Single policy eliminates environmental liability coverage gaps with multiple-coverage approach
TORONTO, May 28 2009 – ACE Canada, the Canadian-based operating division of the ACE Group, today announced the launch of ACE Premises Pollution Liability Portfolio (PPL Portfolio). This program is designed to offer pollution coverage in a single policy for owners, operators and managers of a flexible mix of Canadian-based small, mid-size and large account commercial real estate portfolios, including hospitality and multi-tenant residential properties. ACE PPL Portfolio combines traditional new and pre-existing pollution coverage with coverages for pollution liability exposures from non-owned disposal sites, contingent transportation, fungi, legionella and off-site operations on a claims-made basis.
ACE PPL Portfolio is available to clients and brokers through the ACE Environmental Risk underwriting team.
“ACE continues to respond to the changing marketplace and increased demand for environmental liability products and services,” said David Brosnan, Chief Executive Officer, ACE Canada. “Environmental risks are always a big concern in the commercial real estate industry, as an environmental event can dramatically affect a property’s value and interrupt business operations. This program provides a streamlined approach to
ACE Canada Launches Pollution Coverage to Respond to Growing Needs of Commercial Property Owners and Managers; Single policy eliminates environmental liability coverage gaps with multiple-coverage approach evaluating an account’s exposure to environmental liability by offering pollution insurance and dedicated environmental claims handling in one policy.”
- Underwriting of account’s environmental management program and due diligence process
- Coverage for premises, operations, completed operations, business interruption/physical damage from pollution conditions, pollution clean-up, all under one policy
- Minimum self-insured retention of $25,000
- Limits available up to $25 million
- Unscheduled locations
- Fungi and legionella coverage offered on a presence basis
- Automatic acquisition and divestiture coverage
ACE Environmental Risk offers a full range of environmental liability insurance solutions designed to minimize bottom line impacts and facilitate a policyholder’s hands-on risk management for those liabilities. ACE Environmental Risk’s liability product offerings include premises pollution liability, contractor’s pollution liability, and remediation cost containment programs. These programs are primarily distributed through the retail brokerage community to the commercial market.
(*)Product highlights are summaries only; please see actual policy for terms and conditions. Products remain subject to ACE Environmental Risk’s underwriting criteria.
About ACE Canada
ACE Canada(R) refers to ACE INA Insurance and ACE INA Life Insurance, subsidiaries of the ACE Group of Companies, headed by ACE Limited (NYSE: ACE), and is rated A+ (Stable) by A.M. Best Company and A+ (Positive) by Standard & Poor’s. ACE Canada, through its underwriting companies, provides insurance products and services throughout Canada. Additional information on ACE Canada and its products and services can be found at www.ace-ina-canada.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.