Senior Management for the Banking Industry Practice of Swiss Re.

Products and services currently available through the ACE USA Financial Services Practice include:

* Professional Liability
* Directors & Officers
* General Liability
* Umbrella
* Property
* Workers Compensation
* Excess Liability
* Captives
* Loss Portfolio Transfers
* Finite Risk and Structured Products
* Environmental
* Accident and Health Services
* Risk Management Services
* Claims Management

These products and services will be distributed through the brokerage

Topics Chubb

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