Global multiline property and casualty insurer the ACE Group has expanded critical catastrophe limits to $30m, throughout all its North American retail and wholesale broker-distributed commercial property lines of business.
The company said that the capacity will be offered through its extensive network of property businesses, which consists tailored fronting and captive services, ACE’s Specialty Catastrophe Unit, a complete range of wholesale products, and inland marine insurance services.
ACE North America insurance chairman John Lupica said the company has been distributing capacity where its clients need it most since consolidating the structure of its property businesses in 2009.
"With this increase, clients will further benefit from ACE’s ability to coordinate capacity across our retail and excess & surplus (E&S) lines businesses in North America," Lupica added.
The insurer said that the increase in critical catastrophe limits is available to all US and Canada based wholesale and retail property and inland marine units.
Having operations in 53 nations, ACE delivers commercial and personal property and casualty insurance, personal accident supplemental health insurance, reinsurance, and life insurance to various clients.