Safeonline, ACE Global Markets Note Publication to Aid Senior Business Decision Makers

April 25, 2002

Digital risk insurance specialist Safeonline™ and technology insurance underwriter ACE Global Markets, have announced publication of a white paper to help senior business decision makers identify the steps they need to take to effectively manage their technology related exposures.

The white paper, called ‘Managing New Business Risks in our Technology Driven World,’ is a thorough explanation of how the profile of business risk has changed in the 21st century, and what senior executives must effect in order to reduce the risk of downtime, minimize new liabilities and remain competitive.

The white paper includes clear action points for the senior manager who wants to learn:

* How to identify the new risks their business faces.
* The essential steps they should take in order to safeguard their business and be compliant with relevant legislation.
* How taking preventative action will positively affect their ability to get digital risk insurance cover.

Harry Croydon, CEO of Safeonline remarked “Senior managers can’t afford to turn a blind eye to their digital risks unless they are willing to experience significant financial loss and damage to their reputation,” Safeonline CEO Harry Croydon remarked. “We have developed this white paper in order to provide a reference point for senior managers who want to know more about what they ‘can do’ about managing their digital risks rather than what they can’t. We also aim to remove some of the mystique around what digital risk insurers require businesses to do before they qualify for cover.”

Rick Welsh, class underwriter for technology risks at ACE Global Markets, added “It is in the best interests of the insurance industry to provide guidance on the best practices that enable businesses to operate securely. We are in a unique position to monitor emerging loss scenarios across a wide spectrum of industries given developments in technology and the law across the world. As an insurer we are looking to work with our clients to minimize their exposures, and so by stipulating that certain risk mitigation is in place, the insurance industry is helping drive up the standards for secure and reliable computing.”

The white paper can be downloaded at

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