Financial Lines

If you become aware of an actual or potential claim, you should immediately provide notification to your broker or ACE.  The notification should include all information required by the policy.  You should also forward any information or comments you might wish to make

An acknowledgment of the claim notification will be sent within three to five working days of receipt of notification.  Further information and documents may be requested; 

ACE will then undertake any necessary investigations, determine whether the policy applies, advise you of any action you might be required to take and determine how to resolve the claim.

ACE maintains a panel of service providers such as loss adjusters, forensic accountants, solicitors, investigators and other experts to assist in the investigation and handling of litigious matters, if necessary, that may arise from claims. 

Should you require ACE to handle your claim, you should not enter into any discussions with other parties about the claim or attempt to deny or settle the claim. 

If there is a denial of indemnity, then detailed reasons for the denial will be provided in writing. 

Claims payments will be made promptly after receipt of duly executed release/settlement agreement/discharge. 

Claims status reports can be provided on request. 

Directors and Officers’ Liability policies provide a variety of types of standard and optional coverage.  You should carefully check the Policy Wording to determine the scope of coverage under your own Policy and discuss any questions with your broker.