ACE Group is aiming for the U.S. middle market with the launch of expanded excess casualty coverage for companies with complex risk exposures.
The insurer said its enhanced offerings will come through ACE Excess Casualty. This will include ACE’s new AB Umbrella form, a combination that blends excess and umbrella liability policy and is designed to close coverage gaps. That combo now contains built-in catastrophe management coverage and higher capacity limits, ACE said.
Clients can also choose optional key executive personal liability coverage and a cyber-risk endorsement.
Businesses with revenues of up to $1 billion can access the product.
Joseph Fobert, senior vice president, ACE Excess Casualty, said in prepared remarks that wider insurance coverage for the middle market is needed “to help protect against a broad range of potential risk exposures such as catastrophic events, cyber liability” and to provide catastrophe management services, among other options.
Other details of ACE’s enhanced corporate risk coverage for the middle market:
- Increased capacity limits of up to $50 million
- Coverage for about 700 industry classes
- Cyber event coverage endorsement with $25,000 in annual limits for cyber event costs, including reimbursement for “obligated” expenses incurred by the insured for retained services such as a public relations firm, law firm, computer forensics firm and notification service for notifications as required by law.
Source: ACE Group