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ACE Digital DNA® Network Risk Insurance Program

Today’s companies are challenged with huge volumes of data to manage and protect while they try to maintain growing network infrastructures. Losing control of these intangible assets can result in significant loss and expense. ACE’s Digital DNA® insurance program was developed to help businesses manage the network security and privacy risk exposures that have the potential to significantly impact their balance sheets.

Benefits:

  • Admitted in most states
  • Designed for technology and non-technology companies alike
  • Designed to provide standalone limits for 1st party protection
  • Program available to businesses of all sizes
  • Free access to the eRisk Hub® portal, a web-based loss prevention resource containing information and technical resources to help policyholders manage their privacy and network risk

Coverage:

  • Digital Asset Loss

Covers costs incurred to replace, restore or recollect data which has been corrupted or destroyed as a result of a network security failure

  • Cyber Extortion

Covers extortion monies and associated expenses arising out of a criminal threat to release sensitive information or bring down a network unless consideration is paid

  • Security Failure Notification Expense

Offers reimbursement for compliance expenses incurred under personal privacy and identity theft legislation, including state identity theft and notification laws

  • Business Interruption

Covers loss of income and extra expense arising out of the interruption of network service due to an attack on the insured’s network, including the acts of criminal hackers, malicious insiders and distributed denial-of-service (DDoS) attacks

  • Contingent Business Interruption

Covers loss of income and extra expense to the insured arising out of a network interruption caused by a key service provider, which can also include co-location facilities web hosting companies and outsourced e-commerce service providers

 

Limits

Up to $15 million

Client Profile

  • Operates a website
  • Uses a network in day-to-day operations
  • Electronically stores customers’ information and/or valuable intangible assets
  • Relies on a third-party network service provider
  • Relies on revenue derived from website transactions

Forms / Applications

Document Name Size Date
ACE Digital DNA Policy Specimen.pdf 0 KB 09/22/2014
ACE Digital DNA Application.pdf 0 KB 09/22/2014
Cloud Service Provider Supplemental Application_PF37878.doc 0 KB 06/28/2012

Claims Examples

  • Business Interruption Loss: Your e-commerce server has a vulnerability in its operating system that is exploited by a hacker. The perpetrator deletes vital application files, rendering your online system useless and resulting in a five-day outage. Consultant’s fees to remediate this disaster are mounting and your business partners are infuriated. Customers are unable to access your website, and the lost revenue is impacting your bottom line.
  • Cyber Extortion Loss: You receive a menacing email from an unknown assailant, who threatens your company with a DDoS attack unless you wire $50,000 to a bank account in Eastern Europe. He then proves he can make good on the threat, shutting your site down for a two-hour period. Your defenses are in place, but this may not be sufficient for an attack that generates 1,000 times the traffic you are accustomed to managing in real-time. The FBI advises that cyber extortions are becoming more common.
  • Digital Asset Loss: Your business’ future relies on the new product plans housed in your database. The security and integrity of these intangible assets is paramount. A disgruntled IT administrator illegally accesses and destroys several critical files, imperiling the results of months of hard work. Computer forensic specialists may be able to recover this information, but at what cost?
  • Security Failure Compliance Expense: In the course of doing business, you maintain a significant amount of customer information on your network. Through a review of your system logs, it appears that a customer database was illegally breached and that personally identifiable information – names, credit card numbers and Social Security numbers – may have been compromised. Under current regulations, you must immediately alert your customers of this blunder. Your organization’s reputation is at stake, along with your profit margins.