ACE USA has launched the Privacy and Network Security Liability Endorsement to help expand privacy protection coverage for both Healthcare Facilities and Managed Care Organization policies.
Complementing the ACE Medical Risk’s existing Professional Liability, General Liability, and Errors and Omissions policies, the new endorsement provides insurance for safeguarding computer networks and websites, as well as sensitive patient, customer, employee and third-party corporate information.
ACE Medical Risk & Life Sciences executive vice president Caroline Clouser said the endorsement helps policyholders in management of their privacy and network risk, apart from providing access to the ACE Data Breach Team.
”In essence, this team can assist with fraud consultation, identity restoration, monitoring services and required notifications, all in an effort to help protect the reputation of our customers,” Clouser added.
ACE Professional Risk vice president Anthony Dagostino said, ”This innovative product combines insurance protection with a broad choice of expert resources to help policyholders reduce the likelihood of a data breach, provide immediate assistance in the event of a breach, and develop a strong response against possible ensuing regulatory or legal actions.”
The company enables managed care organizations and healthcare facilities to reduce financial and reputational risks related to privacy breaches, by providing first-party expenses, third-party liability claims and access to a suite of data breach specialists.