November 10, 2014 by ACE Canada
TORONTO, Canada, November 10, 2014 – ACE Group today announced a ground-breaking option for ACE Privacy Protection policyholders in Canada. The new Data Breach Fund Sidecar Endorsement provides a single data breach fund limit, one that falls outside the policy’s liability limits for all data breach expenses.
The ACE Data Breach Team is a panel of independent legal, computer forensic, notification, call center, crisis communications, fraud consultation, credit monitoring, and identity restoration firms. For the first time, policyholders in Canada can obtain both the ACE Data Breach Team and a single data breach expense limit, separate from the policy’s liability limit — an option that is unequaled in the marketplace.
“ACE recognizes that small and mid-size organizations have a need for a robust post-breach response, and the ACE Data Breach Team is especially qualified to address these needs. Through our experienced Canadian data breach coach, Fasken Martineau DuMoulin LLP, and the superb vendors on our team, ACE offers clients industry-focused expertise when confidential or proprietary information is lost or compromised,” said Bobbie Goldie, Vice President, ACE Professional Risk, ACE Canada.
ACE Professional Risk helps firms mitigate the financial and reputational risks associated with privacy breaches. The ACE Data Breach Team, combined with one of the Data Breach Team Endorsement options, bridges the gap between risk transfer and purchased loss control, creating a comprehensive risk management program for privacy, data breach, and network security risk.
Data Breach Team Endorsement enhancements include:
The new Data Breach Fund Sidecar Endorsement benefits include:
ACE’s Data Breach Fund Sidecar Endorsement offers the expanded coverage and services needed to help small and mid-sized organizations mitigate and manage the rising risk and expense of data breaches, creating a comprehensive risk management program for privacy, data breach, and network security risk.
ACE Professional Risk is staffed by a specialized team of innovative underwriters and provides management liability and professional liability products throughout Canada. For more information about ACE and its range of professional risk products and services, please visit: www.acegroup.com/ca
Product highlights are summaries only; please see the 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 shall not be a party to any agreement entered into between any Data Breach Team service provider and an ACE policyholder. It is understood that Data Breach Team service providers are independent contractors and are not agents of ACE. ACE assumes no liability arising out of any services rendered by a Data Breach Team service provider.
ACE in Canada, which part of ACE Group, operates as ACE INA Insurance and ACE INA Life Insurance, subsidiaries of ACE Limited (NYSE:ACE). ACE provides commercial property and casualty and life, accident and health insurance products and services throughout Canada. Additional information can be found at www.acegroup.com/ca.
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of 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, or follow ACE on Twitter https
://twitter.com/ACEGroupNA.