ACE Limited : ACE Enhances Key Environmental Coverage for Aboveground and Underground Storage Tanks with ACE TankSafe Policy
02/08/2012| 05:40pm US/Eastern
The ACE Group today announced the introduction of an enhanced
easy-to-use ACE TankSafe® program that streamlines
environmental coverage for owners and operators of aboveground and
underground storage tanks.
Companies and organizations that own or operate storage tanks of all
sizes in diverse industries face significant pollution risks and often
must satisfy federal and/or state requirements to demonstrate financial
responsibility. These industries include healthcare facilities,
municipalities, educational institutions, auto dealerships, gas
stations, and convenience stores, as well as airports, marinas,
commercial and industrial facilities, and manufacturing plants.
The enhanced ACE TankSafe program leads the insurance industry by
combining aboveground and underground coverage in a single policy,
provided on an admitted basis in forty-eight (48) jurisdictions within
the United States. This coverage is available to tank owners, operators
and their brokers through an innovative online process that simplifies
the steps required for obtaining coverage, from submission through
policy and financial responsibility certificate issuance.
"Storage tank owners and operators, from small businesses to the largest
operations, face growing public awareness and broader environmental
regulations. Our enhanced ACE TankSafe program addresses their need to
manage their aboveground and underground storage tank coverage with an
integrated solution," said William P. Hazelton, Executive Vice
President, ACE Environmental Risk. "We are pleased to continue our
commitment to serve the unique environmental needs of this community
with a simplified, affordable and readily available solution."
"The single combined ACE TankSafe policy is a cost-effective response.
It builds on the ACE TankSafe offering we launched in 2003 and is
available through a proprietary online platform. With a minimum premium
as low as $350 and limits up to $5 million aggregate, ACE TankSafe is
designed to address the needs of every aboveground and underground
storage tank operation," said Stela T. Flanagan, Assistant Vice
President, Environmental, ACE Commercial Risk Services.
Key Features of the ACE TankSafe program include:
Coverage for third party bodily injury and property damage claims
resulting from storage tank incidents that involve scheduled storage
Coverage for corrective action costs resulting from storage tank
incidents that involve scheduled storage tanks
Available on an admitted basis in forty-eight (48) jurisdictions
Instant online certificate issuance that satisfies federal and/or
state requirements for storage tank financial responsibility
Electronic account management
Experienced underwriters for large, unique storage tank risks, or
storage tanks installed prior to 1975 that require tailored solutions
Dedicated claims specialists
Customized storage tank Compliance and Program Management , available
through ESIS Health, Safety and Environmental Services, including site
closure, remedial design and implementation and Spill Prevention
Control and Countermeasures (SPCC) Plans
To learn more about the ACE TankSafe program, and other ACE
Environmental Risk products and services, please visit
our website. To learn more about ACE Commercial Risk Services and
their offerings tailored to the small business market, including ACE
TankSafe, please visit
our website. To learn more about obtaining a quote, please access
TankSafe online platform.
ACE Environmental Risk, an ACE USA business unit and part of the ACE
Group, offers a full range of environmental liability solutions designed
to minimize bottom-line impacts, and provide hands-on management for
those liabilities. ACE Commercial Risk Services is an operation within
the ACE Group that is dedicated to providing specialty insurance
products that offer solutions for small business insurance needs in
North America. ESIS® Inc. ('ESIS') is part of the ACE Group, providing
claims and risk management services to a wide variety of commercial
clients. Insurance is provided by insurers within the ACE Group.
The product information above is a summary only. The insurance policy
actually issued contains the terms and conditions of the contract. All
products may not be available in all states. Surplus lines insurance
sold only through licensed surplus lines producers. ESIS risk control
services may be sold directly to ESIS's clients, or part of insurance
underwriting. Risk control activities conducted on behalf of the insurer
are not intended as a direct benefit or service to ACE.
The ACE Group is a global leader in insurance and reinsurance serving a
diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component
of the S&P 500 stock index, the ACE Group conducts its business on a
worldwide basis with operating subsidiaries in more than 50 countries.
Additional information can be found at: www.acegroup.com.
ACE North America Communications
Carla Ferrara, 215-640-4744
© Business Wire 2012