ACE Privacy Protection^®

The ACE Privacy Protection^® Policy approaches traditional network liability coverage with an innovative new alternative. This next generation policy focuses on privacy liability arising out of lost computer equipment, network security breaches and human errors. It even covers companies from mistakes made by third party service providers.

Benefits:

• Policy is designed for companies of all sizes
• Privacy coverage includes customer and employee information, personal information in any format, and network, as well as non-network security breaches
• Free access to eRisk Hub^®, a web-based loss prevention resource containing information and technical resources to help policyholders manage their privacy and network risks
• Data breach expenses include voluntary notification and expenses to comply with the consumer notification provisions of the applicable jurisdiction that most favors coverage
• No retention, coinsurance, prior written approval, or post-discovery time restrictions for Data Breach Fund (voluntary notification subject to prior written approval)
• Privacy Regulations coverage includes the latest regulations including the Identity Theft Red Flags Rule, HITECH Act and Massachusetts 201 CMR 17
• Definition of damages includes regulatory fines where permitted by law, a consumer redress fund, and punitive and exemplary damages (most favorable jurisdiction language)

Coverage:

• Privacy Liability
  • Covers loss arising out of the organization’s failure to protect sensitive personal or corporate information in any format.
  • Provides coverage for regulatory proceedings brought by a government agency alleging the violation of any state, federal, or foreign identity theft or privacy protection legislation.
• Data Breach Fund
  • Covers expenses to retain a computer forensics firm to determine the scope of a breach, to comply with privacy regulations, to notify and provide credit monitoring services to affected individuals, and to obtain legal, public relations or crisis management services to restore the company’s reputation.
• Network Security Liability
  • Covers liability of the organization arising out of the failure of network security, including unauthorized access or unauthorized use of corporate systems, a denial of service attack, or transmission of malicious code.
• Internet Media Liability
  • Covers infringement of copyright or trademark, invasion of privacy, libel, slander, plagiarism or negligence arising out of the content on the organization’s internet website
• Network Extortion Threat
  • Covers extortion monies and associated expenses arising out of a criminal threat to release sensitive information or bring down a network.