E-Risk
Services Forms a Strategic Alliance With
ACE USA Professional Risk
Frequently Asked Questions
ACE USA Professional Risk
Frequently Asked Questions
- Why has E-Risk moved their program from Lloyds, London to ACE USA?
- Why has E-Risk partnered with ACE USA?
- On what type of filing basis will E-Risk offer their products through ACE USA?
- How will E-Risk's product offering change under this new arrangement?
- How will claims be handled under the new partnership with ACE USA?
- How will filed and new claims be handled with Lloyd's, London on existing policies?
 |
Why has E-Risk moved their program from Lloyds, London to ACE USA? Simply put, a strategic partnership with ACE USA compliments our long-term distribution and growth strategies. A domestic issuing carrier with a strong A.M. Best rating is absolutely critical to developing and cultivating our wholesale relationships across the country. From an overall market perspective, we felt that the timing was right to form a strategic alliance with a domestic issuing carrier allowing us to continue to offer the best management liability insurance packaged product in our market segment.
Why has E-Risk partnered with ACE USA? ACE USA represented the best opportunity to compliment our product portfolio, distribution channels, current client mix and underwriting philosophy. In addition, we were able to secure a multi-year commitment from ACE USA to support our program. On what type of filing basis will E-Risk offer their products through ACE USA? All of our products will be on a surplus lines basis, except for Minnesota. Our products will be on an admitted basis in Minnesota. How will E-Risk's product offering change under this new arrangement? There will be no changes to our product offering, except that the optional extension period will go from one (1) year at 50% to one (1) year at 100%. In addition, we will no longer have a mono-line minimum premium requirement of $3,500, however, there will be a $2,000 minimum premium requirement on mono-line Crime coverage. How will claims be handled under the new partnership with ACE USA? ACE USA will handle all claims for policies bound on their issuing carriers. E-Risk will work closely with ACE USA in the claims process. How will filed and new claims be handled with Lloyd's, London on existing policies? Lloyd's, London will handle these claims in the same manner as before this change. E-Risk will continue to be involved in these situations on an as needed basis.
Copyright
© 2002 E-Risk Services.