ACE Launches New Homeowners Coverage for High Net Worth Families

April 3, 2009

ACE Private Risk Services, part of the ACE Group of Cos., unveiled a new homeowners policy designed to meet the needs of high net worth customers.

The new policy, which will be offered through independent agents and brokers, allows families with substantial assets to tailor coverage to their specific needs. It includes unlimited loss of use coverage, mold coverage of up to 100 percent of a home’s insured value and optional endorsements for primary flood and surface water coverage and family security coverage for home invasion, child abduction, kidnapping, car jacking, and more

The policy is one component of the ACE Platinum Portfolio insurance program, which ACE launched in May 2008.

“Like many consumers, clients with substantial assets have become more value conscious and risk adverse in today’s economy,” said Bob Courtemanche, CEO of ACE Private Risk Services.

Additional benefits of the policy include complimentary risk consultation services for high value homes and the promise to pay the full cost of rebuilding the home in the event of a total covered loss, even if the amount exceeds the value of the home listed in the policy.

The ACE Platinum Portfolio policy is available in 20 states and the District of Columbia. ACE plans a national roll out of the coverage by the end of the year.

Source: ACE Group of Cos.

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