ACE To Cover Hartford Overseas Risks

NU Online News Service, Oct. 3, 2:18 p.m.EST?The Hartford Financial Services Group announced it hasentered into a strategic alliance with ACE American InsuranceCompany, one of the ACE Group of Companies, to provide TheHartford's U.S.-based business customers with insurance protectionfor international operations and risks.

Effective immediately, The Hartford said it is now offeringInternational Advantage, an ACE American insurance policy, whichincludes a full range of coverages such as general liability,property and foreign voluntary workers' compensation in a singleinternational contract.

"This arrangement with ACE enables us to provide for theU.S.-based businesses' non-U.S. coverage needs in a way that willbe easy and seamless for the agent and customer," said DougRothwell, business insurance project manager at The Hartford, basedin Connecticut.

Under the agreement, The Hartford said it will acceptapplications, gather additional underwriting information, andhandle billing and payments for non-U.S. policies, just as it doesfor domestic policies.

The Hartford also will handle underwriting and issue ACEpolicies in jurisdictions that allow non-admitted coverage. Injurisdictions that allow only admitted coverage, ACE will handleunderwriting and pricing after referral from The Hartford.

Either way, The Hartford said, the agent and customer will dealwith a single insurer. The single exception is internationalclaims, which will be handled directly by ACE.

The arrangement is set up to handle U.S.-based clients with avariety of international needs, from the occasional businesstraveler to the operations and buildings of an overseas subsidiary,Mr. Rothwell explained.

The coverage includes risks related to participation ininternational exhibitions or trade shows, sponsoring trips, toursor study groups abroad, and even advertising and selling productsover the Internet to people in foreign countries.

The product is initially being marketed to midsized companies,but can be used for small and larger companies as well.

ACE American Insurance Company is part of the ACE Group ofCompanies, Hamilton, Bermuda, headed by ACE Limited. The ACE Groupof Companies provides insurance and reinsurance for a diverse groupof clients around the world. Additional information can be found atwww.acelimited.com.and www.thehartford.com