ACE Launches New Insurance Solution for Oil and Gas Industry Contractors and Suppliers

  ACE Launches New Insurance Solution for Oil and Gas Industry Contractors and
  Suppliers

          “ACE Offshore” will include market leading pollution cover

Business Wire

LONDON -- November 20, 2013

ACE Group today announced the launch of a new insurance solution for
contractors and suppliers as it expands its offering to the offshore oil and
gas sector. “ACE Offshore”, which has been enhanced in response to direct
feedback from companies operating in the sector, provides comprehensive
protection to these businesses and now includes market-leading pollution
cover.

Exploration and production companies have traditionally retained the pollution
risk; however contract terms requiring contractors to bear a portion of this
risk are increasingly common. ACE Offshore responds directly to this need for
contractors’ pollution cover and offers environmental impairment liability
insurance to this important part of the offshore oil and gas industry.

In addition to this innovative pollution cover, ACE Offshore provides
contractors and suppliers to the offshore oil and gas industry a number of
enhanced features, including:

  *Accident & Health cover for post-traumatic stress disorder suffered
    following an accident offshore
  *Legal expertise, including a contract review with a professional from a
    leading offshore law firm, designed to guide clients through the complex
    area of oil and gas contract indemnity clauses
  *Multinational cover through ACE’s operations in 53 countries worldwide

Mark Roberts, UK & Ireland Casualty Manager, at ACE, said:

“We have been working with the offshore oil and gas industry for decades and
we understand the challenges, frustrations and ever-changing set of risks it
faces. Our enhanced ACE Offshore product, and in particular its new pollution
cover, is a great example of how we are leading the way in developing
pragmatic solutions to the evolving risk environment the industry faces.”

David Robinson, Regional President, UK & Ireland at ACE, said:

“It is now a year since we established an operation in Aberdeen, the centre of
the UK’s oil and gas industry. Our local branch manager Jim Rutherford and his
team have been instrumental in gathering the direct feedback from brokers and
customers and working with ACE colleagues locally and throughout our global
network of expertise, to provide the right cover for this crucial sector of
our economy.”

About ACE:

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 and 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.

ACE UK & Ireland’s five regions are:

∙ Ireland (Dublin and Belfast) ∙ Scotland (Glasgow, Aberdeen) ∙ The North
(Leeds, Manchester, Newcastle) ∙ Midlands (Birmingham) ∙ London and South East
(London, Maidstone, Reading, Watford)

Additional information can be found at: www.acegroup.com/uk

Contact:

ACE
Celine Lachevre
Marketing Manager (PR & Events)
020 7173 7489
Celine.lachevre@acegroup.com
or
Juliet Massey
Communications Manager EMEA
020 7173 7793
Juliet.massey@acegroup.com
 
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