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Abacus Insurance Brokers names ACE American Insurance Company as carrier for online foreign production coverage

Jul 31, 2006, Source: Abacus Insurance

LOS ANGELES, CALIF.-- Abacus Insurance Brokers, Inc., a Los Angeles-based retail and wholesale insurance brokerage that distributes traditional and specialty insurance products online through the Abacus Program Management Platform (APM), has named ACE American Insurance Company, rated A+ (Superior) by A.M. Best Company, as its new package carrier for the Abacus Foreign Production Program. Effective July 18, 2006, the package is available in all 50 states.

The Abacus Foreign Production Program is designed for U.S.-based entertainment companies that are filming overseas. Film production budgets of any size are eligible for consideration and coverage terms are available from one day to one year. The minimum premium is $1,000.

"ACE is a carrier with extensive experience in commercial underwriting for specialized entertainment programs and shares the Abacus vision of providing innovative solutions to customers through real-time online distribution," said Darren Lewin, Abacus vice president of program development.

This program is offered through ACE Global Solutions ‘ International Advantage® product offering, a division of ACE USA that specializes in insurance coverage and services designed to minimize exposures that occur when employees travel outside the U.S. or are temporarily or permanently stationed in other countries.

"ACE offers a comprehensive portfolio of competitively-priced coverages," said Lewin. "Single productions and multiple productions on a single policy are available."

"We are pleased to join forces with Abacus’ experienced Foreign Production Program practice as this provides us with new opportunities to expand our business and bring ACE International Advantage’s® innovative solutions to the commercial entertainment programs insurance market," said Bill House, Senior Vice President, ACE USA Global Solutions.

Coverage available through the Abacus Foreign Production Program includes general liability, contingent automobile liability & automobile physical damage, workers compensation (all provided through ACE American Insurance Company), with rented equipment, props, sets and wardrobe, negative and faulty stock provided through other A-rated carriers.

ACE USA is the U.S.-based retail operating division of the ACE Group of Companies, headed by ACE Limited (NYSE: ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor’s. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.

Abacus has been providing online programs since 1998. Using the APM Platform, brokers are able to mix and match coverages from top-tiered insurance carriers to create customized insurance portfolios for their clients. Abacus also develops insurance software products for insurance carriers and program managers. For more information on foreign production coverage and other coverage types, contact Darren Lewin at 310-207-5432 ext 138, darren.lewin@abacusins.com or visit www.apmplatform.com. The above is only a product summary; please see the policy for actual terms and conditions.