ACE Catastrophe Management 2.5SM
ACE Cat Management 2.5SM is the first-of-its kind coverage endorsement specifically designed to supplement ACE’s already expansive Catastrophe Management coverage through offering additional limits to eligible insureds. The product coverage expands payments for managing threats to an insured’s reputation and other expenses directly related to catastrophic events.
Benefits:
- 24/7 toll free access to notify ACE of the event and request coverage
- Coverage for costs associated with securing the scene following a catastrophe management event, as well as affected emergency third-party funeral costs, psychological counseling costs and temporary living costs
- Emergency medical evacuation and repatriation of injured persons and two family members or other traveling companions when adequate medical facilities are not available
- Coverage for the costs of testing by an independent laboratory to determine the cause of illness or disease from contamination of food
- Coverage for the costs of the employment of engineers, scientists or other professionals for the purposes of rescue or attempted rescue
- Coverage for costs for retaining a qualified public relations or crisis communications firm, for managing reputational risk
- Coverage for travel-related costs for directors, officers and others to manage the repercussions of the catastrophic event
- Broad ACE global network capabilities with ACE-owned offices and network partners committed to ACE global standards in all major markets
- Synergy for clients who choose to purchase ESIS Catastrophe Services, the ACE Group’s industry-leading catastrophe claim administration and crisis response management service
Coverage:
- Triggered when there is a catastrophic event resulting in traumatic bodily injury or property damage that is likely to result in damages covered by the lead excess policy
- Specifically designed for clients who have a general liability attachment point of $5 million or higher
- Provides expanded catastrophe management services coverage for a maximum of 10% of a $25 million policy limit up to $2.5 million
- Requires a minimum of 10% coinsurance (insureds can select up to 50%)
- Requires a minimum premium of $50,000
- Subject to additional premium