News Releases

PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group, today announced the launch of a new audio podcast: “Preparing for the Inevitable Data Breach: What to do Before Sensitive Customer and Employee Data is Breached, Stolen or Compromised.” To access the podcast, (approximately 12 minutes in length), please visit: www.aceusa.com/News/Pages/Podcasts.aspx.

The podcast features a panel of specialists in insurance and risk management, law and cyber technology: Toby Merrill, Vice President, ACE Professional Risk; John Mullen, Attorney, Nelson, Levine, DeLuca & Horst; and Mark Greisiger, President, NetDiligence, as they discuss the recent developments in state and federal law requiring more disclosure from companies that experience data breaches. Under a new, tightly-designed set of rules, companies that collect personal information regarding customers, employees or other outside sources, are required to notify individuals in the event their personal information has been compromised.

“When a data breach occurs, it can be very costly to companies and open the door to legal liability,” commented Mr. Merrill. “In addition, companies may be at an increased risk of identity theft. According to the Identity Theft Resource Center, the number of reported breaches skyrocketed from 446 breaches in 2007 to 656 breaches in 2008, an increase of 47 percent. And that number is expected to grow as more and more business is conducted electronically.”

Mr. Merrill commented further on the steps an organization should take to create a response plan to proactively deal with a data breach, “One of the most important facets of a response plan is knowing how to respond to an incident before it occurs. Instituting a formal plan to deal with the consequences of a data breach is a critical risk management component in an age where so much business is conducted electronically. The last thing a company’s CEO needs after a serious privacy event is to have his or her staff react to the crisis in panic mode.”

Staffed by a team of innovative underwriters, ACE Professional Risk is the operating unit within ACE USA, which distributes management liability, professional liability and surety products through retail brokers through the U.S. and Canada. For more information about ACE Professional Risk and its range of products and services, please visit: www.aceusa.com.

ACE USA is the U.S.-based retail operating division of the ACE Group, 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.aceusa.com. Celebrating 25 years of insuring progress, the ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com.