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ACE USA Launches New Products for Hospitality and Real Estate Industries


Posted on 03 Nov 2011

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ACE USA, the U.S.-based retail operations of the ACE Group, announced the introduction of innovative, easy-to-use endorsements for ACE Umbrella policies, which are designed to address risks faced by the hospitality and real estate industries. Hotels, restaurants and commercial property owners and managers face a unique set of potentially costly liability risks and ACE’s umbrella products offer end-to-end, industry-specific insurance solutions to help protect their valuable assets.

Two new endorsements complement the ACE Umbrella PlusSM Commercial Umbrella Liability policy by expanding coverage for hotel operations and restaurants and for commercial real estate, including coverage for bodily injury and property damage occurring on and off the premises. Hotels and restaurants also receive additional coverage for certain pesticide, herbicide, fungicide, fungus, mold and bacterial conditions that are of concern to this industry segment.

“The hospitality and real estate industries face unique, often complex risks requiring tailored underwriting solutions. The breadth and depth of each of these new insurance solutions offer hospitality and commercial property managers and developers, from Main Street to multinational companies, a broad range of coverages in a single, easy-to-read endorsement,” said Carol Laufer, Senior Vice President, ACE Excess Casualty.

Key Features of ACE Excess Casualty Coverage Extension for Hospitality clients:

• Products Liability for goods consumed on the premises of restaurants
• Liquor Liability Coverage
• Revised fungi exclusion to cover fungi intended for human consumption
• Limited mold coverage for bodily injury to customers in short stay hotels (fewer than ten nights)
• Third party discrimination included as an offense under personal and advertising injury
• Garagekeeper’s Legal Liability coverage
• Coverage for sudden and accidental pollution from herbicide, pesticide and fungicide application as well as pool and spa chemicals

Key Features of ACE Excess Casualty Coverage Extension for Real Estate clients:

• Third party discrimination included as an offense under personal and advertising injury
• Garagekeeper’s Legal Liability coverage
• Coverage for sudden and accidental pollution from herbicide, pesticide and fungicide application as well as pool and spa chemicals
• Option for insured to include limited liability company engaged in similar real estate holdings
• Modified professional exclusion to cover non-structural, construction-related services

All ACE Umbrella Plus policies include Catastrophe Management coverage, which helps clients by providing advance funding directly to third-parties for managing threats to an organization’s reputation and other expenses related to a covered catastrophic event.


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