PHILADELPHIA--(BUSINESS WIRE)--ACE Group today announced the release of a new advisory entitled, “Managing Real Estate Liability Risks in a Changed Market,” which examines core risk management concerns for commercial real estate property owners and managers. The advisory provides a guide to some of the most volatile exposures that are occurring in today’s market. It also discusses the importance of evaluating these risks, reinforcing risk management strategies and assessing insurance programs to ensure the appropriate primary and excess coverages are in place to mitigate potential exposures.
“As the U.S. commercial real estate market improves, risk management considerations that once had been put aside are now coming to the forefront and should be reexamined,” said Carol Laufer, Executive Vice President, ACE Excess Casualty. “ACE’s Excess Casualty practice has developed this advisory to provide the industry with practical and timely information on these immediate and developing risks. In addition to providing industry insight and solutions on current trends, our practice is committed to offering a complete suite of products and expertise to help manage and prepare for possible risks and exposures.”
The new ACE Advisory was authored by Joseph Fobert, Senior Vice President, ACE Excess Casualty. The advisory is part of a larger series of papers that ACE produces, which are designed to provide useful information on current industry topics faced by risk managers.
The advisory highlights a number of key exposure areas and discusses how the risks in some cases have become greater, while others continue to evolve. According to Mr. Fobert, “In light of the state of today’s market and heightened exposures, real estate companies should strengthen their risk management efforts and also assess their insurance program to make sure that they have the right primary and excess coverages. Working with an insurance carrier that understands both the potential risks and the industry should be a key component of the overall risk management strategy.”
To access the report, please visit our website. The material presented in this report is not intended to provide legal or other expert advice. It is presented as informational only. Readers should consult legal counsel or other technical experts, as applicable, with any specific questions they may have.
ACE Excess Casualty, part of ACE USA, provides worldwide lead umbrella and excess liability insurance for U.S.-based multinational companies. ACE products are backed by substantial, financially secure capacity, and are designed to address global catastrophe exposures. For more information, please visit our website.
ACE USA is part of ACE Group, which is one of the world’s largest multiline property and casualty insurers. With operations in 54 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 ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at www.acegroup.com or follow ACE on Twitter, at https://twitter.com/ACE_GroupNA.