ACE Launches New Cyber Risk Insurance Proposition for Sweden, Expands European Cyber Practice to Stockholm
April 20 2015 - 5:52AM
Business Wire
ACE Group today announced the launch of a new cyber risk
proposition for Sweden and named Henrik Petersson, Property
Underwriter for ACE in the Nordics, as a cyber expert for clients
and brokers in the country, as it continues to build its insurance
capabilities in this growing area of emerging risk.
The proposition includes a wording specifically designed for the
needs of companies in Sweden. It brings together ACE’s
comprehensive insurance solutions for computer hardware and first
and third party cyber liability risk cover into a single policy,
combined with detailed risk analysis to help Swedish companies
identify the right security measures and cover for their own
specific needs.
The new proposition includes cover for a wide range of cyber
risks, including:
- Business interruption loss due to a
network security failure or attack
- Data loss and restoration including
decontamination and recovery
- Delay, disruption, and acceleration
costs from a business interruption event
- Legal costs, including exercising
contractual indemnity
- Crisis communications expenses
- Liability arising from failure to
maintain data confidentiality and unauthorised network use
The new proposition follows the recent launch of ACE’s new cyber
practice for Continental Europe which brings together, in a single
expanded team, the company’s expertise across the region with the
objective of empowering local decision-making and strengthening
broker and client relationships for both middle market and larger
accounts.
Bror Sandas, Country President, Nordics at ACE, said:
“The launch of our new cyber risk proposition in Sweden and the
expansion of our European cyber practice in the country mark a
significant step forward in our strategy for the Nordics. It offers
our clients in the country market-leading cover for a risk that
ACE’s research indicates it is a top concern for risk managers in
the Nordics. At the same time, our partner brokers and clients in
the region will now have access to our global knowledge and
experience in cyber risk.”
Kyle Bryant, Regional Cyber Manager for Continental Europe at
ACE, said:
“Having asked brokers and clients what they most value from
their cyber insurance partners across Europe, we know that access
to local decision-makers and the ability to build flexible and
tailored solutions are paramount. With the new cyber risk offering
and Henrik’s extensive cyber risk expertise, ACE is exceptionally
well placed to help deliver the service and market-leading
solutions our brokers and clients in Sweden deserve.”
ENDS
About ACE:
ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident and supplemental health insurance, reinsurance and life
insurance to a diverse group of clients. ACE Limited, the parent
company of the ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index.
Visit www.acegroup.com/eu
ACE GroupNicholas MandalasRegional Communications Manager,
Europe, Eurasia & AfricaT: +44 20 7173 7793E:
nicholas.mandalas@acegroup.com
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