Professional Risk

Nuts & Bolts: Philadelphia-based insurance group ACE USA introduced its new ACE Advantage(SM) suite of management liability, and errors and omissions insurance products. The new ACE Advantage management liability insurance products provide executives with the protection they need in four new policies: (1.) Directors’ and Officers’ Liability Policy—provides directors and officers with management liability protection. (2.) Side A Directors’ and Officers’ Liability Policy—provides executives coverage for loss for which they do not receive indemnification from their company, and which is not otherwise insured on account of policy exhaustion, rescission, warranty breach, restatement exclusion, or attachment by a court in a bankruptcy. (3.) Directors’ and Officers’ Liability Policy for Companies in Bankruptcy—provides protection to executives in organizations undergoing reorganization, so that they are less hindered by acts and claims prior to bankruptcy. (4.) General Partners’ Liability Policy—provides management liability protection to executives of general partnerships. These new products complement the existing array of management liability products offered by ACE USA, including the Insurance Company Professional Liability Policy; the Mutual Fund, Investment Advisor and Service Provider Professional Liability Policy; and the Securities Broker-Dealer Professional Liability Policy. The new ACE Advantage errors and omissions insurance products provide coverage for public officials, school officials, architects and engineers, and digital technology professionals. These products expand upon the current errors and omissions policies offered by ACE Professional Risk, such as the Logistics Professional Liability Policy and the Miscellaneous Professional Liability Policy, which protects professionals in over 100 types of businesses.

Carrier: ACE.

States Available: All

Contact: www.aceprofessionalrisk.com