ACE Private Risk, Generac Power Systems Launch Personal Lines Program

June 1, 2012

ACE Private Risk Services, the high net worth personal insurance business of the ACE Group, and Generac Power Systems, a manufacturer of generators and engine powered products, have formed a program to help ACE clients minimize potential disruptions to their lives and significant damage to their home due to power outages. The program is first being introduced in New York, New Jersey, and Connecticut – states that suffered significant damage in 2011 from Hurricane Irene and the late-October snowstorm.

To encourage the installation of automatic standby generators, ACE Private Risk Services offers up to a five percent discount on its homeowners insurance policy premium. With the introduction of this program, participating Generac dealers will visit an ACE client’s home and perform a free installation consultation. Additionally, Generac is offering a free five-year extended warranty to ACE clients who purchase a generator by July 31, 2012, and then complete installation by Sept. 30, 2012.

“Last year many of our clients had to abandon their homes, watch basements flood, let food and expensive wine collections spoil, and leave precious artwork and other valuables unguarded due to power loss lasting more than a week after Hurricane Irene and the late-October snowstorm,” said Gary Raphael, senior vice president, Risk Consulting at ACE Private Risk Services. “Those who had automatic standby generators fared much better because their sump pumps, heating and cooling systems, and alarm systems kept working. People often forget how much their homes depend on power.”

Generac’s automatic standby generators provide an auxiliary source of electricity that operates during a power outage, whether the family is home or away. Within seconds of an outage, it automatically supplies power directly to the home’s electrical circuit breaker box. After utility power returns, the generator shuts itself off and waits for the next outage. The system operates on natural gas or liquid propane gas and sits outside the home, just like a central air conditioning unit.

“The automatic nature of the standby generator is very important for our clients, because they tend to travel a lot and have multiple homes,” noted Raphael. “If the power goes out while they are away, they don’t have to worry about the failure of critical systems that protect the home.”

To take advantage of the program, ACE Private Risk Services’ clients with homes in New York, New Jersey and Connecticut should call 1-888-GENERAC (436-3712) and identify themselves as an ACE client. They will be connected with the nearest participating Generac dealer, who will visit the home to evaluate the size of the generator required, the best location for the generator, and the cost of installation.

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