ACE Business Insurance Review from

ACE Group is one of the world’s largest multiline property and casualty insurers. Operating in over 54 countries, the Group offers an extensive range of products and solutions to individuals, families and businesses. It offers commercial and personal property and casualty insurance, life insurance, personal accident cover, health insurance and more. In 2013, the ACE Group had more than $94 billion in assets.

ACE has had a presence in Australia for more than 50 years. Its Australian arm, ACE Insurance Limited, has more than 400 staff across NSW, Queensland, Victoria, SA and WA. Underwriting more than $500 million in gross premiums every year, ACE is a respected name in the Australian insurance industry.

As you’ll see below, the company offers an extensive range of risk management solutions to help look after the insurance requirements of a wide variety of businesses.

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ACE Business Insurance policy options

ACE Business Insurance offers policies to suit everyone from multinational corporations to small local businesses. It provides the following policy options:

Accident and Health Insurance

ACE provides business travel insurance to cover the common risks that staff members take when travelling for work, regardless of whether they’re travelling interstate or around the globe. Expatriate insurance looks after your staff when they are seconded to work overseas, covering things like medical expenses, 24-hour medical assistance and repatriation costs. The company also offers:

  • Group Personal Accident Insurance. Group Personal Accident Insurance protects against loss by death or injury to employees.
  • Inpatriate Insurance. Inpatriate Insurance for employees who hold a 400-class visa and have been seconded to Australia on business.
  • Journey Accident Insurance. Journey Accident Insurance for when an employee is disabled or injured on a journey.
  • Voluntary Workers Insurance. Voluntary Workers Insurance protects volunteers you employ.

Casualty Insurance

ACE’s range of casualty insurance products includes public and products liability insurance. This type of cover is designed to offer protection when you are sued for legal liability, while cover can be tailored to suit the needs of your business.

  • Broadform Liability and Environmental Protect Insurance. Broadform Liability and Environmental Protect Insurance offers protection against environmental risks faced by small to medium businesses, such as pollution, natural resources damages and remediation costs.
  • Umbrella Liability Insurance. Umbrella Liability Insurance is designed to offer overarching protection for multiple levels of a business, including coverage for property, contractual liability and advertising liability.

Environmental Risk

Due to the increased pressure placed on businesses to act in an environmentally friendly and sustainable manner, ACE offers four policies to provide much-needed financial protection.

  • Premises Pollution Liability Insurance. Premises Pollution Liability Insurance protects you against gradual as well as sudden and accidental first and third party environmental liabilities.
  • Contractors Pollution Liability Insurance. Contractors Pollution Liability Insurance provides cover for you and your subcontractors.
  • TankSafe Storage Tank Liability Insurance. TankSafe Storage Tank Liability Insurance is specially designed to protect you against environmental liability arising from a storage tank.
  • Healthcare Premises Pollution Liability Insurance. Healthcare Premises Pollution Liability Insurance is tailored for the owners, operators and managers of healthcare facilities.

Energy & Power Insurance

Among the businesses this area of cover is designed for are oil and gas companies, renewable energy producers and power generation plants.

  • Boiler and Machinery Breakdown Insurance. Boiler and Machinery Breakdown Insurance is available as part of a property package or as single cover, and it’s designed for the protection of heavy machinery and manufacturing equipment in large industrial situations.
  • Energy Insurance. Energy Insurance from ACE offers protection for oil and petrochemical facilities, including cover for physical assets and business interruption.
  • Power Generation Insurance. Power Generation Insurance is designed for power plants, power stations and power grid operators.

Financial Lines Insurance

This area of cover looks to protect your business’ reputation against claims and potentially expensive litigation.

  • Commercial Crime Insurance. Commercial Crime Insurance reduces your exposure to employee fraud, theft or forgery, as well as third party computer crime.
  • Directors & Officers Insurance. Directors & Officers Insurance protects company management against claims of wrongful acts.
  • Insurance For Financial Institutions. Insurance For Financial Institutions takes multiple forms – Financial Institutions Bond Insurance, Investment Management Insurance, Electronic & Computer Crime Insurance, and Financial Institutions Professional Indemnity Insurance. Other policies offer under ACE’S Financial Lines Insurance are Management Liability Insurance and Professional Indemnity Insurance.

Marine Insurance

ACE offers General Cargo Insurance to cover you against the physical loss of or damage to insured products during transport, while Project Specific Cargo Insurance provides protection for marine cargo, loss of profit and delayed start-up. Carriers Goods in Transit, Commercial Hull and Charterers Liability Insurance are also available, while the Marine and Environmental Impairment Insurance Package is offered to combine two stand-alone policies: ACE Marine Cargo and ACE Contractors Pollution Liability.

Multinational Insurance

Multinational companies need to adhere to different regulations in different countries, which can make it quite difficult to find the right type and level of insurance cover. However, ACE is available to deliver local solutions in a huge range of markets across the globe, offering its cover in more than 170 countries. ACE can design multinational insurance packages for Accident and Health, Contract Works, Environmental Liability, Directors & Officers Liability, General & Products Liability, Terrorism and more.

Property and Construction

Construction Insurance is one of ACE Business Insurance’s specialties, with policies available on a single project or annual works basis. Construction risks can be covered for residential developments, sports stadia, commercial offices, hospitals, oil and gas facilities, power generation companies and more. Property Insurance from ACE covers your business against damage from storm, fire and a range of other risks, as well as consequential loss resulting from the disruption to business operations.

Risk Management

ACE is also a global leader when it comes to developing risk management solutions for businesses. ACE can help you assess the risks and risk performances across different areas of your business, and then compare how they stack up against best practices across the industry. The insurer will then develop a management plan to increase risk awareness and provide solutions to minimise risk.


ACE Group’s global financial strength means that the insurer is able to support its clients when it comes to surety business, especially in the mining and construction industries. ACE offers an extensive selection of surety products for businesses, including contract performance, maintenance, bid and advance payment bonds.

How to make a claim with ACE Business Insurance

It’s important that you notify ACE Insurance of any event or circumstances which could lead to a claim within 30 days of them occurring, or as soon as is reasonably practical to do so. This notice will need to be given in written form.

To ensure prompt handling and processing of claims, the company prefers to be contacted via email. Full details of this can be found on the ACE Business Insurance website.

In order to have your claim handled as quickly as possible, you’ll need to provide certain details to ACE. These include your company name, the class of business to which your claim relates, your policy number, and the contact details of the person in your company to whom any enquiries about the claim should be directed.

Within five business days of lodging your claim, you’ll receive a formal confirmation of receipt with details of your claim number and the ACE employee who will handle your claim.

Why choose ACE as your Business Insurance partner?

The ACE Group is a respected global insurance company backed by significant financial strength. With operations in 54 countries, it had nearly $23 billion of gross written premiums in 2013. This gives you the peace of mind that comes with dealing with a trusted and strong company.

On a local scale, ACE Business Insurance has a broad base of operations within Australia and more than 400 employees. Local underwriting and claims personnel mean that ACE’s policies are specifically tailored to the needs of the Australian market.

ACE also offers a large range of business insurance policies to help look after a wide variety of business insurance needs. Its policies are flexible and can be adapted to suit your business, while ACE also has a strong focus on developing long-term relationships with its clients.

In short, insurance policies from ACE can help you take control of the risks facing your business, no matter whether you run a local business or a large enterprise.

ACE Business Insurance policies are definitely worth considering when you’re looking for financial protection for your company. However it’s always a sensible idea to compare policies with other products on the market. This will ensure that you will end up with the right type and level of cover for your business.

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