ACE Global Markets Announces New Privacy And Security Insurance Policies:
Underwriting Criteria Requires URAC HIPAA Accreditation
WASHINGTON, Jan. 6 /PRNewswire/ -- URAC announced today that ACE Global
Markets, a subsidiary of ACE Limited and one of the world's leading providers
of insurance and reinsurance, will mandate URAC's HIPAA Privacy and/or Security
Accreditation programs for several new insurance policy offerings. The
institutional privacy and security protection policies are available exclusively
to URAC-accredited companies through Healthcare First, a unit of the Brokerage
Services Division of Arthur J. Gallagher & Co.
(Logo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030501/URACLOGO ) "ACE Global Markets is one of the most innovative providers of insurance,
reinsurance and financial products and services in today's global marketplace,"
said Rick Welsh, financial lines underwriter at ACE Global Markets ("AGM") in
London. "The policies provide liability coverage for exposures such as privacy
and security violations, specific HIPAA damages, unauthorized access,
ePublishing violations, and Web content liability." "These new insurance offerings will help indemnify corporate policyholders from
damages resulting from HIPAA events, such as unauthorized disclosures of
protected health information (PHI), and is an effective risk-management strategy
for many organizations," said Healthcare First President David Wynstra.
"Healthcare First is pleased to offer the new policies exclusively to
URAC-accredited organizations on behalf of AGM." "This recognition of URAC's accreditation programs by ACE Global Markets
validates the quality, value and importance of our privacy and security
standards in promoting best practices," said Garry Carneal, URAC president and
CEO.
An audit conducted on behalf of AGM by NetDiligence, a network security firm,
found URAC HIPAA accreditation reduces the overall general privacy and security
risk for companies. The NetDiligence report also found URAC accreditation can
significantly mitigate the potential risk of incurring penalties from
non-compliance with the HIPAA Federal Rules for all types of health care
organizations, including business associates and covered entities.
For more information about the ACE Global Markets' insurance products, please
contact Dave Wynstra at (415) 536-8473 or . For information on all of URAC's
HIPAA solutions, including accreditation, contact Eamon Bobowski at (202)
962-8835 or .
ACE Global Markets is an operating subsidiary of ACE Limited (NYSE:ACE) and one
of the ACE Group of insurance and reinsurance companies. The ACE Group provides
insurance and reinsurance for a diverse group of client and conducts its
business on a global basis, with operating subsidiaries in nearly 50 countries. Additional information can be found at: http://www.acelimited.com/.
Itasca, Ill.-based Arthur J. Gallagher & Co. is the world's fourth-largest
insurance brokerage and risk management services firm. Gallagher's diverse team
of over 200 healthcare industry insurance professionals, located in regional
offices throughout the U.S., devise customized solutions for clients based on
their specific needs.
URAC, an independent, nonprofit organization, is well-known as a leader in
promoting health care quality through its accreditation and certification
programs. To meet the growing need of health care organizations in addressing
their changing use of information technology, URAC launched several new programs
and services in 2003 including HIPAA Privacy and Security Accreditation
programs. Over 75 organizations are in-process or have completed URAC HIPAA
accreditation resulting in 150 accreditation certificates. http://www.newscom.com/cgi-bin/prnh/20030501/URACLOGO http://photoarchive.ap.org/ DATASOURCE: URAC CONTACT: Danielle Potuto of URAC, +1-202-216-9010, ext. 8829, or Web site: http://www.urac.org/ http://www.acelimited.com/
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