Ace Group’s small commercial specialty lines business Ace Commercial Risk Services (Ace CRS) has added new products to its suite of specialty commercial products.
The new products are provided through Ace Solutions Fast Track, the online small business underwriting solution from Ace CRS.
The new products and coverages comprise lessor’s risk business owners policy (BOP) that will defend owners of real estate investment property rented to others and liquor liability product that covers hospitality risks, including bars, restaurants, retail stores, and nightclubs.
Ace’s new product also include commercial umbrella that offers coverage over the Ace BOP or other approved package, auto, and employer liability carriers and employment practices liability insurance BOP enhancement (EPLI) product that offers coverage for defense costs and damages stemming from various employment-related claims.
Its other products include privacy liability and data breach insurance BOP enhancement (cyber) product that offers coverage for attorney’s fees and damages for not properly handling, managing, storing, destroying or otherwise controlling personal information.
In addition, it provides professional liability BOP enhancement product that offers Ace errors and omissions coverage on a BOP endorsement to a wide range of professional classes.
ACE Commercial Risk Services specialty and micro lines president David Charlton said: "Our goal at Commercial Risk Services is to continue to expand our product offerings for small businesses in North America so that our brokers can provide a complete insurance solution.
Designed for small businesses, the Ace Solutions Fast Track system has also added with new features, including pre-filing building data such as year built, construction, occupancy, number of stories, and square footage, as well as building valuation estimator and business personal property estimator.
Image: ACE North American headquarters at Philadelphia. Photo: courtesy of William Taufic 2010.