ACE USA Launches New Products for Hospitality and Real Estate Industries

ACE USA, the U.S.-based retail operations of the ACE Group, today announced the introduction of innovative, easy-to-use endorsements for ACE Umbrella policies, which are designed to address risks faced by the hospitality and real estate industries. Hotels, restaurants and commercial property owners and managers face a unique set of potentially costly liability risks and ACE’s umbrella products offer end-to-end, industry-specific insurance solutions to help protect their valuable assets.

Two new endorsements complement the ACE Umbrella Plus^SM Commercial Umbrella Liability policy by expanding coverage for hotel operations and restaurants and for commercial real estate, including coverage for bodily injury and property damage occurring on and off the premises. Hotels and restaurants also receive additional coverage for certain pesticide, herbicide, fungicide, fungus, mold and bacterial conditions that are of concern to this industry segment.

"The hospitality and real estate industries face unique, often complex risks requiring tailored underwriting solutions. The breadth and depth of each of these new insurance solutions offer hospitality and commercial property managers and developers, from Main Street to multinational companies, a broad range of coverages in a single, easy-to-read endorsement,” said Carol Laufer, Senior Vice President, ACE Excess Casualty.

Key Features of ACE Excess Casualty Coverage Extension for Hospitality clients:

• Products Liability for goods consumed on the premises of restaurants
• Liquor Liability Coverage
• Revised fungi exclusion to cover fungi intended for human consumption
• Limited mold coverage for bodily injury to customers in short stay hotels (fewer than ten nights)
• Third party discrimination included as an offense under personal and advertising injury
• Garagekeeper’s Legal Liability coverage
• Coverage for sudden and accidental pollution from herbicide, pesticide and fungicide application as well as pool and spa chemicals

Key Features of ACE Excess Casualty Coverage Extension for Real Estate clients:

• Third party discrimination included as an offense under personal and advertising injury
• Garagekeeper’s Legal Liability coverage
• Coverage for sudden and accidental pollution from herbicide, pesticide and fungicide application as well as pool and spa chemicals
• Option for insured to include limited liability company engaged in similar real estate holdings
• Modified professional exclusion to cover non-structural, construction-related services

All ACE Umbrella Plus policies include Catastrophe Management coverage, which helps clients by providing advance funding directly to third-parties for managing threats to an organization’s reputation and other expenses related to a covered catastrophic event.

ACE Excess Casualty, a unit of ACE USA, specializes in lead umbrella and excess liability products for a broad range of risk sizes and industry classes, which are primarily distributed through the retail brokerage community to the commercial market. Insurance is provided by ACE Property and Casualty Insurance Company, Philadelphia, PA, or in some jurisdictions, other insurance companies in the ACE Group. Product highlights are summaries only; please see the actual policy for terms and conditions. To learn more about ACE Excess Casualty’s Endorsements for Hospitality and Real Estate Risks please visit our website.

ACE USA is the U.S.-based retail operating division of the ACE Group, and is rated A+ (Superior) by A.M. Best Company and AA- (Very Strong) by Standard & Poor’s. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at: www.acegroup.com/us-en. The ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acegroup.com.