ACE Digital Technology & Professional Liability ... - ACE Group

ACE Digital Technology& Professional LiabilityInsurance Program(ACE Digi Tech®)

ACE Digital Technology & Professional Liability Insurance Program(ACE Digi Tech®)Technological development is growing rapidly.It also increases the emergence of technologybasedcompanies and the risks related to errorsand omissions.At Ace Insurance we understand these risksand thinking in your needs, we create theDigital Technology & Professional LiabilityInsurance Program (ACE Digi Tech®). This isa professional liability and network risk insuranceprogram, targeted to the evolving needs of thetechnology industry.DO YOU THINK THIS POLICY IS NOT NECESSARY?Consider the following situations that happened to some technology companies:1Two hackers cracked thecomputer systems of amajor market research firmand subsequently obtainedconfidential corporate records.The stolen files includedemployee photographs, networkpasswords and personalcredit card numbers of somesenior managers. The hackersthreatened to reveal the securitybreach to the company’s clientsunless the Board of Directorspaid them a “consulting fee” of$200,000. Upon retaining expertcybercrime investigators, thehackers were apprehended andprosecuted. The research firmspent approximately $1,000,000in investigative and publicrelations fees.2 3An online service allowed afamous author to advertise abook in one of its forums. Theonline service was sued forcopyright infringement by anartist who claimed that the authorused certain artwork on the coverof his book without getting theartist’s permission. The case wassettled, but the cost for legal feesamounted to $25,000.An e-tailer brought suit against aWeb designer for damages. Thee-tailer sustained as the resultof the unauthorized access of itsprivate data files by a “hacker”.The suit alleges that the Webdesigner negligently designedthe e-tailer’s Web site by notproviding adequate safeguardsto prevent such type of intrusion.The Web designer insurancecompany covered the amountasked by the lawsuit cost andthe legal process, which wasapproximately $100,000.

ACE Digi Tech® is a tailor-madesolution that provides protectionin respect of:• Product disparagement, trade libel, inflictionof emotional distress, mental anguish,outrage or outrageous conduct• Plagiarism, piracy (excluding patentinfringement), or the misappropriation orunauthorized use of advertising ideas/material, titles literary or artistic formats,styles or performances• Invasion or infringement in violation of anindividual’s right privacy or publicity• Negligence with respect to insured creationor dissemination of electronic content• Infringement of copyright, domain name,trademark, trade name, trade dress, title orslogan, service mark or service name• Among othersACE Digi Tech® highlightsliability covers are:• Technology and internet errors andomissions liability• Electronic media Activities liability• Network operations security liability• Privacy liability• Identity theft public relations expense fund• Cyber extortion liability• Miscellaneous professional liability (ifrequired)ACE Digi Tech® coversadvantages• Network extortion threat• Admitted and non admitted capability• Data breach fund up to 250k• Legal defense costs and claims.• Entire company staff coverage• Coverage for signatures, ensuring all its past,present and future partners, stockholdersand trustee.• Coverage for independent professionals,join venture, companies and independentcontractors on behalf of the insured• Coverage for spouses and heirs• Protection option for events that occurredbefore the effective date of the insurancecontract.• Policy limits available up to 10m• Meditiation & Arbitrary incentives• ERP “Tail” available up to 3yrs• Worldwide coverageMarketACE Digi Tech® offers a variety ofproducts designed to help technologycompanies reduce the risks of embracinginternet-related business activities for:General technology servicesConsultants/ integrators of hardware,software and system architectureApplication services providersData processorsSoftware developersAmong others