ACE USA Launches Product for Texas Non-Subscribers
ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the expansion of its Occupational Accident product offering to now include employer liability coverage for Texas employers who have opted not to provide workers’ compensation insurance to their employees under the state workers compensation system.
Texas is the only state that allows private employers to opt out of the state’s workers’ compensation system. An employer who elects not to participate in the state program is called a non-subscriber. According to the data released by the Texas Department of Insurance Workers Compensation Research Group in October 2004, (www.tdi.state.tx.us/company/roc/wcresearchhome.html) 38 percent of all Texas businesses are non-subscribers. This number is increasing.
“We are pleased to give Texas employers a cost-effective and innovative alternative to the state workers compensation system,” said Joe Vasquez, executive vice president of ACE Accident & Health. “Our Primary Employer Indemnity product offers this coverage to the small and mid-size employers who opt out of the state program, but wish to reduce the potentially catastrophic financial impact of occupational injuries on their bottom line.”
In addition to traditional occupational accident coverage, ACE’s Primary Employer Indemnity product now provides protection for the policyholder in the event an employee sues for workplace negligence as the cause of an occupational accident. Benefits include amounts paid to obtain a release of liability, to settle a claim, to pay a judgment, or to reasonably defend, mediate or arbitrate a claim.
ACE offers flexible limits and plan options so employers can design a plan of benefits that best meets their needs. “Under a properly designed plan, an employer can realize substantial savings on occupational-related injury claims,” explains Carol Adams, senior vice president of ACE USA Accident & Health. “ACE’s Primary Employer Indemnity product offering is designed to give employers reliable insurance protection while helping them to make their businesses safer places to work.” ACE’s experienced claim administrators work with employers to manage claims and to help control exposure, claim costs and the lost productivity associated with job-related accidents.
ACE Accident & Health is committed to delivering a wide range of insurance products–from traditional employer accident programs to specialty coverages for various types of groups and their members. These products help to protect against the serious financial consequences of a sudden injury or illness.
ACE USA Accident & Health Key Products:
— Corporate Accident and Global Medical products.
— Special Risk Products for schools and other participant groups.
— Limited benefit plans and managed care carve out products.
To learn more about ACE USA Accident & Health’s products and services, visit www.aceaccidentandhealth.com.
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