News Releases

ACE USA Introduces ACE Privacy & Network Liability Coverage to Address Specialized Needs of Small Businesses
Oct 13, 2008

PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced that it will now offer to small businesses its ACE Privacy Protection® Policy, which is designed to minimize the risks and mitigate the impact of privacy and other network risk exposures in todays digitally-driven global business arena. The ACE Privacy Protection Policy is offered through ACE Commercial Risk ServicesSM, which provides specialty products and solutions for small businesses, and underwritten by the ACE Professional Risk underwriting unit.

As a market leader in providing privacy and network liability, ACE understands that when an incident occurs, policyholders need the financial support to deal with data breach expenses and the ensuing legal actions that may occur in response to such incidents. Recognizing that network breaches coupled with human and administrative errors are proving to be a challenge for businesses as they manage their cyber risk, ACEs Privacy Protection policy is designed specifically with the small business owner in mind, said Paul Dietrich, Vice President, ACE Professional Risk.

Regardless of its size, businesses that are entrusted with sensitive consumer, employee or business data need to take a proactive approach to protecting the private information their organization maintains, said Michael Baeurle, Senior Vice President, ACE Commercial Risk Services. Any breach of data that has been entrusted to an organization can bring irreparable damage to its reputation, its business and its balance sheet.

The ACE Privacy Protection policy is comprised of three main coverage components: privacy liability, identify theft response fund and network security liability. There are also optional coverages available to protect small business owners, including, Internet media liability and cyber extortion. Taken together these coverages provide broad protection for customers who maintain websites, databases and are involved with electronic commerce-related initiatives.

Coverage highlights:
-- Privacy coverage includes:
-- personal information in any format
-- breaches not restricted to a network event
-- regulatory proceedings
-- customer and employee information
-- consumer redress fund
-- No retention, coinsurance or time element restrictions for identity theft response fund
-- Notification expenses not subject to prior approval by ACE
-- Broad form network security grant replaces specified perils
-- Definition of damages includes a consumer redress fund awarded from a regulatory proceeding and punitive and exemplary damages (most favorable jurisdiction language)
-- Definition of insured includes leased employees, temporary employees and independent contractors
-- Fraud and profit exclusions triggered only if there is a final adjudication

To learn more about the ACE Privacy Protection® Policy, please contact Paul Dietrich at (215) 640-4854 For additional information or to submit new business applications, brokers can contact John McDevitt at (215) 640-4056 or 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 Risks underwriting criteria.

ACE USA is the U.S.-based retail operating division of the ACE Group of Companies, headed by ACE Limited (NYSE:ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poors. 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 The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.


Media Contact:
ACE North America Communications
Carla Ferrara, 215-640-4744