Tags: ACE Casualty Risk, ACE Custom Casualty, ACE Foreign Supplier Liability Insurance, ACE Global Underwriting Group, ACE Group of Companies, ACE North America Communications, ACE USA, Casualty Risk and Global Underwriting Group, Foreign Supplier Liability Coverage, USA

Single application, global solution available for U.S. and foreign coverages

ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today introduced its ACE Foreign Supplier Liability InsuranceSM product uniquely designed for U.S.-based companies that purchase or distribute completed products or component parts from foreign suppliers. This product, offered by ACE USA’s Casualty Risk and Global Underwriting Group, provides global primary coverage for U.S.-based companies and designated foreign suppliers against product liability claims arising from the U.S. company’s sale or distribution of foreign-sourced or manufactured products.

The ACE Foreign Supplier Liability Insurance product can offer primary and excess limits up to $5 million per occurrence or $10 million aggregate for the U.S. coverage option. The foreign coverage option can offer primary limits up to $2 million per occurrence and $4 million aggregate. General aggregates are available on a per supplier basis subject to underwriting review. This product is targeted to U.S.-based companies of all revenue sizes, including: distributors, importers, retailers, wholesalers, and manufacturers that source components outside the U.S.

“ACE is a leader in providing risk management solutions to meet the evolving needs of our U.S. companies We’re pleased to offer a seamless, single global coverage solution for U.S. customers with global supply chains who require their foreign suppliers to provide certificates of insurance. This new combined coverage simplifies the risk management process, by providing a single source for U.S. companies wishing to secure global primary product liability coverage,” said Mitchell Schmidt, Senior Vice President, ACE Custom Casualty, part of ACE Casualty Risk.

Speaking about the benefits offered by this new product, Clint Johnson, Executive Vice President & Head of Foreign Casualty, ACE Global Underwriting Group said, “Global risks require flexible solutions. Now more than ever, risk managers and brokers need an insurance carrier with the depth of underwriting expertise and breadth of products to provide them with creative and customized solutions. With the ACE Foreign Supplier Liability Insurance product, U.S.-based companies have the option of obtaining worldwide coverage that can extend to their foreign subsidiaries, with the same terms and conditions–and with the full assurance that this coverage complies with U.S. and foreign regulatory requirements.”

Key benefits of this coverage include:*
Simplified risk management process for foreign suppliers
Single streamlined application for domestic and international coverage
Single global solution with coordinated policy issuance
Global servicing: state of the art infrastructure and dedicated global services team

For more information, contact Mitch Schmidt at (215) 640-1816 or Mitchell.Schmidt {at} ace-ina(.)com or Clint Johnson at (215) 640-4707 or Clinton.Johnson {at} ace-ina(.)com.

*Product highlights are summaries only; please see actual policy for terms and conditions.

ACE Casualty Risk, a division of ACE USA, specializes in lead umbrella and excess liability, custom primary casualty, construction, environmental liability, public entity, and middle market workers compensation insurance products and services, which are primarily distributed through the retail brokerage community to the commercial market. ACE Global Underwriting Group, a division of ACE USA, specializes in global programs and specialty coverages and provides comprehensive risk management programs and services for a diverse market of mid- to large-size U.S. companies, not-for-profit and government entities.

ACE USA is the U.S.-based retail operating division of the ACE Group of Companies, headed by ACE Limited (NYSE: ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor’s. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.aceusa.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.
Contacts

ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara {at} ace-ina(.)com