ACE Says It Won't Use War Exclusion

ACE Limited of Hamilton, Bermuda said today it has "no intention" of denying any claim arising from the terrorist attack on the United States on the basis of a war exclusion.

The company said a published report in the Wall Street Journal had mischaracterized its position on the possible use of a war exclusion.

Ace said it expects to incur $400 million in net claims arising from the event.