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ACE Establishes Global Cyber Risk Practice; Toby Merrill Appointed Division Senior Vice President, Global Product Leader for

  ACE Establishes Global Cyber Risk Practice; Toby Merrill Appointed Division
  Senior Vice President, Global Product Leader for Cyber Risk and Privacy
  Coverages

Business Wire

NEW YORK -- April 4, 2014

ACE Group today announced the introduction of its Global Cyber Risk Practice,
established to address growing risks as legislation and exposures for privacy
and network security evolve around the world and customer demands for cyber
risk insurance and risk management solutions grow.

Toby Merrill (Photo: Business Wire)

Toby Merrill (Photo: Business Wire)

To lead the new global unit, Toby Merrill has been appointed Division Senior
Vice President, Global Cyber Risk Practice. Formerly Vice President and
National Product Manager for ACE’s network security, privacy and technology
E&O liability products in the U.S., Mr. Merrill will bring together the global
expertise, underwriting capabilities and services of ACE’s existing cyber
risk-related business units around the world, ensuring that ACE offers
best-in-class products and solutions for brokers and clients regardless of
location. Based in Philadelphia, Mr. Merrill will report jointly to Tim
O’Donnell, Executive Vice President, Financial Lines, ACE Overseas General,
and Scott Meyer, Division President, Professional Lines, ACE USA.

“ACE is already a global leader in cyber risk insurance, with specialist
underwriting, risk engineering and service capabilities spanning four
continents,” said Mr. O’Donnell. “Our new Global Cyber Risk Practice
represents a further commitment to provide seamless coverage for our
multinational customers. Cyber risk exposures have no boundaries, and ACE is
one of the few insurers capable of delivering truly global services to brokers
and clients.”

“We’re pleased to have Toby lead this initiative. His proven underwriting
success, demonstrated industry-leading knowledge regarding emerging cyber
risks, and track record in building broker and client relationships will
complement ACE’s strong and dynamic underwriting teams as we continue to build
out our offerings to meet the evolving risks and exposures of our clients,”
said Mr. Meyer. “As the cyber risk challenges that businesses face become
increasingly complex and global in scope, we need to ensure that we are
properly positioned to anticipate evolving customer demands. Under Toby’s
guidance, I am confident that ACE will be strongly placed to unlock the full
benefit of our global expertise for brokers and clients, and shape future
product development in a way that best matches their needs.”

The launch of the Global Cyber Risk Practice follows recent research on both
sides of the Atlantic that suggests cyber risk is now a top concern for
corporate risk managers. A study published in December 2013 by ACE in Europe
indicates that cyber risk was a top-three emerging risk issue for businesses
based in the region, with 40% of companies surveyed believing that it is one
of the emerging risks most likely to have a significant financial impact on
their business over the next two years. Meanwhile, in the U.S., cyber risk
ranked first in the list of emerging concerns for risk managers, and was cited
by 56% of respondents as a top concern for 2014-15 in research performed
during the same month by Business Insurance magazine. For more information
regarding the ACE cyber risk study, please see the EMEA Emerging Risk
Barometer.

Mr. Merrill brings nearly 20 years of insurance industry experience,
specifically in underwriting professional liability, management liability and
cyber risk exposures. In his most recent role as national product manager, Mr.
Merrill was responsible for product development and overseeing underwriting
operations for network security, privacy and technology E&O liability products
in the U.S., including for multinational businesses. He has authored a number
of articles on privacy, network and social media risks, and speaks frequently
on cyber risk and network security topics. Mr. Merrill is a graduate of
Franklin & Marshall College in Lancaster, PA, where he received a Bachelor of
Arts in Business Administration.

ACE’s privacy and network security offerings help businesses mitigate the
financial and reputational risks associated with privacy breaches, covering
first-party expenses and providing access to a suite of data breach
specialists and other important benefits. ACE’s data breach professionals,
combined with one of the company’s data breach endorsement options, bridges
the gap between risk transfer and purchased loss control, creating a
comprehensive risk management program for privacy, data breach and network
security risk.

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 ACE Group, is listed on the New
York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.
Additional information can be found at: www.acegroup.com.

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Contact:

Media:
ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com
or
ACE Global Communications
Arnella J. Forde, 212-703-7066
arnella.forde@acegroup.com
 
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