Ace USA, the US serving division of Bermuda-headquartered insurer Ace, has created Ace Energy, a new business unit that will focus on catering to the insurance needs of the US energy marketplace.
Ace Energy will direct its efforts on providing a variety of both property and casualty insurance product for its US energy customers. The business will focus on offering cover for: on shore and off shore oil and gas facilities; power & utility generating facilities; inland marine, on a retail basis; high-challenge facilities, such as mining and custom and excess casualty lines.
With the devastating impact on the energy markets caused by the spate of recent hurricanes, there is a heightened need for more and better risk management solutions available to the US energy market, said John Lupica, president and COO of Ace USA.
We feel that, with the resources available to Ace, we can play an important role in serving the needs of customers in this market. To that end, Ace Energy will have full access to Ace’s global underwriting and risk management resources.