ACE USA Professional Risk today announced it has formed a strategic alliance, effective January 1, 2002, with E-Risk Services, LLC, a Managing General Agent. Under the terms of the agreement, ACE USA Professional Risk will utilize E-Risk Services to market, underwrite and service its private company directors' and officers' liability coverage and related products. The strategic alliance will serve to complement and enhance ACE USA's current capabilities in the management and professional liability coverage areas.
ACE USA Professional Risk is a market leader in diversified management protection products, with a concentration on both publicly traded and large, privately held corporations. ACE USA Professional Risk remains committed to underwriting and servicing this class of business. E-Risk will provide ACE USA Professional Risk with additional resources to service privately held corporations. Through E-Risk, ACE USA Professional Risk can offer private company directors' and officers' liability coverage, with additional coverage options for employment practices liability, crime, fiduciary and miscellaneous errors and omissions.
"We are excited about our partnership with E-Risk Services, as it should serve to enhance ACE USA Professional Risk's intended growth of the middle-market segment for management and professional liability," explained David Lupica, senior vice president, ACE USA Professional Risk. "E-Risk Services has an excellent reputation as a quality partner in the underwriting and management of private company management and professional liability coverage. We look forward to working with them to complement our current product and client mix."
"E-Risk is a market leader and innovator in providing management liability coverage to privately held companies," commented Paul Tomasi, president and founder of E-Risk Services, LLC. "Forming this strategic alliance with ACE USA Professional Risk provides us with a strong platform from which to continue to offer the best management liability series of products and services to our segment of the industry."
ACE USA Professional Risk is a division of ACE USA. ACE USA, headquartered in Philadelphia, is the U.S.-based operating division of the ACE Group of Companies, headed by ACE Limited (NYSE: ACE). ACE USA provides insurance products and services through the U.S. operating subsidiaries. ACE USA is rated "A" (Excellent) by A.M. Best and "A+" (Strong) by Standard & Poor's. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world. Additional information can be found at: www.ace-ina.com.
E-Risk Services, LLC, based in Flanders, New Jersey, is an underwriting management facility offering a suite of management liability insurance products to privately held organizations through its Business and Management (BAM®) package product. In addition to transacting insurance through the normal channels, E-Risk has developed an intelligent online rating system for its BAM® product which allows brokers to receive instant indications of terms. For more information about E-Risk Services, LLC, please visit our website at: www.eriskservices.com.