THE ACE ONLINE reference point product guide

THE ACE ONLINE reference point product guide

Contents Six very good reasons why brokers log in to ACE Online 03 Business Class Travel & Personal Accident 04 Excess Liability 06 Management & Corporate Liability 08 Residential Directors & Officers 10 Marine Cargo 11 Environmental Liability 12 Pension Trustee Liability 13 Crime 14 Glossary 15 2

six very good reasons why brokers log in to ace online FOUNDATION When you begin using ACE Online, we will offer a 1-2-1 video call or webinar for your entire team. To help get you started one of our team will walk you through ACE Online and answer any questions. A VOICE Broker Focus Groups; dedicated relationship manager for all your staff; Speedy answers to any question. All of these options are available for you to provide invaluable feedback to ACE. EDUCATION We will give you lots of supporting materials about ACE Online and its products to help you understand our products and to best meet the needs of your clients. Get in touch to find out about our ongoing educational seminars. SUPPORT How you need it, when you need it. Technical and underwriting support is available via our underwriting centre or you can request a video call. You can also call or email your dedicated relationship manager directly. SERVICE We treat all our customers fairly whilst giving the highest priority to speed, efficiency, low hassle, contract certainty and data protection. PRODUCTS We will be growing the number of high quality products we offer you. We will be bringing you four new products in 2014. 3

BUSINESS CLASS TRAVEL AND PERSONAL ACCIDENT BUSINESS CLASS TRAVEL AND PERSONAL ACCIDENT There are two scenarios we hope your business will never have to face: One of your employees is involved in a serious accident An employee is taken ill whilst on a business trip. - How would you respond? - Would your business be able to continue to deliver your current objectives? - Could you assist the employee and their family at a time when they needed your help most? - Can you provide emergency response and medical care in an overseas location? A Group Personal Accident & Business Travel Policy could be the solution. The Personal Accident Cover Provides a lump sum payment in the event of an accident, which results in the death, disablement or serious injury of an employee It can also provide a weekly income in the event of less serious injuries that prevent an employee from working The Payment can be used either by the Company or passed to the employee s family, so whilst this could be used to provide the family with financial support it could equally cover the cost of hiring or covering a key employee. 4

Cover is applicable 24 hours a day and is worldwide so an employee injured outside of work will also be covered The Policy can also assist an employee and their family with expenses they may incur after a serious accident such as retraining in a different occupation or adapting their home to meet their medical needs Employees can even access a helpline to provide them with services such as counselling and advice even if they haven t made a claim The Business Travel Cover Affords unlimited medical expenses cover whilst travelling overseas - so you can be sure your employees are getting the care they need In an ever changing world gives you access to 24/7 emergency assistance worldwide via www. businessclassassistance.com Has cancellation cover for any unforeseen event, meaning you won t be left out of pocket if an employee is unable to travel on a planned trip Provides cover for items that employees might lose or have stolen when travelling on business Enables you to plan your travel with information your employees will need travelling ranging from VISA entry requirements to local medical facilities 5

excess liabilty Excess Liability ACE Online Excess Liability insurance offers comprehensive protection to both small and large companies in the event of a large claim. Good levels of liability cover are necessary to protect against the risk of a large loss, which is why ACE Online enables companies of any size to quickly top up with excess cover. ACE Online offers cover for Excess Public and Products Liability, Employers Liability and Motor (XS Motor can only be purchased in conjunction with Public and Products Liability cover to an equivalent limit). Immediate quotations are offered to companies with a turnover under 75,000,000, across a range of occupations. Policy documents can be bound and issued instantly and ACE Online prioritises rapid referral response times. This cover offers limits up to 25,000,000, and follow form wording is included. (When an umbrella policy provision follows the underlying policy as to how the provision applies.) Up-selling and cross-selling opportunities are also available within the ACE Online system. 6

