PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operations of the ACE Group, today announced the release of an updated Marine Open Cargo Policy. The new policy consolidates multiple coverage components into one form, which provides concise policy language that is both easy to read and consistent across all coverage regions.
The updated Marine Open Cargo Policy incorporates multiple coverage endorsements in a single form, including standardized clauses, and has a single declarations page. All marine open cargo clients – from those who only ship a few times a year, to the multinational clients who ship hundreds of times a year – can now see a concise overview of their coverage and policy limits. Multinational clients will benefit further from ACE’s strong international network, with its ability to write local policies around the world, all of which are controlled by a single master policy.
“ACE’s new marine cargo policy shows our ongoing commitment to risk managers serving clients with cargo exposures,” said Karen Griswold, Senior Vice President, ACE Commercial Marine. “We have incorporated multiple coverage components into a single form, rather than endorsing individual policies, which makes it easy for policyholders to have a clear picture of their coverage.”
Benefits available through the updated Marine Open Cargo Policy include:
Insurance is provided by insurance companies within the ACE Group. All products may not be available in all jurisdictions. The product information above is a summary only. The insurance policy actually issued contains the terms and limits of the contract.
ACE Commercial Marine, part of ACE USA, delivers tailored insurance services for shippers, vessel builders and marine facility owner, covering clients ranging from multinational logistics provides with assets in ports worldwide to national boat manufacturers and small yacht clubs. For more information about these products, visit our website.
ACE USA is the U.S.-based retail operating division of the ACE Group, headed by ACE Limited, and is rated A+ (Superior) by A.M. Best Company and A+ (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. 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 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.