TORONTO, June 15 /CNW/ - ACE Canada, the Canadian-based operating
division of the ACE Group, today announced the launch of ACE DigiTech(SM), a
robust errors and omissions product designed for the Canadian technology
market. The newly-launched ACE DigiTech digital technology and professional
liability insurance program offers up to $20 million in limits and provides
comprehensive technology-based professional liability coverage, and related
state-of-the art network security, privacy protection, and cyber extortion
ACE DigiTech addresses the evolving and increasingly costly risk of doing
business in the digital age, including liability arising out of the abuse of
computer networks and the loss of sensitive customer or business partner
information. Privacy liability coverage extends to hacker attacks and the
unintentional release of information, as well as the cost of combating
post-breach stakeholder fallout. Recognizing that the cost of overcoming loss
of consumer and investor confidence can be significant, ACE DigiTech will
also provide a data breach fund to cover the insured's expenses to notify
customers whose personal information has been compromised. This fund covers
such costs as legal, public relations and crisis management services to
restore a company's reputation.
"Today's companies operate in a high-risk business arena, where network
and information risks evolve at lightening speed and can hit corporate
reputations and balance sheets particularly hard," said David Brosnan, Chief
Executive Officer of ACE Canada. "Highly-publicized incidents involving the
theft or accidental loss of sensitive consumer data have brought identity
theft and the potential for related liability to the forefront. Against this
backdrop, companies gain a competitive advantage through prudent network
security and information management practices."
"In addition to client needs and emerging technology risks, ACE's years
of claims experience in handling technology and privacy matters has provided
us with the necessary insight to truly understand the intricacies of these
very complex events," said Michael Trendler, Vice President, ACE Professional
Risk. "We have also seen a significant increase in the number of privacy
incidents. As a result, we worked to strengthen those aspects of our
- Technology and Internet errors and omissions: Covers acts, errors
or omissions in the provision of technology services or the sale
of technology products.
Additional coverage available:
- Data breach fund: Covers first and third party expense, forensic,
consumer notification, legal and credit monitoring expenses.
- Electronic media liability: Covers infringement of copyright or
trademark, invasion of privacy, libel, slander, plagiarism or
negligence arising out of Internet content.
- Network 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. In addition,
provides coverage for regulatory proceedings brought by a
government agency alleging the violation of any provincial,
federal, territorial or foreign identity theft or privacy
- Privacy liability: Covers loss arising out of the organization's
failure to protect sensitive personal or corporate information in
- Cyber extortion: Covers extortion monies and associated expense
arising out of a criminal threat to release sensitive information
or bring down a network unless consideration is made.
- Miscellaneous professional liability: Covers acts, errors or
omissions in the provision of services beyond technology services.
To learn more about ACE Canada's professional liability portfolio, please
contact Michael Trendler at (416) 594-3073 or firstname.lastname@example.org or
(*)Product highlights are summaries only; please see actual policy for
terms, conditions and exclusions. Products remain subject to ACE Professional
Risk's underwriting criteria.
ACE Canada(R) refers to ACE INA Insurance and ACE INA Life Insurance,
subsidiaries of the ACE Group of Companies, headed by ACE Limited (NYSE:
ACE), and is rated A+ (Stable) by A.M. Best Company and A+ (Positive) by
Standard & Poor's. ACE Canada, through its underwriting companies, provides
insurance products and services throughout Canada. Additional information on
ACE Canada and its products and services can be found at
www.ace-ina-canada.com. The ACE Group of Companies provides insurance and
reinsurance for a diverse group of clients around the world.
For further information:
For further information: Media Contact: Lynn Woodburn, ACE Canada
Communications, (416) 594-3032, email@example.com