PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group, today announced a new enhancement to its industry-leading Directors & Officers Liability Policy. In ACE’s continuing effort to help policyholders mitigate and manage the rising expense of securities litigation, the company has introduced a non-mandatory panel counsel option. The ACE Preferred Securities Panel consists of nationally-recognized law firms that were chosen due to their experience and expertise in handling complex securities litigation across many jurisdictions and industries.
Selecting a firm from the ACE Preferred Securities Panel to defend a securities claim provides policyholders with a 25 percent securities retention discount up to a maximum of $500,000. “Nearly every industry can be affected by litigation against its management team, board of directors and the company. Securities litigation becomes very costly for companies and can distract the management team’s focus away from its business,” said Robert Wolfe, Senior Vice President, ACE Professional Risk. “With the potential for liability mounting, selecting the right defense counsel is paramount. It is with this in mind, that we are proud to introduce the ACE Preferred Securities Panel.”
Insurance is provided by insurance companies within the ACE Group or its allied distribution associates. Product highlights are summaries only, please see actual policy for terms and conditions.
Products may not be available in all locations and remain subject to ACE Professional Risk’s underwriting criteria.
ACE Professional Risk, a division of ACE USA, is staffed by a specialized team of innovative underwriters and provides management liability, professional liability, and surety products throughout the U.S. For more information the ACE Preferred Securities Panel, 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 and 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.
ACE North America Communications
Carla Ferrara, 215-640-4744