PHILADELPHIA--(BUSINESS WIRE)--
ACE USA, the U.S.-based retail operating division of the ACE Group,
today announced the addition of five new member firms to its ACE Data
Breach Team. This pool of independent, third-party professional service
providers have the capabilities and experience to help organizations and
businesses execute on comprehensive data breach response plans. In an
ongoing effort to help policyholders mitigate and manage the rising risk
and expense of data breaches, ACE has expanded this panel of independent
legal, computer forensic, notification, call center, crisis
communications, fraud consultation, credit monitoring, and identity
restoration firms.
“We are pleased to announce the expansion of the ACE Data Breach Team
panel,” said Toby Merrill, Vice President, ACE Professional Risk, “as
part of our ongoing effort to offer choices to our policyholders for
their data breach response. To draw a parallel to healthcare, just as we
want to select the best physician for ourselves and our family,
policyholders want to select the best vendors who will handle their
organization’s response to a breach of sensitive customer data.”
Michael Tanenbaum, Senior Vice President, ACE Professional Risk added,
“It has become clear that many midsize and smaller companies have the
desire but may often lack the resources to develop a sophisticated
security risk management program. As a result, they require additional
guidance in locating qualified vendors to deal with these events. In
contrast, many large organizations have well-developed data breach
response plans that include a list of reputable vendors who match their
needs. These firms want to select their own vendors and should not have
to choose them from a short vendor list. ACE is dedicated to providing
choice to our policyholders, and, as a result, we are confident we can
provide them with a customized solution that will meet their needs.”
Due to increasing regulations affecting industries like healthcare,
consumer finance, and retail trade, a breach response plan and the
service providers who will execute the plan should not follow a
universal “one-size-fits-all” approach for every company, regardless of
industry. As a result, it is important to have a wide range of service
providers who have experience -- not only with the services they provide
- but also within a particular industry that may require a tailored
approach, based on legislation.
“An organization in the healthcare field experiencing a breach that
compromises medical records has highly specific needs for legal,
notification, and identity-monitoring procedures. This is true because,
given the nature of Health Insurance Portability and Accountability Act
(HIPAA) and the Health Information Technology for Economic and Clinical
Health (HITECH) Act, electronic health records are increasingly used
and, as a result, the potential risk of medical identity theft has grown
in response. Meanwhile, a loss of credit card numbers at a retail chain
may require a different notification process and different set of
monitoring services to be offered by the chain to their affected
individuals,” said Anthony Dagostino, Vice President, ACE Professional
Risk.
ACE Professional Risk’s industry-leading privacy protection and network
liability protection policies, ACE
DigiTech® and ACE
Privacy Protection®, provide privacy, network security,
and media liability coverage for all industries, include access to ACE’s
Data Breach Team, with the added benefit of discounted loss control
service fees for ACE policyholders. The ACE
DigiTech® policy also offers technology errors &
omissions and miscellaneous professional liability coverage.
ACE Professional Risk’s Data Breach Team, combined with the Data Breach
Team Endorsement, bridges the gap between risk transfer and purchased
loss control, creating a comprehensive risk management program for
privacy, data breach, and network security risk.
Additional ACE DigiTech and ACE Privacy Protection
features and announcements:
ACE Professional Risk, a division of ACE USA, is staffed by a
specialized team of innovative underwriters and provides management
liability, professional liability, and surety products throughout the
U.S. For more information about ACE Professional Risk and its range of
products and services, please contact Toby Merrill at toby.merrill@acegroup.com,
(215) 640-1390 or visit www.acegroup.com/us.
Product highlights are summaries only; please see actual policy for
terms and conditions. Products may not be available in all locations and
remain subject to ACE Professional Risk’s underwriting criteria. ACE USA
shall not be a party to any agreement entered into between any Data
Breach Teamservice provider and an ACE policyholder. It is
understood that Data Breach Teamservice providers are
independent contractors, and are not agents of ACE USA. ACE USAassumes
no liability arising out of any services rendered by a Data Breach Team
service provider.
ACE USA is the U.S.-based retail operating division of the ACE Group,
headed by ACE Limited (NYSE: ACE), and is rated A+ (Superior) by A.M.
Best Company and A+ (Strong) by Standard & Poor’s. ACE USA, through its
underwriting companies, provides insurance products and services
throughout the U.S. Additional information on ACE USA and its products
and services can be found at www.acegroup.com/us.
The ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 53 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident supplemental health insurance, reinsurance and life insurance
to a diverse group of clients. ACE Limited, the parent company of the
ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a
component of the S&P 500 index. Additional information can be found at: www.acegroup.com.
ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com
Source: ACE Group
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