Ace Ltd. has launched a global directors and officers liability insurance proposition for multinational organizations.
The coverage, Ace 2488 Global D&O™, allows Ace to issue policies on behalf of its syndicate 2488 at Lloyd's of London directly in the U.S. and Bermuda, the insurer said in a statement Wednesday.
The new product streamlines the need to manage multiple global policies, according to the statement.
The addition of Lloyd's coverage through Ace syndicate 2488 to Ace's existing suite of D&O insurance allows Ace to provide coverage in more jurisdictions, according to the statement.
Ace also has service company coverholder status with Lloyd's, which gives Ace binding authority to issue policies on behalf of Ace's syndicate 2488 directly in the U.S. and Bermuda, the insurer said.