ACE Casualty Risk, a unit of ACE USA—the U.S.-based retail operating division of The ACE Group of Companies—today introduced a new Casualty Premises Pollution program designed to offer general liability and premises pollution coverage in a single primary policy. This new product helps companies address potential gaps in coverage by providing a broad range of pollution protection not typically found in a general liability policy. Umbrella coverage specifically tailored to the program is also available.
"ACE continues to respond to the changing marketplace and increased demand for environmental liability products," said Geoffrey Gregory, President, ACE Casualty Risk. "This new product fulfills a market need by delivering a primary general liability policy form that also provides substantial capacity for premises pollution coverage."
Insurance is provided with up to $10 million in limits and coverage is written on a non-admitted basis In addition, this policy is offered with a minimum premium of $150,000 and a minimum self-insured retention of $25,000. Higher limits up to $25 million may be available for certain classes. The target market for this new policy includes manufacturers and distributors in the following areas: chemicals; industrial machinery; non-critical auto parts; and other non-standard exposures.
Coverage highlights include the following:
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Commercial general liability coverage
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Coverage for clean-up costs and third-party bodily injury and property damage arising out of pollution on, at, or emanating from an insured location
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Third-party coverage for bodily injury, property damage and remediation costs arising from pollution conditions resulting from the transportation or disposal of wastes or products
ACE Environmental Risk offers a full range of environmental liability solutions designed to minimize bottom line impacts and provide hands-on management for those liabilities. These products are distributed through the brokerage community, and through wholesalers to the commercial market. Non-admitted products are marketed through licensed surplus lines brokers. ACE’s environmental liability offerings also include premises pollution liability, contractor’s pollution liability, remediation cost containment and blended finite risk programs.
ACE USA is a U.S.-based operating division of The ACE Group of Companies, headed by ACE Limited (NYSE: ACE). ACE USA provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com . The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.