ACE USA, the US based retail operations of the ACE Group, has launched its enhanced international casualty coverage, ACE ATLAS CMPSM, for industry-specific multinational commercial customers in the US.
ACE said its new enhanced program is specifically designed to provide coverage for multinational organizations with complex exposures in targeted industries, including energy, manufacturing, construction and business and professional services firms.
The ATLAS CMPSM is capable to deliver borderless international casualty programs worldwide through a single point of service, ensures the coverage in compliance with local laws, includes valued services and option for Executive Assistance Services, and provides access to ACE Worldview – a Web-based information portal for risk managers and brokers.
A unit of ACE USA, ACE Foreign Casualty uses controlled master programs (CMP) to provide a master policy for the insured’s difference in limits/difference in conditions coverage in conjunction with local admitted policy placements.
As part of the enhanced coverage, ACE USA will be able to offer insurance programs to those growing industries facing challenging risks around the world.
ACE Foreign Casualty senior vice president Bryan Tedford said the company’s enhanced foreign casualty product offering and access to its global network can help multinational clients navigate the complexities of conducting business worldwide.
"Providing this centralized industry-specific program offers the client a single access point and lower cost by reducing the administrative expenses incurred when managing multiple policies worldwide," Tedford said.
The ACE ATLAS CMP Program provides coverage for general liability, wrap-ups, project-specific programs, contingent and locally admitted automobile, foreign voluntary compensation and repatriation, locally admitted workers compensation and locally admitted employers liability, and contingent employers liability.
The program structures include guaranteed cost, deductibles, and self-insured retentions; captives and retros.