ACE Limited : ACE Private Risk Services and Generac Launch Program to Help Homeowners Minimize Damage and Disruption Due to Extended Power Outage
05/31/2012| 03:20pm US/Eastern
Program Encourages Installation of Automatic Standby Generator Via
Insurance Premium Discounts and Free Installment Consultation
ACE Private Risk Services, the high net worth personal insurance
business of the ACE Group, and Generac Power Systems, a market-leading
manufacturer of generators and engine powered products, today announced
a program to help ACE clients minimize potential disruptions to their
lives and significant damage to their home due to power outages. The
program is first being introduced in New York, New Jersey, and
Connecticut -- states that suffered significant damage in 2011 from
Hurricane Irene and the late-October snowstorm.
To encourage the installation of automatic standby generators, ACE
Private Risk Services offers up to a five percent discount on its
homeowners insurance policy premium. With the introduction of this
program, participating Generac dealers will visit an ACE client's home
and perform a free installation consultation. Additionally, Generac is
offering a free five-year extended warranty to ACE clients who purchase
a generator by July 31, 2012, and then complete installation by
September 30, 2012.
"Last year many of our clients had to abandon their homes, watch
basements flood, let food and expensive wine collections spoil, and
leave precious artwork and other valuables unguarded due to power loss
lasting more than a week after Hurricane Irene and the late-October
snowstorm," said Gary Raphael, Senior Vice President, Risk Consulting at
ACE Private Risk Services. "Those who had automatic standby generators
fared much better because their sump pumps, heating and cooling systems,
and alarm systems kept working. People often forget how much their homes
depend on power."
Generac's automatic standby generators provide an auxiliary source of
electricity that operates during a power outage, whether the family is
home or away. Within seconds of an outage, it automatically supplies
power directly to the home's electrical circuit breaker box. After
utility power returns, the generator shuts itself off and waits for the
next outage. The system operates on natural gas or liquid propane gas
and sits outside the home, just like a central air conditioning unit.
"The automatic nature of the standby generator is very important for our
clients, because they tend to travel a lot and have multiple homes,"
noted Mr. Raphael. "If the power goes out while they are away, they
don't have to worry about the failure of critical systems that protect
To take advantage of the program, ACE Private Risk Services' clients
with homes in New York, New Jersey and Connecticut should call
1-888-GENERAC (436-3712) and identify themselves as an ACE client. They
will be connected with the nearest participating Generac dealer, who
will visit the home to evaluate the size of the generator required, the
best location for the generator, and the cost of installation.
About Generac (NYSE: GNRC)
Since 1959, Generac has been a leading designer and manufacturer of a
wide range of generators and engine powered products. As a leader in
power equipment serving residential, light commercial, industrial and
construction markets, Generac's power products are available through a
broad network of independent dealers, retailers, wholesalers and
equipment rental companies. The company markets and distributes its
products primarily under its Generac and Magnum brand names. For more
information on Generac and its product line, visit www.generac.com.
About ACE Private Risk Services
ACE Private Risk Services is the 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. and ACE
Insurance Co. of the Midwest. Additional information can be found at: www.aceprs.com.
The ACE Group is one of the world's largest multiline property and
casualty insurers. With operations in 53 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 the
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.
ACE North America Communications
Carla Ferrara, 215-640-4744
© Business Wire 2012