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Member, Beacon International Group, Ltd.
NEW YORK—ACE Risk Management, part of ACE USA, has announced a new initiative for multiple risk management buyers in need of a single captive reinsurer.
The Multiple-Insured Captive Reinsurance Alternative program includes primary casualty coverage for automobile liability, general liability and workers’ compensation lines.
“The challenge for multiple-insured captives is to access an underwriting team with extensive experience in captive programs and the flexibility to tailor coverage,” said Rick Wagner, senior vp of New York-based ACE Risk Management, in a statement. “That’s not easy, but ACE Risk Management has a long history of focusing on long-term partnership, best practices, and timely funds management, to meet the contractual needs of these captives.”
The service is intended for companies with a more than five-year-old captive and preferably 20 or fewer insureds with similar, related or integrated organizations. A maximum coverage of $5 million is available for general and automotive liability, and workers compensation will meet statutory capacity. It will also accommodate noncaptive primary casualty lines within the overall program.
There is a minimum of $250,000 per occurrence captive retained amount and $2.5 million gross written premium.
For more information, contact Mr. Wagner at 415-547-4427 or Rick.Wagner@acegroup.com.