The ACE Group, a component of parent company
), has recently launched a new insurance product to address the
insurance needs of the large number of institutions sponsoring
international study and travel programs. ACE Limited is a
Switzerland based multiline property and casualty insurer.
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The new comprehensive policy is named ACE Educators International
Advantage Edge. The policy is specifically designed to cater to
education institutions and help them deal with the risks
associated in the business. The ACE Educators International
Advantage Edge policy will provide these institutions with
general liability, business personal property and contingent auto
liability coverage. The policy will be offered through ACE USA,
and ACE Commercial Risk Services, ACE Group's retail operations
and specialty insurance unit respectively.
The product launch represents the company's expansion of
International Advantage Package Policy, an option that protects
U.S. companies and educational institutions and their employees
from travel risks.
With globalization in vogue, academics have also joined the
drive. Administrators are bringing up academic coursework that
help students thrive in the global economy. As per reports by
National Center for Education Statistics, America is home for
about 5,000 degree-granting institutions with more than 300,000
students studying abroad annually. Including the 30,000 secondary
schools in the nation with students traveling overseas, the
number is even higher. These institutions face an array of risks
ranging from simple trip travel exposure to complex multinational
exposure. With this increasing trend, there is a huge demand for
policies that would insure educators from these risks. ACE Group
intends to tap this opportunity and satisfy the market demand
through the introduction of this product.
We believe the introduction of the ACE Educators International
Advantage Edge policy is a remarkable step by the company to gain
market share. The product's single-point access to several key
coverage enhancements is a unique feature. Not many insurers in
the international education industry provide such a comprehensive
ACE currently carries a Zacks Rank #3 (Hold). Among other
property and casualty insurers,
EMC Insurance Group Inc.
Everest Re Limited
Global Indemnity Plc
) carry a favorable Zacks Rank #1 (Strong Buy) and are worth