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Abacus Insurance Brokers names ACE USA as carrier for online foreign event program

Mar 10, 2008, Source: Abacus Insurance

LOS ANGELES, CALIF.-- Abacus Insurance Brokers, Inc., a Los Angeles-based program manager that distributes specialty insurance products online through abacus.net, has named ACE USA as its package carrier for the Abacus Foreign Event Program. ACE American Insurance Company, rated A+ (Superior) by A.M. Best Company, is part of the ACE Group of Companies. The foreign package is available to brokers nationwide.

The Abacus Foreign Event Program is designed for U.S.-based companies organizing or participating in events overseas. Coverage is available for a single event, or for multiple events declared to an annual policy. More than 200 types of events are eligible under the program. The minimum premium is $500.

"The foreign event component is a natural complement to Abacus’ domestic portfolio of event programs. This undertaking with ACE USA allows Abacus to provide a solution with a carrier that has immense foreign market expertise," said Darren Lewin, Abacus vice president of program development.

The program is offered through ACE USA Global Underwriting Group as part of its International Advantage® product offering. ACE International Advantage® provides insurance coverage and services designed to address exposures that occur when employees travel or are stationed outside the U.S.

"We are pleased to participate with Abacus in its Foreign Event Program. This opportunity allows ACE International Advantage® to bring its innovative solutions to brokers, agents and their clients throughout the U.S.," said Scott Lambert, Senior Vice President, ACE International Advantage®.

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

About Abacus.net

Since 1998, Abacus has managed insurance programs that function entirely online. Through the proprietary abacus.net platform, brokers access programs from top-tiered insurance companies and can bundle coverages from different carriers into a single integrated quote. The abacus.net platform performs all aspects of the insurance transaction including quoting, order placement, policy issuance and endorsing. Brokers and carrier partners benefit from substantial efficiencies, increased revenues, and cost reductions.. Abacus also partners with program managers and carriers seeking automation efficiencies and expanded distribution. For more information, visit www.abacus.net or contact Darren Lewin, CPA, CMA, CPCU, Vice President Programs at 310-500-2302 or darren.lewin@abacus.net.

About ACE USA

The ACE Global Underwriting Group, part of ACE USA, specializes in global programs and specialty coverages and provides comprehensive risk management programs and services for a diverse market of mid- to large-size U.S.-based companies, not-for-profit and government entities. 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.