News Releases

PHILADELPHIA--(BUSINESS WIRE)--ACE Private Risk Services®, part of the ACE Group, today launched a new audio podcast discussing how background screening and specialized insurance coverages can help high net worth individuals reduce their vulnerability to unscrupulous financial advisors, contractors and domestic staff.

In the podcast, Gary Raphael, Senior Vice President of Claims and Risk Consulting for ACE Private Risk Services, and Michael Guidry, Founder, Chairman of the Board and Chief Executive Officer of the Guidry Group, an international consultancy specializing in security risk auditing and management, based their comments and findings on a white paper recently published by Mr. Raphael, “Reducing Vulnerability to Crime From Those You Trust: Strategies for the Wealthy.”

To access the podcast, (approximately 17 minutes in length), please visit:www.aceprivateriskservices.com/claims/pages/backgroundscreen.aspx.

“The current global economic recession has raised the anxiety of the public, including the wealthy,” said Mr. Raphael. “Then, when you add the recent string of highly-publicized investment industry misappropriations, you have a real concern among the wealthy about the security of their assets. If you’re an affluent or high net worth individual, you have to be wondering whom you can trust.”

“Unfortunately, many homeowners fail to ask questions about the background of contractors and other hired professionals, relying largely on references which can easily be created or distorted,” said Mr. Guidry. “In fact, more than ninety percent of Americans never run a background check on the individuals they hire, including people who will spend significant time in their homes, much of it unsupervised.”

Commented Mr. Raphael, “Because we understand the exceptional risks that threaten families with substantial assets, we try to help them prevent loss in the first place, by offering access to the background screening services of The Guidry Group in connection with the coverage we provide under our ACE Platinum Portfolio® insurance program.” Of course, background screening can’t eliminate all potential loss exposures. And, while standard insurance policies absorb some of these risks, high net worth individuals are advised to secure broader coverage offering higher financial protection limits.”

The ACE Platinum Portfolio provides specialized coverage for homes, vacation properties, automobiles, watercraft, jewelry and other valuables, and excess liability protection that offers the savings of a package discount and, in most cases, the convenience of one bill. To obtain additional information regarding ACE Private Risk Services, please visit: www.aceprivateriskservices.com. To access the white paper, please visit:www.aceprivateriskservices.com/claims/pages/backgroundscreen.aspx. Product highlights are summaries only; please see actual policy for terms and conditions. Products may not be available in all states.

ACE Private Risk Services is the ACE Group’s high-net-worth personal lines business, which provides specialty coverage for homeowners, automobile, recreational marine, umbrella liability and collections insurance for affluent individuals and families. Headed by ACE Limited (NYSE:ACE), the ACE Group’s core operating insurance companies are rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor’s. The ACE Group provides insurance and reinsurance for a diverse group of clients around the world. To learn more about the ACE Group, please visit: www.acelimited.com.