ACE USA, the retail operating division of the ACE Group of Companies, has announced that it will now offer to small businesses its ACE Privacy Protection Policy, which is designed to minimize the risks and mitigate the impact of privacy and other network risk exposures in the current digitally-driven global business arena.
The ACE Privacy Protection Policy is offered through ACE commercial risk services, which provides specialty products and solutions for small businesses, and underwritten by the ACE professional risk underwriting unit.
The company has said that the ACE Privacy Protection policy is comprised of three main coverage components: privacy liability, identify theft response fund and network security liability. There are also optional coverages available to protect small business owners, including, internet media liability and cyber extortion. Taken together these coverages provide protection for customers who maintain websites, databases and are involved with electronic commerce-related initiatives.
Michael Baeurle, senior vice president of commercial risk services at ACE, said: Regardless of its size, businesses that are entrusted with sensitive consumer, employee or business data need to take a proactive approach to protecting the private information their organization maintains. Any breach of data that has been entrusted to an organization can bring irreparable damage to its reputation, its business and its balance sheet.