ACE doubles terrorism capacity to €100m

ACE is set to double its insurance capacity for terrorism, political violence and war risks to €100m in response to evolving threats and increased demand.

The increased capacity will be available to brokers and their clients in the UK and continental Europe, targeted at the needs of large, multinational businesses with growing global exposures.

This follows new research by ACE which shows that 68 percent of risk managers across Europe, the Middle East and Africa believe that terrorism is a growing concern for business, and 75 percent agree that recent global events are causing them to review their security and travel policies.

Piers Gregory, terrorism and political violence underwriting manager, ACE Overseas General, said: “Brokers and clients are looking for certainty to confront the challenges of an increasingly volatile global environment. They want to ensure that their assets and people have appropriate terrorism and political violence cover wherever they are located and however the threat manifests itself – be it terrorism, civil disturbance, riot, political violence or even full-blown war.”

“The increase in capacity to $100 million demonstrates our commitment to responding to growing client demand for certainty and comprehensive cover across the full range of perils. As the needs of our clients become increasingly international, ACE is also one of the few insurers with the multinational capability to help them design the compliant global insurance programmes that they need in an ever more globalised operating environment.”