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ZURICH--(BUSINESS WIRE)--ACE Group today announced the launch of ACE Global Export Protection, a new and enhanced risk management proposition for companies in Continental Europe, as part of its strategy to support the evolving casualty needs of middle-market businesses.

The launch comes at a time when many mid-size European companies are expanding into emerging economies. According to the EU, China is now the EU’s third largest export destination while Asian markets collectively account for a third of EU exports. At the same time, the litigious US market remains the EU’s number one export destination and is shortly expected to introduce a suite of new export regulations.1

ACE’s Global Export Protection proposition provides tailored and flexible export liability coverage for companies that supply products from their manufacturing locations in Continental Europe, including Central and Eastern Europe. Cover is available for businesses with revenues of under and up to €1 billion, and for selected larger companies on a case-by-case basis. ACE’s export liability offering has been designed to meet the needs of a wide variety of industries, including heavy and light manufacturing, food and drink, and consumer goods.

As well as 24/7 emergency assistance in the event of an alleged export product incident, ACE Global Export Protection provides a unique pre-event risk management advice service, enabling companies to have pre-incident discussions with expert risk consultants that can change operational behaviours and help to produce effective crisis plans .

Key benefits of ACE Global Export Protection include:

• Worldwide jurisdiction protection, ensuring that clients are covered for any actions raised by court systems wherever they are operating, including North America.
• Vendors indemnity cover, a requirement imposed by many US distributors.
• Catastrophe management cover. ACE’s underwriters and risk engineers work together and with expert consultants red24assist, to provide advance pre-event advice and 24/7 incident assistance through ACE’s Catastrophe Management Endorsement
• Limits of up to €100 million available.
• No percentage limit on turnover for US products.
• Flexible coverage, available on either an occurrence or claims-made basis.

Country-specific offerings, tailored for each of ACE’s key markets in Continental Europe, will be rolled out in the coming months in conjunction with local ACE casualty underwriting teams.

Jeff Moghrabi, President, Continental Europe at ACE, said:

“Many middle-market businesses across Continental Europe are expanding their export footprint in the search for revenue growth. However with the many opportunities come risks.

ACE Global Export Protection has been designed to help exporters capitalise on the opportunities while navigating the liabilities with confidence, wherever they do business.”

Connie Germano, Regional Technical Manager, Casualty, at ACE in Continental Europe, said:

“ACE Global Export Protection is an innovative proposition that combines risk transfer with the strategic risk management counsel and crisis support that many middle-market companies seek when expanding overseas. Bringing the global casualty experience of our underwriting teams together with the expertise of our risk engineers and external consultants red24assist, it underlines our commitment to supporting the casualty needs of Europe’s expanding middle-market companies.”

ACE’s Continental European operation, headquartered in Paris, has a physical presence in 19 countries and benefits from the expertise of over 1,000 colleagues in 40 offices.

ENDS

About ACE:

The ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.

Visit www.acegroup.com/eu

1 European Commission, Eurostat, ‘Extra-UE trade in goods’, July 2012

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