ACE Releases First Dollar Defense Endorsement for Contractors Pollution Liability Coverage

PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group, today announced the release of the ACE First Dollar Defense Endorsement for Contractors Pollution Liability (CPL) coverage. This new offering – designed to alleviate contractors’ and consultants’ growing concerns regarding escalating defense costs – provides financial support for contractors facing litigation and defense costs for pollution incidents that occur during work they perform at a job site.

Because defense costs can have a significant detrimental impact on a company’s operations, the ACE First Dollar Defense Endorsement pays for legal representation from the first dollar billed. This removes the financial burden contractors and consultants face when paying self-insured retentions under their CPL policies, and it provides critical support for the ongoing successful operations of their companies.

“In this economy, we’ve seen a significant rise in litigation and, as a result, our clients are increasingly pressured to cover higher defense costs,” said William P. Hazelton, Executive Vice President, ACE Environmental Risk. “We created this endorsement to provide financial relief and help alleviate this escalating burden, as well as to offer other value added services to assist our clients who may be inexperienced in the selection of appropriate counsel for legal actions specific to environmental or construction-related matters.”

“Litigation costs can be exorbitant,” added Gerry Rojewski, Vice President and National Product Line Manager, ACE Environmental Risk. “In the current economy, our construction and consulting clients face declining revenues while having greater difficulty winning bids for new projects. Due to the resulting decrease in revenues, many clients don’t have the luxury of funding the extra costs associated with lawsuits or other matters that require the retention of counsel to solve pollution-related exposures. When a client has to pay a substantial amount of money on defense-related items, it can be detrimental to their balance sheet and to the operation of their business. This endorsement provides critical support for these concerns and potential exposures.”

Key benefits of ACE’s First Dollar Defense Endorsement include:

  • Immediate financial support to provide legal representation for policyholders with a self-insured retention of $50,000, or less
  • Immediate access to ACE Environmental Risk’s professional resources, including claim specialists and experienced environmental and construction counsel
  • Coverage available for work performed on behalf of the named insured, as well as for owned or leased locations
  • No exclusions for construction defects or water intrusion
  • Property damage definition includes natural resource damages
  • Responsive underwriting staff with strong expertise in providing environmental risk solutions
  • Dedicated environmental claims specialists

Insurance is provided ACE American Insurance Company, Philadelphia, PA, and, in some jurisdictions, other insurers within the ACE Group. Product descriptions are summaries only. The actual policy issued governs the rights and obligations of the parties. Not all products are available in all states.

ACE Environmental Risk, an ACE USA business unit and part of the ACE Group, offers a full range of environmental liability solutions designed to minimize bottom-line impacts, and provide hands-on management for those liabilities. For more information about ACE Environmental Risk and its range of products and services, please visit our website.

ACE USA is the U.S.-based retail operating division of the ACE Group, and is rated A+ (Superior) by A.M. Best Company and AA- (Very 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. Additional information can be found at:www.acegroup.com

 

Contact:

ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com