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ACE Recreational Marine Introduces Savings Opportunity for Owners Who Ensure Boat Safety During Severe Storms



  ACE Recreational Marine Introduces Savings Opportunity for Owners Who Ensure
  Boat Safety During Severe Storms

Business Wire

PHILADELPHIA -- February 5, 2014

With the devastation of Superstorm Sandy still fresh in the minds of boat
owners, many on the Atlantic and Gulf Coasts have sought affordable ways to
protect their vessels in the event of another severe storm. ACE Recreational
Marine, one of the nation’s largest recreational marine insurance providers,
and part of ACE Group, today announced the introduction of a unique optional
endorsement that waives coverage for storm surge damage for those boat owners
who are willing to move their vessels out of harm’s way, and rewards them with
a potentially substantial reduction in their insurance premium.

“Owners who keep their boats on coastal waters from Maine through Texas will
save the most with this new option,” said Damon R. Hostetter, Senior Vice
President, ACE Recreational Marine. “We foresee our optional Storm Surge
Exclusion endorsement appealing to boat owners who are passionate about their
boats, and willing to move their vessels beyond the reach of a storm surge,
waves or high tidal waters caused by a severe storm. In return, they can enjoy
an opportunity to save what could be a considerable amount of premium
dollars.”

Conscientious boat owners have a number of methods for preventing damage from
storm surges. When size allows, they can keep their boat on a trailer and
drive it to a safe location. They can also store a smaller boat in
“high-and-dry” storage, or make arrangements for their watercraft to be hauled
ashore at a facility with sufficient elevation to be beyond the reach of a
storm surge. Owners of larger vessels may have a captain and crew to navigate
their yachts out of an approaching storm’s path. By addressing the risk of
damage from storm surges in advance, these boat owners can feel more
comfortable excluding the coverage in their policy, thus reducing their
premiums. This distinctive insurance option is yet another example of ACE
continuing to lead the way in offering highly tailored protection to families
and individuals who own boats, homes, and other tangible assets.

ACE also offers free preparation guides for “Hurricanes and Severe Storms,”
along with “Hurricane Preparation Tips for Boaters,” which include detailed
recommendations for owners of trailerable and non-trailerable boats to
undertake prior, during and after a storm. Please visit
www.acemarineinsurance.com for additional information.

ACE Recreational Marine Insurance, part of the ACE Private Risk Services
business of ACE Group, has been serving marine clients for more than 200
years, since 1792 when its predecessor company wrote the very first marine
insurance policy issued in the United States. ACE offers exceptional all-risk
insurance coverage to protect the entire spectrum of pleasure yachts and
boats, including cruisers, luxury mega-yachts and sailboats, sport fishing
boats, classic and vintage vessels, ski boats, personal watercraft and select
charter vessels. Product highlights are summaries only; please see actual
policy for terms and conditions. Products may not be available in all states.

About ACE Private Risk Services

ACE Private Risk Services is ACE Group’s high-net-worth personal insurance
business, which provides specialty coverage for homeowners, automobile,
recreational marine, umbrella liability and collections insurance for
individuals and families with emerging and established wealth. Policies are
issued by Bankers Standard Insurance Co., Atlantic Employers Insurance Co.,
and ACE Insurance Co. of the Midwest. Additional information can be found at:
www.aceprs.com. ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 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 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
Media Contact:
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com
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