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Management & Corporate Liability Management & Corporate Liability Management & Corporate Liability cover offers far-reaching protection to company directors and officers in the event of civil or criminal action. ACE Online understands that constant changes in employment responsibilities are of great concern to employers, so our D&O cover is designed to address personal exposure to risk. This cover includes expansive definitions of wrongful act, loss and claim. There are five clear sectors, each carrying its own separate aggregate limit of liability: D&O - Flexible limits available up to 10m Corporate Legal Liability - 50% of the D&O limit purchased Corporate Employment Practices Liability - 50% of the D&O limit purchased. A deductible of 2500 applies to this section Cyber Privacy & Confidentiality - Set limit of 75,000 and nil deductible Kidnap and Extortion - Set limit of 25,000 with a set deductible of 5000 Each of the sections above has their own stand-alone limits. Automatic reinstatement of the D&O sum insured will apply, at no additional cost (not exceeding 20,000,000). 8

ACE Elite SME Plus form also includes a number of cover extensions and has designed a policy that is easy to navigate. ACE Online has partnered with national law firm, Gateley LLP, to provide your clients with added value services to help them avoid any potential Employment Practice or Directors & Officers incidents that may arise. All clients can access a free legal helpline*. Please visit the ACE/ Gateley website for more details at www. acegateleyuk.com * Subject to terms and conditions. Calls from mobiles will be charged at the caller s standard rate. Quotes are produced, amended and bound quickly and clients have access to one of the UK s most experienced D&O underwriting teams, which offers a rapid referral response to your queries. The cover offers flexible limits from 100,000 up to 10,000,000 and is available to private limited companies with up to 500,000,000 turnover and/or assets. 9

residential directors & Officers residential directors & Officers ACE Online s Residents Association Management Liability Insurance is specifically aimed at covering Managing Property Agents who can still be found liable for wrongful acts and sued. The cover has an unrestricted definition of Directors and Officers and also includes Committee Members. Just because it may not be a limited company does not mean that claims will not occur. In today s litigious No Win No Fee business environment anyone with responsibility as a Director, Officer, Committee Member or within a Managerial or Supervisory capacity can face legal action for a wide range of potential wrongful acts. ACE Online uses tailored wording to ensure that the correct cover is in force. We provide cover for the individual Directors and Officers and also automatically include 250,000 limit for the corporate entity itself. This product requires a small number of questions to be answered and no proposal form is required. 10

marine cargo marine cargo ACE Online Marine Cargo insurance allows you to offer comprehensive protection to clients who send 100,000,000 worth of cargo annually. You can produce immediate quotations for a wide range of occupations. ACE Online also facilitates instant binding and issuance of policy documentation. ACE Online s considerable experience in marine insurance allows us to offer unrivalled resources and assistance to users. We understand the need for speedy service, and rapid referral times are our priority. Electronic certificates are available for convenience. ACE Online offers multiple excess options and wide policy wording. 11

environmental liability environmental liability Few companies operate with no environmental exposures. Incidents can arise from all types and sizes of business from a small retail outlet with a heating oil tank to a large chemical works. The costs of any clean-up and damages may be very different in monetary terms but it s more about the relative ability of each company to absorb such financial and reputational costs. Environmental law is constantly evolving and Property and Liability policies are not adapting to meet these legislative changes. As the law continues to evolve, the gaps in Property and Liability wordings are only going to widen. It s important to discuss these gaps in cover with your clients: No cover for historical pollution No cover for gradual pollution No cover for statutory clean-up costs No cover for clean-up of your own property No cover for damage to flora or fauna No cover for loss mitigation costs ACE Environmental Risk policies via ACE Online are designed to plug all these gaps. 12

