NEW YORK--(BUSINESS WIRE)--ACE Insurance Litigation Watch, the online repository for lawsuits and other claims against the ACE Ltd. insurance company (NYSE: ACE) and its ACE Group subsidiaries, today announced that it is archiving up-to-date insurance regulatory documents from all fifty states and the federal government for free and easy public access.
The ACE Litigation Watch website aims to provide a secure and convenient platform through which policyholders and litigants can collaborate. By adding the information accumulated as a result of comprehensive FOIA requests to the ACE Litigation Watch databases, there will be a substantial expansion in the scope of information ACE Litigation Watch is able to make public.
The information that is being compiled from—among other places—State insurance regulators, the SEC, IRS, DOJ, and FTC, although technically considered public information, is often difficult and costly for the public to access. The process of taking that information and making it available to the public in a user-friendly format, whether the user is a financial analyst, a litigant, or a prospective policy-holder, should be a major step forward in achieving corporate transparency and accountability with respect to the Swiss insurance giant ACE Ltd.
ACE has a very extensive litigation history that spans across all U.S. jurisdictions. An analysis conducted by ACE Litigation Watch of available court records revealed more that 16,000 cases involving ACE Group companies. Many of those cases involve policyholders who contend that ACE claims specialists have improperly delayed, denied, or diminished the benefits owed under policies issued by ACE Group companies. For example, in the past year, lawsuits have involved such prominent companies as Pepsi (NYSE: PEP), Masco (NYSE:MAS), and NRG Energy (NYSE: NRG). Furthermore, ACE has recently been involved in litigation for failure to cover policyholders in the BP Oil Spill litigation, FEMA Toxic Trailer Cases, and numerous state Workers Compensation cases.
The ACE Group’s North American insurance operations are overseen by executive John Lupica. ACE Limited (NYSE:ACE), which is included in the S&P 500 index, is the ultimate parent of U.S. insurance companies ACE American Insurance Company, ACE American Lloyds Insurance Company, ACE American Reinsurance Company, ACE Capital Title Reinsurance Company, ACE Commercial Risk Services, ACE Employers Insurance Company, ACE Fire Underwriters Insurance Company, ACE Indemnity Insurance Company, ACE Insurance Company of Illinois, ACE Insurance Company of Ohio, ACE Insurance Company of Texas, ACE Insurance Company of the Midwest, ACE Property and Casualty Insurance Company, ACE Tempest Reinsurance USA, ACE USA, ACE Westchester, Allied Insurance Company, Atlantic Employers Insurance Company, Bankers Standard Fire and Marine Company, Bankers Standard Insurance Company, Century Indemnity Company, Century Reinsurance Company, Combined Insurance, Combined Life Insurance Company of North America, ESIS, Inc., Illinois Union Insurance Company, INA Surplus Insurance Company, Indemnity Insurance Company of North America, Insurance Company of North America, Pacific Employers Insurance Company, Rain and Hail Agricultural Insurance, Westchester Fire Insurance Company, and Westchester Surplus Lines Insurance Company.
ACE Insurance Litigation Watch is currently tracking more than 225 cases in Federal courts alone. Visit www.ACEinsuranceWatch.com for more information. ACE Insurance Litigation Watch is not affiliated with the ACE Insurance Group in any way.