ACE JERNEH INTRODUCES FRAUD PROTECTION INSURANCE
Source: ACE Jerneh Insurance Berhad, 28 August 2012
ACE Jerneh Insurance Berhad (ACE Jerneh), part of the ACE Group of Companies, one of the world’s largest multiline property and casualty insurers, announced the launch of its latest product innovation, the ACE elite II fraudProtector that provides cover for direct financial loss suffered due to a crime.
With the increasing sophistication of technology, fraud and cybercrime have become more prevalent today and is a growing threat to businesses despite regulation and increased internal controls. Companies which are victims of such crimes do not only suffer financial loss but also face the risk of losing their customers. ACE elite II fraudProtector is an innovative crime product designed to provide broad cover for any type of commercial enterprise at a time when the business needs the protection the most. The product provides coverage for:
1. Direct financial loss as a result of fraud or
dishonesty by employees 2. Third party computer crime, forgery or counterfeit 3. Theft, physical loss or damage of money, securities
or property 4. Client loss 5. Fees, costs and expenses incurred for investigation, legal defence and restoration of the Insured’s computers following a covered loss
“Fraud can happen anytime, anywhere and it is important that companies put in place plans to mitigate the risk of fraud as part of their risk management program,” said Steve Crouch, Country President of ACE Jerneh.
He added, “ACE has been insuring all types of entities, both for-profit and non-profit, against fraud globally. We have a strong capital base that can deal with major exposures and an international network of claims centres and risk control professionals who know how to help clients reduce risk and loss costs.”