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TheStreet Open House

New Podcast From ACE Provides Perspectives And Preventative Tips On Privacy And Network Security Risks For Public Entities

Stocks in this article: ACE

ACE USA, the U.S.-based retail operating division of the ACE Group, today announced the availability of a new podcast exploring the privacy and network security exposures faced by the public entity and educational sectors. “Privacy and Network Security: Understanding the Risks & Maximizing Solutions within Public Entities” is the first in an occasional series of recordings designed to provide topical information and relevant risk solutions for public entities. The podcast reviews appropriate notification responsibility and offers proactive steps that can be beneficial in the prevention of a future breach.

“Given ACE’s vast scope of comprehensive underwriting expertise and products designed to meet the specialized needs of the public entity sector, we are pleased to be able to offer this informational podcast series,” said Paul Cunney, Vice President, ACE Public Entity Practice Leader. “Our goal in the creation of this educational podcast is to address the timely and relevant privacy issues affecting public entities, and share useful and targeted solutions to help them manage the escalating risks they face.”

The new ACE podcast includes commentary from Mr. Cunney and Mr. Merrill, Vice President, ACE Professional Risk, who oversees the Technology and Privacy/Network Security Liability product for that group. It examines the dramatic rise in privacy and network security exposures among municipalities and school districts. “According to the Privacy Rights Clearinghouse, as of August 2012, there have been 124 known breaches in the Public Entity and Educational sectors to date,” said Mr. Merrill. “Cyber privacy risks pose a great concern to public entities. It’s not only important to understand what specific exposures may exist, but also to take action to properly address and mitigate any future risks of data breaches that will help protect their stability and financial health.”

Once a breach occurs, public entities not only need to address the data breach, but also likely bear the responsibility for the costs associated with the event. This podcast outlines some preventative tips that may assist public entities when facing these risks. “We hope the podcast will provide some insight as to the potential risks associated with privacy and security concerns, and the need to work with an insurance carrier with a robust breadth of underwriting and claims expertise. Reviewing data stemming from previous breaches, and applying that knowledge to take appropriate proactive risk measures, can enable public entities to help protect themselves against future exposures,” said Mr. Cunney.

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