Products
For insurance programs originating in the UK:
- ACE UK Major Risks
- Casualty
- Property and Business Interruption Programmes
- Financial Lines - Commercial
- Environmental Liability Products
- Cyber Liability
- Professional Indemnity / Errors and Omissions
- Marine Global Programmes
Accident and Health
Cyber Liability
Overview
ACE GPSSM provides clients doing business across international borders customised solutions for the broad range of risks they face, both at home and abroad. Our coordinated and transparent global approach to cyber liability provides customers with risk transfer and risk financing solutions which are both compliant and cost effective.
Today organisations throughout the world rely on information technology to carry out their business. Whether from the private or public sectors, from the smallest to the largest organisations, computer systems are at the centre of business.
The reliance on information technology has brought with it new risks. Loss or corruption of data can have a debilitating effect on an organisation's ability to operate.
The threat of virus or hacker attack and the loss of sensitive data can also cause problems and pose threats to an organisation's revenues and ultimately, profit.
Once a company begins to operate beyond its home country borders, the complexity of these risks increases significantly. At ACE we have created solutions to these new risks by identifying the specific exposures, both first and third party, and providing indemnity under our cyber liability policies.
On a first party basis the policy provides cover for the expense of network restoration
in the event of the loss or corruption of data and the failure of IT systems. Loss of
business income and extra expense associated with the failure is also catered for.
The failure can be the result of a number of circumstances including:
- Network Security Breach
- Unauthorised Use of a Computer System
- Computer Virus
- Accidental Damage or Destruction of Data Media
- Human Error
Under the third-party cover ACE will indemnify for sums the insured may become liable to pay as a result of trading electronically. The policy provides protection in respect of:
- Disparagement, Plagiarism and Infringement
- Rights to Privacy or Breach of Confidence
- Transmission of Virus and Denial of Service
Limits
ACE share up to £10M / $10M first-party or £5M / $5M third-party.
All public, private and non-profit organisations with an active risk management philosophy and programme.
- Underwriting expertise coupled with Information Technology industry experience
- Claims expertise and experience
- Superior insurance products
- Global network of ACE Group insurers
- Efficient operational platform
ACE has a highly experienced team of underwriters dedicated to providing tailored solutions for our multinational clients. As an underwriting company ACE takes the time to understand our clients' exposures and work in partnership to deliver a global programme which meets their needs.
Leveraging all of the assets and capabilities of the ACE Group organisation and network in over 170 countries around the world, ACE GPSSM cyber liability insurance products ensure that clients receive timely and expert claims resolution services as well as effective and compliant locally issued insurance documentation. This integrated global capability is backed by industry leading technology that ensures clients can access detailed information about the status of their global programme, including a copy of the locally issued policy, and claims data from their own secure web enabled portal 24 hours a day, 7 days a week.
For more detailed information on ACE WorldviewSM, our web enabled client portal, or Global Risk Advantage (GRA), our web enabled claims reporting tool, please see separate sheet.
For more information about the ACE Cyber Liability products, please contact:
Iain Ainslie
Technology and Cyber Liability Underwriter
iain.ainslie@acegroup.com
+44 (0)207 173-7731
© 2011 ACE Group. The information and descriptions contained herein are not intended to be complete descriptions of the terms, exclusions and conditions applicable to the products and services, but are provided solely for information purposes. Please refer to the policy or product and services agreement for complete terms, exclusions and conditions. Access to products and services may be subject to restrictions in certain countries. Insurance is provided by ACE European Group Ltd., which is authorised and regulated in the United Kingdom by the Financial Services Authority.