Source: ACE Jerneh In­surance Ber­had, 28 Au­gust 2012

Insurance - - COMPANY CORNER -

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.”

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