ACE Issues Statement on Asian Disaster; Will Match Employee Aid Contributions
Evan Greenberg, president and CEO of Bermuda-based ACE Limited, has issued a statement on the earthquake and tsunamis that struck Southeast Asia, and the measures the company has initiated to help the victims
“The earthquake and resulting tsunamis that struck Southeast Asia are a human tragedy of monumental proportion,” Greenberg stated. “The unprecedented loss of life and catastrophic damage, combined with the millions left homeless and the threat of impending disease, make this event one of the worst natural disasters in modern history. All of us at ACE express our deepest sorrow over those who lost their lives – or who lost loved ones – and our hearts go out to so many people now in need who have been touched personally by this tragedy.”
He also announced that ACE has established the “ACE Tsunami Relief Fund, to which employees around the world can contribute and have their donations matched by the company. Additionally, the ACE Foundation will make a significant contribution to one or more major relief organizations.”
Greenberg also indicated that “from a business perspective, at this time, we do not expect any material losses from this event. If warranted, we will provide an update as more information becomes available.”
- DraftKings Sued Over ‘Risk-Free’ Bets That Were Anything But
- California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- EVs Head for Junkyard as Mechanic Shortage Inflates Repair Costs
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting
- Mother of 8-Year-Old ‘Violently Sucked’ into Houston Hotel Pool Files Wrongful Death Suit
- California Sees Two More Property Insurers Withdraw From Market