PHILADELPHIA – October 14, 2004 – ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, today announced the appointment of Patricia Barrett as Vice President, to lead the ACE USA Corporate Risk Fidelity Underwriting unit—part of ACE USA’s Professional Risk Division. Based in Los Angeles , Ms. Barrett has overall responsibility for managing the underwriting operations of this unit.
ACE USA Professional Risk is the operating unit within ACE USA that distributes Management Liability and Professional Liability insurance products through retail brokers throughout the U.S. and Canada . ACE USA Professional Risk is comprised of ACE Management and Professional Liability, ACE Medical Risk and ACE Commercial Surety units.
“The Corporate Risk Fidelity Underwriting unit provides innovative solutions that address the unique risk management needs of employers who wish to protect their organizations from the potentially devastating impact of employee and non-employee-perpetuated crimes,” said Tim O’Donnell, Executive Vice President, ACE USA Professional Risk. “Pat brings her extensive experience in the management liability underwriting arena as well as her strong relationships in the industry to ACE USA Professional Risk.”
With more than 24 years of risk management and underwriting experience in the insurance industry with particular emphasis on serving the management liability segment, Ms. Barrett joins ACE USA from American International Group, where she most recently served as Executive Vice President, Middle Market Fidelity Unit. She previously held a variety of senior leadership positions in the professional liability arena with AIG, Continental Corporation and Fidelity & Deposit Company of Maryland . Ms. Barrett attended Citrus College . She is a member of the Association of Certified Fraud Examiners.
Product Highlights :
• Coverage for all full-time and part-time employees on a blanket basis
• Temporary personnel covered while providing services, at the direction of the insured, on the insured’s premises
• Coverage for employee theft, whether identified or not
• Computer and Funds Transfer Fraud Coverage offered
• Worldwide coverage available
- Coverage for Expenses Incurred to Establish the Amount of A Covered Loss, available
- ERISA Compliance and coverage for benefit plans, not subject to ERISA
- Employee Definition may be expanded to include:
- Directors and Trustees
- Non-Compensated Officers
- Committee Members
- Students Gaining Work Experience
- Independent Contractors and Consultants
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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 (Excellent) 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.