ACE USA, the U.S.-based retail operations of ACE Group, has introduced a Foreign Casualty Pollution Liability Coverage Endorsement. The endorsement provides a limited pollution coverage extension, in conjunction with ACE ATLAS CMP, ACE’s U.S. Controlled Master Program policy, designed to provide coverage for U.S.-based multinational organizations with complex exposures. The expanded coverage is designed for borderless international pollution liability protection for certain gradual as well as sudden and accidental first- and third-party environmental liabilities.
ACE says ATLAS CMP is part of the ACE USA International Casualty product suite for U.S.-based, mid-sized to large multinational companies that have operations or employees who travel outside the United States. The product offerings range from guaranteed cost package policies to complex multinational programs with sophisticated risk transfer options. As part of the product suite, ACE also has the ability to coordinate locally admitted policies across the entire ACE global network through ACE Worldview, a web-based information portal for risk managers and brokers with multinational insurance programs that provides an up-to-date status of their entire global program.
Key features of the Foreign Casualty Pollution Liability coverage endorsement include Dedicated Limit of Liability ($1M per/$1M aggregate); first- and third-party coverages for new pollution conditions on a gradual basis; international coverage territory; dedicated environmental claims specialists; and being backed by the ACE Group’s financial strength, says ACE.
