Special Weather Products: ACE Spectra

Named Windstorm Insurance Deductible Buy Down: ACE Spectra

Hurricane activity has been on the increase in the last decade. Many commercial insureds are often surprised to find out that typical windstorm deductibles apply separately for each occurrence. Deductibles of just three to five percent of property value can lead to unexpectedly high expenses when applied to each occurrence.

ACE Spectra is a named storm insurance for real and personal property, including business income, on a first layer, or primary, basis. The policy can be purchased stand-alone, or to cover an existing windstorm property policy deductible.

The ACE Spectra policies can be purchased as a mono-line primary windstorm policy or as a windstorm deductible buy down for existing ACE Property clients. ACE Spectra covers direct physical damage, or loss of use of, covered property, including business income without extra expense. It also includes coverage for vandalism during the hurricane period.

Potential Customer Profile
Potential customers include hospitality, entertainment, manufacturing and real estate businesses located in coastal areas such as North and South Carolina, Virginia, Georgia, Alabama, Mississippi, Louisiana, and Florida. This includes hospitality, entertainment, manufacturing and real estate industries.

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