ZUG, Switzerland--(BUSINESS WIRE)--Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today the launch of Allied World North America’s Privacy and Network Security insurance product, Privacy//101SM, tailored for the Canadian marketplace. Designed for small to mid-size companies, including law firms, healthcare and other organizations, Privacy//101 provides comprehensive protection in the event of a data breach involving lost or stolen private information, whether paper or electronic. The Privacy//101 product in Canada leverages the success of our U.S. product that has been in the market since 2011.
Privacy//101 provides coverage for costs associated with a data breach including: the costs of notification to all individuals whose private information has been lost or stolen; associated credit monitoring costs; public relations expenses; and costs incurred by the insured to retain a qualified data forensics firm. Privacy//101 also provides coverage for third-party financial claims, including legal fees and expenses incurred by the insured, and fines and penalties assessed pursuant to Canadian federal and provincial law.
Kent Paisley, Senior Vice President, Professional Lines, commented, “We continue building a world-class specialty insurance business in the Canadian marketplace and the release of the Privacy//101 product is our latest initiative. The product has been very successful for our U.S. clients and we are pleased to now offer this product in Canada. All businesses that store employee and client information are at risk for privacy exposures and we aim to help our customers mitigate that threat.”
For more information about Allied World’s comprehensive suite of privacy products, please visit the website at: http://www.alliedworldinsurance.com/product/9-110-142-493/privacy_liability_and_network_risk_insurance or contact Kent Paisley, Senior Vice President, Specialty Lines at email@example.com.
About Allied World
Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers superior client service through a global network of offices and branches. All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and our Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and AA- by Fitch.
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Any forward-looking statements made in this press release reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, our forward-looking statements could be affected by pricing and policy term trends; increased competition; the adequacy of our loss reserves; negative rating agency actions; greater frequency or severity of unpredictable catastrophic events; the impact of acts of terrorism and acts of war; the company or its subsidiaries becoming subject to significant income taxes in the United States or elsewhere; changes in regulations or tax laws; changes in the availability, cost or quality of reinsurance or retrocessional coverage; adverse general economic conditions; and judicial, legislative, political and other governmental developments, as well as management's response to these factors, and other factors identified in our filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We are under no obligation (and expressly disclaim any such obligation) to update or revise any forward-looking statement that may be made from time to time, whether as a result of new information, future developments or otherwise.