ACE Releases Advisory on Managing Real Estate Liability Risks
PHILADELPHIA -- July 15, 2014
ACE Group today announced the release of a new advisory entitled, “Managing
Real Estate Liability Risks in a Changed Market,” which examines core risk
management concerns for commercial real estate property owners and managers.
The advisory provides a guide to some of the most volatile exposures that are
occurring in today’s market. It also discusses the importance of evaluating
these risks, reinforcing risk management strategies and assessing insurance
programs to ensure the appropriate primary and excess coverages are in place
to mitigate potential exposures.
“As the U.S. commercial real estate market improves, risk management
considerations that once had been put aside are now coming to the forefront
and should be reexamined,” said Carol Laufer, Executive Vice President, ACE
Excess Casualty. “ACE’s Excess Casualty practice has developed this advisory
to provide the industry with practical and timely information on these
immediate and developing risks. In addition to providing industry insight and
solutions on current trends, our practice is committed to offering a complete
suite of products and expertise to help manage and prepare for possible risks
The new ACE Advisory was authored by Joseph Fobert, Senior Vice President, ACE
Excess Casualty. The advisory is part of a larger series of papers that ACE
produces, which are designed to provide useful information on current industry
topics faced by risk managers.
The advisory highlights a number of key exposure areas and discusses how the
risks in some cases have become greater, while others continue to evolve.
According to Mr. Fobert, “In light of the state of today’s market and
heightened exposures, real estate companies should strengthen their risk
management efforts and also assess their insurance program to make sure that
they have the right primary and excess coverages. Working with an insurance
carrier that understands both the potential risks and the industry should be a
key component of the overall risk management strategy.”
To access the report, please visit our website. The material presented in this
report is not intended to provide legal or other expert advice. It is
presented as informational only. Readers should consult legal counsel or other
technical experts, as applicable, with any specific questions they may have.
ACE Excess Casualty, part of ACE USA, provides worldwide lead umbrella and
excess liability insurance for U.S.-based multinational companies. ACE
products are backed by substantial, financially secure capacity, and are
designed to address global catastrophe exposures. For more information, please
visit our website.
ACE USA is part of ACE Group, which 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 or follow ACE
on Twitter, at https://twitter.com/ACE_GroupNA.
ACE North America Communications
Carla L. Ferrara, 215-640-4744
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