pension trustee liability pension trustee liability ACE Online Pension Trustee Liability insurance addresses the considerable responsibilities placed on trustees by every decision they make. Comprehensive liability cover is vital trustees are accountable for the way they perform their duties. ACE Online s Pension Trustee Liability policy has a broad definition of wrongful acts and will pay for (amongst others) damages, judgments, expenses and defence costs, including legal representation in the event of an investigation by a regulatory body. ACE Online handles Defined Contribution schemes with assets of up to 500,000,000, and Defined Benefit and Hybrid Schemes with assets of up to 150,000,000. A maximum of five schemes can be covered at any one time and the available limits are flexible from 250,000 to 5,000,000. With ACE Online Pension Trustee Liability insurance, trustees can be assured that their assets are protected in the event of civil fines and penalties. Further extensions of cover are available upon referral to the underwriting team. 13

crime crime ACE Elite Fraud Protector covers you against direct financial loss suffered due to crime. It is a losses discovered policy. This means that for a claim to be valid the insured has to become aware of a possible loss during the policy period. (Form can be altered to FG only) Main cover includes: Internal crime direct financial loss as a result of fraud or dishonesty by employees stealing money, securities or property from you External crime third party computer crime, forgery, counterfeit, fraudulent alteration and theft Following feedback we have received, this new form clarifies some of the coverage from both a client and broker perspective. It also addresses concerns raised by AIRMIC. We have responded by removing basis clause references from the policy. This policy is aimed at UK-domiciled companies with a turnover of 250,000,000. Very few referral trades and a low deductible of 5000 per loss applies. Fees costs and expenses sub-limit offered and automatic acquisitions threshold of 15% provided. No retroactive date applied if required (premium reduction offered if retro date limitation preferred). 14

glossary glossary A&H - Accident and Health D&O - Directors and Officers XOL - Excess of Loss SME - Small Medium Enterprise DC - Defined Contribution FG - Fidelity Guarantee AIRMIC Association of Insurance & Risk Managers in Industry and Commerce UK & IE - United Kingdon and Ireland 15

Contact Us London ACE Building 100 Leadenhall Street London EC3A 3BP Central Underwriting Unit & ACE Online Tel 0845 603 1257 Diane Davidson ACE Online Manager Tel 0121 234 1118 or Mobile 07766 994351 Financial Lines Becky Wike Financial Lines Team Leader Tel 0121 234 1149 or Mobile 07766 994838 Liz Willetts Financial Lines Underwriter Tel 0121 234 1156 or Mobile 07833 255141 Simon Amos Assistant Underwriter Tel 0121 234 1179 Lorraine Hudson Assistant Underwriter Tel 0121 234 1170 Natasha Woods Assistant Underwriter Tel 0121 234 1125 Jenny Taylor Assistant Underwriter Tel 0121 234 1109 Accident & Health UK & IE SME Team 01293 726040 Alison Perkins Team Manager Tel 01293 725805 Environmental Insurance Emma Bartolo UK&I EIL Manager Tel 0207 910 7900 Chris Strong Regional EIL Manager Tel 0161 910 1836 Excess Casualty Jamie Manser Excess Casualty Team Leader Tel 0121 234 1119 or Mobile 07766 994198 Rob Kimberley Casualty Underwriter Tel 0121 234 1131 Meena Chana Casualty Underwriter Tel 0121 234 1107 Marine Insurance Craig Irvine Regional Marine Manager Tel 0113 296 1208 David Varley Marine Business Development Tel 0113 296 1225 ACE ONLINE OPERATIONS Steve Stinson ACE Online Operations Manager Tel: 0121 234 1116 Ben Herbert Underwriting Assistant for D&O and XOL Tel 0121 234 1139 Claire Cook Underwriting Assistant for D&O and XOL Tel 0121 234 1153 About ACE Group Established in 1985, The ACE Group of Companies 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 United Kingdom and Ireland, with 13 offices employing 1,300 people and serving five dedicated regions: Ireland, Scotland, North of England, Midlands and Wales, 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++ (excellent) by A.M. Best. Ref: 196UK010414 Published June 2014 ACE is authorised to underwrite business in many jurisdictions around the world. More information can be found at www.acegroup.com