ACE USA, the U.S.-based retail operations of the ACE Group, has introduced the privacy and network security liability endorsement to both the healthcare facilities and managed care organization policies. This endorsement is designed to complement ACE Medical Risk’s professional liability, general liability, and errors and omissions policies. It offers insurance to help protect computer networks and websites, as well as safeguard sensitive patient, customer, employee, and third-party corporate information.
ACE helps managed care organizations and healthcare facilities mitigate the financial and reputational risks associated with privacy breaches and covers first-party expenses and third-party liability claims. It also provides access to a data breach specialists and other important features, including:
- Access to the Data Breach Team, an independent panel of specialists in the legal, computer forensics, notification, call center, public relations, fraud consultation, credit monitoring, and identity restoration service areas, addressing both financial and medical identity theft
- Free access to the eRisk Hub, a web-based loss prevention resource containing information and technical resources to help policyholders manage their privacy and network risk
- Coverage for breaches of confidential patient, consumer, corporate, and employee information
- Coverage for wrongful acts of an insured and its service providers such as business associates as defined under HIPAA and HITECH
- Coverage for regulatory fines and penalties, including HIPAA and HITECH
ACE Medical Risk & Life Sciences, a division of ACE USA, provides primary and excess medical professional liability for hospitals and miscellaneous healthcare facilities, and managed care errors and omissions coverage. Its other offerings include products liability for clinical trials, biotechnology, and specialty pharmaceutical companies, as well as a package policy that includes property, auto and crime coverages.
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