TECHNICAL & ENGINEERING INSURANCE ACE TECHNICAL LINES

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1 TECHNICAL & ENGINEERING INSURANCE ACE TECHNICAL LINES

2 Companies today are looking for an insurer who can cater for their whole range of technical or engineering insurance requirements, from machinery breakdown, construction of commercial or private properties, civil construction risks or machinery installation. ACE s underwriters work with companies across many sectors of industry and business and help design bespoke insurance products for brokers and their clients needs. In addition we have a team of specialist engineers who can provide invaluable risk advice to clients and brokers.

3 CONSTRUCTION ALL RISKS & ERECTION ALL RISKS COVER At ACE we recognise the often complex contractual nature of the construction business and we provide tailored construction insurance products, drawing on our expertise to assist our clients and their brokers in meeting their specific needs. In adopting this flexible approach to business we provide wide protection to the construction parties involved on both an annual and single project basis. Construction parties, whether they are principals, managing or main contractors, contractors and/or sub contractors, manufacturers and/or suppliers, banks and/or other financial institutions, can all be protected. We combine our wealth of expertise in the construction field with our capabilities in property and casualty insurance to provide seamless cover from the construction phase through to the fully occupied building. This helps to avoid gaps in cover and is a concept that appeals to clients and investors as it aligns with project finance thinking. We provide seamless cover from the construction phase through to the fully occupied building.

4 ACE TECHNICAL LINES Construction All Risks (CAR) On either an annual or project basis where the greatest contract exposure lies with the building or construction work. Our construction abilities are geared to insurance protection for building work for both commercial and domestic construction as well as civil engineering works. Erection All Risks (EAR) On either an annual or project basis where the greatest exposures lie with plant, machinery and equipment and its explosion or breakdown during testing. Our erection all risks strategy is to insure all the major industry segments especially power generation whether it is via traditional thermal energy or from renewable or alternative energy sources. We insure the installation of general manufacturing machinery and production lines such as print works, food processing and bottling plants as well as heavy industries such as iron and steel production and processing plants. Advance loss of profits - project specific The growth of build and operate schemes and private financing has also increased the requirement to insure advance loss of profits (ALOP), providing indemnity against loss of anticipated revenue through delay in completion of the project due to a claim under the project CAR or EAR policy. Overseas risks The ever expanding global construction and engineering market provides a wide range of opportunities for UK based contractors to work in overseas territories. ACE European Group has operations in 28 countries across Europe, the Middle East and Africa and employs over 2,600 people. Globally it has a very strong presence, helping clients manage their risks anywhere in the world. We are able to offer seamless solutions to our customers which includes agreeing coverage, issuing policies, adjusting claims around the world, all in accordance with legislative conditions and agreed service standards. ACE is perfectly placed to provide insurance and related services to such companies because of its global network and its financial strength. ACE is rated AA- (very strong) by Standard and Poor s and A+ (superior) by AM Best.

5 Environmental impairment The Contractors Pollution Liability (CPL) insurance is specifically designed to offer protection for third party environmental liabilities arising out of the operations of the insured. A range of insurance cover is available for insureds and their sub-contractors with solutions tailored to the specific needs of each risk. The cover can be provided as an extension to the public liability policy both on project and annual policies.

6 ACE TECHNICAL LINES MACHINERY BREAKDOWN & BUSINESS INTERRUPTION Machinery breakdown/business interruption insurance can be provided on a stand-alone basis or in connection with other package policies from ACE. Our policy covers electrical and mechanical plant, boiler and pressure plant and all integral parts for physical damage against a variety of perils, detailed below. Cover can be extended to include business interruption following these perils and can be written on either our engineering package insurance policy or our Renewable Energy policy wording, as appropriate. Our policy can be tailored to meet the risk exposure of most businesses. The cover can be categorised into three main areas: Machinery breakdown Pressure explosion and collapse Sudden and unforeseen damage Machinery breakdown covers The actual failure, breaking, distortion or burning out of any part of the machinery Damage following failure or fluctuation of the electricity supply The fracturing of any part of the machinery by frost where the fracturing makes that part of the machinery inoperative Operator error or omission Pressure explosion and collapse covers Explosion due to the sudden and violent rending of boiler and pressure plant by force of internal steam or other fluid pressure, which causes the bodily displacement of any part of the property Collapse due to the sudden and dangerous distortion of any part of the boiler and pressure plant caused by the crushing stress by force of steam or other fluid pressure Sudden and unforeseen damage covers Damage to the property by pressure explosion or collapse or any other sudden and unforeseen cause not excluded Our cover offers reinstatement as new for boiler and pressure plant up to ten years old, and electrical and mechanical plant up to three years old. Our standard business interruption indemnity period is 12 months.

7 Renewable energy We offer all risks cover including fire and perils on renewable energy risks. This cover includes machinery breakdown on both the material damage and business interruption covers. This policy can also cover public liability, employers liability and operational environmental liability covers. More information can be found on this cover in our Renewable Energy brochure. Our policy can be tailored to meet the risk exposure of most businesses.

