ACE USA has launched ACE Risk Management Commercial Close Out, a new product that allows insured to budget the future premium necessary in order to close out their loss sensitive program.
As a result of this new product, the benefit to the customer is the return of the associated collateral. The product is designed for those customers who wish to participate in risk financing programs, but have limited capacity to support the accumulation of collateral that is typically associated with long tail risks, such as workers compensation.
Ken Riegler, executive vice president and operating officer of ACE risk management-commercial accounts, said: This product particularly focuses on responding to the risk management challenges of an insured with limited risk management resources. ACE Risk Management Commercial Close Out is a solution that allows customers to have more peace of mind in mitigating deductible loss exposures.