ACE Launches New Stand-Alone Product Recall Insurance Unit; Appoints Florian Beerli to Lead Initiative

  ACE Launches New Stand-Alone Product Recall Insurance Unit; Appoints Florian
  Beerli to Lead Initiative

Business Wire

PHILADELPHIA -- June 26, 2012

ACE Westchester, the U.S.-based wholesale-focused insurance division of the
ACE Group, today announced that it has introduced a new stand-alone product
recall underwriting unit, which will deliver insurance products to respond to
the increased risks associated with product recalls.

Florian Beerli will serve as Senior Vice President, Product Recall
Underwriting for Insurance-North America, with overall responsibility for
delivering integrated insurance solutions in North America that are
specifically structured to meet the unique insurance needs related to product
recalls. He will be based in Woodbridge, CT, and report to Bruce Kessler,
Division President, ACE Westchester. He will work with the ACE branches
throughout the country to deliver the full range of crisis management services
and first-party product recall insurance for consumable products, consumer
goods, component parts, and food borne illness for restaurants.

“The exposures related to product recalls have become an ongoing occurrence in
many industries, not just the food and beverage industry, and they pose a
significant liability for a company’s balance sheet and overall brand
reputation,” said Mr. Kessler. “The new ACE Westchester product recall
offering can tailor coverage based on the unique needs of customers. Our
research of the product recall market has demonstrated that the magnitude of
the problem continues to grow, and there is a real need for a product that can
mitigate the financial disruption caused by recalls.”

Additionally, this new product offering will offer reimbursement costs for
product recalls and covered third-party expenses associated with consultants,
as the result of claims arising from the product recall.

“I’m pleased to welcome Florian to ACE,” added Mr. Kessler. “His proven
success and experience in providing insurance solutions and crisis management
services in the product recall arena makes him well-positioned to lead this
new unit.”

With more than 20 years of insurance industry experience, with particular
emphasis in crisis management, Mr. Beerli joined ACE from Crum & Forster,
where he served as Vice President, Crisis Management. He also previously
headed up the Crisis Management Division for Catlin U.S., and held a senior
underwriting position at American International Group (AIG) in its Crisis
Management Unit. Mr. Beerli received a business degree in insurance from the
Business School of Schaffhausen in Switzerland.

The new ACE Westchester product recall product offering is underwritten and
provided by insurance companies within the ACE Group. All products may not be
available in all jurisdictions. Surplus lines insurance is sold through
licensed surplus lines brokers only. The product information above is a
summary only. The insurance policy actually issued contains the terms and
limits of the contract. For more information regarding the ACE Westchester
product recall offering, please contact Florian Beerli at
florian.beerli@acegroup.com or (678) 234-8885.

ACE Westchester is the U.S.-based wholesale-focused operation of the ACE
Group. 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 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.

Contact:

ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com