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ACE Bermuda is one of the world’s leading providers of liability insurance. Our business model focuses on Fortune 1000 companies and underwrites low-frequency high-severity exposures for all industry classes.
Our core product is the Occurrence First Reported (Bermuda Market) Form, which provides catastrophe excess liability insurance with limits of up to US$150M. Our secondary products are the AEGIS Follow Form and the Occurrence Follow Form policies.
ACE Bermuda Policy Forms
Occurrence First Reported (Bermuda Market) Form
Coverage Highlights
- Broad insured definition
- Broad pollution
coverage
Broad integrated occurrence coverage
- Affirmative punitive damages
- Professional errors and omissions for bodily injury liability
- Industrial aid aircraft and aviation fuel
- Workers compensation/employers liability
- Broad personal injury definition (including discrimination)
- Watercraft, as scheduled
- Secondary non-automotive products recall
- Discovery coverage at pre-agreed scheduled pricing
- London arbitration wording
- New York law of interpretation and construction
Limits/Attachments
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Maximum US$150M in respect of a single event
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Maximum US$100M in respect of an integrated occurrence
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Full limit available for joint ventures (no partner or industry limitations)
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US$100M minimum attachment point for US risks
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US$50M minimum attachment point for non-US risks
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Ability to offer aggregate drop down to US$25M
AEGIS Follow Form Policy
Coverage Highlights
ACE Bermuda offers follow form excess liability claims first made coverage of the AEGIS policy
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Minimum attachment US$85M per occurrence
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Standard drop-down coverage to US$35M
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No aggregate caps for portfolio with respect to terrorism and pollution
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Full punitive damages cover
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Joint Venture language follows AEGIS
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30/90 time element pollution
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No RSI (repetitive strain injury) exclusion
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Flexibility to provide additional coverage enhancements
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London arbitration
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New York law of Construction and Interpretation
Occurrence Follow Form Policy
Occurrence follow form coverage is offered to industry classes with little-to-no latency exposure
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Maximum limit US$100M
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Minimum attachment point US$100M or top of the program whichever is greater
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Recognition of erosion of underlying limits
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London arbitration wording
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New York law of interpretation and construction
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Prior insurance and non-cumulation of insurance wording
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Prior claims/occurrence exclusion
Healthcare
Coverage Highlights
ACE Bermuda Excess Liability Division offers broad liability coverage to Healthcare clients.
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Maximum limits:
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Minimum attachment $75M
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Affirmative punitive damages coverage
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Ability to offer limited drop down coverage
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Discovery/extended reporting at pre-agreed scheduled pricing
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London arbitration
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New York law of Construction and Interpretation
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The Occurrence Reported Form offers broad integrated occurrence coverage which is a unique feature that allows multiple losses with a common cause to be aggregated together to erode the attachment point and limits (subject to maintenance retention to eliminate expected losses). This Form also provides optional reinstatement of aggregate limits at set pricing.
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The Follow Form Claims Made Product provides the ability to offer an occurrence trigger for non-HPL exposures.
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