ACE USA Unveils New Coverages for Small Biz

ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, 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 today’s digitally-driven global business arena. The ACE Privacy Protection Policy is offered through ACE Commercial Risk Services^SM, which provides specialty products and solutions for small businesses, and underwritten by the ACE Professional Risk underwriting unit.

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 Web sites, 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, contact Paul Dietrich at (215) 640-4854 or paul.dietrich@ace-ina.com. For additional information or to submit new business applications, brokers can contact John McDevitt at (215) 640-4056 or commercialriskservices@ace-ina.com.