New Podcast from ACE USA and ESIS Provides Dual Perspectives on Best Practice Approaches: Planning for a Disaster Before Catastrophic Events Strike
By Carla Ferrara |
Thu, 28 Feb 2008
PHILADELPHIA – January 7, 2008 – ACE USA, the U.S.-based retail
operating division of the ACE Group of Companies, joined together with
ESIS, Inc., (“ESIS®”), its risk management services arm, to launch an
audio podcast, or Internet-distributed program, on the risk management
service solutions and applicable insurance coverages that are available
to businesses and organizations seeking to proactively prepare for
catastrophes and manage potential reputation threats. The podcast
features a topical discussion by Lori Brassell-Cicchini, Assistant Vice
President, ESIS Catastrophe Services, and Connie Germano, Senior Vice
President, ACE Excess Casualty, on the ongoing risk management
challenges faced by companies seeking to mitigate the detrimental
effect of catastrophe, and the insurance solutions available that can
help clients in managing threats to their organizations.
In the discussion, Ms. Brassell-Cicchini and Ms. Germano
explore the unique challenges and considerations facing today's
companies given the almost ongoing reports of incidents of
catastrophes. Whether they stem from a natural disaster, such as
floods, hurricanes, earthquakes and tornadoes, or other major events,
including fires, explosions and airline crashes--the end result for a
company impacted by such an event could be devastating. Selecting a TPA
who can provide catastrophe management and crisis pre-planning services
and a carrier who can address the inherent reputation risks these
catastrophes bring to organizations—as well as offer coverage
capabilities—is key to supporting the unique needs of organizations
facing these threats.
“If you look at the detrimental effects of catastrophes, for
example, in the form of environmental disasters, such an event
seemingly beyond a company’s control could occur on its premises or at
a nearby facility. Environmental catastrophes that affect the earth,
air and water can evoke devastating fear on the part of employee
emergency responders and the surrounding community,” said Ms.
Brassell-Cicchini. “No matter what the form, when a company is affected
by any one of these dangerous catastrophes—whether it is damage from an
environmental incident, a product failing or caused by other factors—it
is an up-close-and personal disaster the company needs to react to
quickly. It’s not surprising that such an environmental event can not
only affect a company’s bottom line, but can also wreak havoc on the
firm’s operations, public image, and the safety and well-being of
employees and their families.”
“ACE USA can address the risk management issues stemming from catastrophic events through coverage offered by ACE Umbrella PlusSM,
the ACE USA Lead Umbrella product that includes Catastrophe Management
coverage, which helps clients by providing advance funding directly to
third-parties for managing threats to an organization’s reputation and
other expenses related to a covered catastrophic event,” said Ms.
Germano. “This product is offered to owners of manufacturing facilities
and is available for all types of risks. Additionally, this coverage
can be complemented with catastrophe claim administration and crisis
response management services available for purchase from ESIS, Inc.”
The podcast, one of an occasional series of audio podcasts that
ACE USA and ESIS, Inc. has launched on selected risk management topics,
examines the benefits of using the ACE USA Catastrophe Management
product and how clients can obtain the necessary public relations
counsel they need to communicate to the media and assist in restoring
public confidence, while they dedicate their time to managing the
material effects of catastrophe.
“Senior management is no longer looking at the risk management
team merely as the group that is there to control insurance costs. They
have come to understand that the magnitude of planning for catastrophic
events—mismanaging an event—can negatively impact your people,
financial condition, and equity with stakeholders,” said Ms.
Brassell-Cicchini. “Having a carrier you can work with that will create
a customized, adaptable and flexible program based on your particular
needs is a key element in successfully rolling out a catastrophe
management program.”
To access the ACE USA/ESIS Inc. Catastrophe Management podcast audio program (approximately 14 minutes in length), please visit www.ace-ina.com/podcasts.
The material presented in the podcast is not intended to provide legal
or other expert advice. It is presented for general information only.
Listeners of this podcast should consult knowledgeable legal counsel or
other experts with any questions. The above is only a summary; please
see actual policies for terms and conditions.
ACE Casualty Risk, a division of ACE USA, specializes in lead
umbrella and excess liability, custom primary casualty, construction,
environmental liability, public entity, and middle market workers
compensation insurance products and services, which are primarily
distributed through the retail brokerage community to the commercial
market.
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Organized in 1953, ESIS, Inc. (ESIS®) provides sophisticated risk
management services designed to help reduce our clients’ total cost of
loss. ESIS takes a holistic approach that blends people, process and
technology to offer programs that are customized to meet each client’s
needs. ESIS is part of ACE USA, the U.S.-based retail operating
division of the ACE Group of Companies, headed by ACE Limited (NYSE:
ACE). ACE USA 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 about ACE USA and its products and services can
be found at www.ace-ina.com. Additional information about ESIS, Inc.
and its products and services can be found at www.esis.com. The ACE
Group of Companies provides insurance and reinsurance for a diverse
group of clients around the world.