8 ACE TECHNICAL LINES Computer insurance Organisations are becoming ever more reliant on computer systems, networks and the Internet with online trading, e-marketing, social media and proprietary websites all required for marketing and sales as well as business administration. Their IT systems are their number one business critical asset and loss or damage to computer systems could be disastrous for a business. ACE has two products to protect computer systems and the data within it. Computerguard This is a specialist policy designed to insure computer hardware including servers, PCs, laptops, tablet computers and similar items as well as such items as dedicated air conditioning plant and cabling. Cover includes additional expenditure, distortion of data and can be extended to incorporate loss of revenue. The cover is wider than most property insurance covers and is designed to support the modern business. It offers worldwide cover on portable computers and also has full theft cover. Dataguard ACE also offers cyber and e-liability covers under our Dataguard policy. See our specific Dataguard brochure for more information on the covers available under this product. ACE engineering services ACE engineering is a dedicated resource of risk engineers within the Technical Lines team who not only provide technical support to the underwriters but also provide support and advice to our policyholders. The experience within our team covers many areas from general construction activities through to heavy industrial risks, waste-to-energy process plants, power plants and renewable energy. The types of services provided include: Pre- or post-inception survey Construction survey Post loss survey Crisis management systems For more information on ACE s Technical Lines and engineering capabilities contact your local ACE office or visit

9 Our extensive experience, covering major annual and project engineering risks around the world, supports the underwriting capabilities within ACE to deliver solutions on large and complex construction risks.

10 ACE TECHNICAL LINES WORKING WITH ACE Global reach, local knowledge ACE offers insurance solutions to a diverse array of clients. We have successfully blended the knowledge of our local markets with the worldwide perspective of a global organisation with products delivered and supported by ACE Global Programme Solutions (ACE GPS SM ), specialists in the management of international risk. ACE GPS SM sits at the heart of our multinational capability and brings together all of the following attributes into a dynamic, client-focused solution: Skilled underwriters A fast and responsive service A wide range of insurance products Compliance expertise Financial security Industry-leading technology The breadth of our products and the skills of our underwriting teams allow you to consolidate your business with us, making for more efficient administration. With our worldwide network we can respond to your needs by quickly moving premiums, issuing policies, resolving claims and assisting post loss to get businesses up and running again. As well as providing you with market-leading service levels, ACE is also able to draw on its global network and resources to provide you with reliable information on insurance and regulatory requirements worldwide. All of this expertise, experience and resource means that, when arranging cover from ACE, you can be confident of receiving an efficient and responsive service that meets your changing needs.

11 Working with ACE We trade through a select group of brokers, and work hard to achieve close relationships with each, offering a prompt and valued service. Our underwriters are highly rated for their knowledge and expertise. Flexibility combined with high levels of underwriting authority at branch level allow our underwriters to find solutions to underwriting challenges. Brokers have direct access to the underwriters making the decisions and can ensure a full understanding of the risk and the issues faced by the client. We are proud of our people, their integrity and their professionalism. Our claims teams settle non-complex losses quickly with a minimum of paperwork, whilst with larger, more severe or complex losses, we seek to work closely with the insured or the broker to provide a consistent, prompt and equitable settlement within agreed service standards and time frames. Significant investment in the latest technology has enabled us to harness market-leading electronic document handling, creating significant efficiencies in quotations, swift and accurate policy issuance and claims handling. With a nationwide network of offices in all the main financial centres of the UK and Ireland, ACE is ideally placed to serve all sizes of company in all areas.

12 CONTACT US ACE European Group Limited 2nd ACE Floor Building 5100 George s Leadenhall Dock Street IFSC London EC3A 3BP Dublin Tel: Tel: Fax: Fax: ACE European Group Limited ACE registered European no Group Limited is registered trading as in England ACE Europe at registered and Combined office Insurance, 100 is Leadenhall authorised Street, and regulated London, EC3A by the 3BP Prudential and authorised Regulation by the Authority Prudential in the United Regulation Kingdom Authority and and is regulated by by the Central Financial Bank Conduct of Ireland Authority for conduct and of the business Prudential rules. Regulation Authority. Additional information can be found Registered branch in Ireland no at at 5 George s Dock, IFSC, Dublin 1. ACE 071UK European Group Limited (company Published November no ) 2013 is registered in England and Wales with registered office at 100 Leadenhall Street, London EC3A 3BP. 071IE Published November 2013 About ACE Group Established in 1985, The ACE Group has grown rapidly to become one of the world s premier providers of insurance and reinsurance products and services. ACE has offices in 54 locations and can help clients manage their risks anywhere in the world. Our clientele varies from multinational corporations with property and casualty exposures, to individuals purchasing personal accident, travel or supplemental health insurance. We offer products tailored to the needs of any size of client. ACE has a strong presence across the United Kingdom and Ireland, with 13 offices employing 1,300 people and serving 5 dedicated regions: Ireland, Scotland, North of England, Midlands and Wales, and London and South East England. Ours is a customer-centric business model: we have a relationship management structure for key accounts and claims and 20 dedicated business relationship managers. ACE is listed on the New York Stock Exchange with the ticker ACE. ACE s core underwriting insurance companies are rated AA- (very strong) by Standard & Poor s and A+ (superior) by A.M. Best.