PHILADELPHIA, Jun 10, 2009 (BUSINESS WIRE) -- ACE Private Risk Services(SM), part of the ACE Group, today announced that it will offer access to a service that can provide comprehensive background screening of financial advisors, contractors, and domestic staff as part of its ACE Platinum Portfolio(SM) insurance program for affluent and high net worth clients. The inclusion of financial advisors and contractors (including both general and subcontractors performing work on the home) as well as domestic staff, represents an unusually broad scope of access for a personal insurance program. These innovations come at a time of rising concern in both areas.
In one case, an individual discovered that a loan for nearly
$200,000 had been fraudulently opened in his name. It turned out
that his long-time adviser had fallen into financial trouble and
couldn't resist the temptation to misuse his client's personal
information. Background screening may have raised a red flag in
such a case.
"Recent significant and highly-publicized investment industry misappropriations have made our clients more concerned about the trustworthiness of their financial advisors," said Bob Courtemanche, CEO of ACE Private Risk Services. "In addition, current market conditions have had a detrimental effect on the construction industry, and now more than ever, it is more important to know that contractors are financially sound and reliable when they work on your home. The value-added services we're providing through the ACE Platinum Portfolio program offer a solution to address these concerns."
To provide access to the screening services, ACE Private Risk Services has formed a strategic alliance with the International Intelligence Division of The Guidry Group, a U.S.-based consultancy specializing in security risk auditing and management. Many members of The Guidry Group have held previous senior investigative and security positions involving direct oversight of security issues for major businesses and federal government agencies in the United States and on a global basis.
"Affluent and high net worth families represent lucrative targets for fraud," said Mike Guidry, Founder of The Guidry Group. "They must be particularly careful when making hiring decisions. In relatively stable economic years, industry surveys indicate that two-thirds of all job applicants reported they have stretched the truth at least once in an effort to land a job. You can only imagine what the percentage is now in this time of economic stress. Our background screening should enable ACE Platinum Portfolio policyholders to make better hiring decisions as they recruit individuals who will take care of their children, their home, and their financial well being."
The screening process offered by The Guidry Group may include:
-- Comprehensive verification of background information, including name, address, age, date of birth, social security number
-- Employment and educational history
-- Employer and/or client references
-- Driving record, civil and criminal records
-- Business credit check and Credit Bureau check
-- Proprietary Internet data search
The comprehensive background screening process is provided on a complimentary or reduced-fee basis, depending upon the premium threshold and other factors. It complements other valued-added family safety and security benefits available in the ACE Platinum Portfolio program, such as coverage for medical and mental health expenses, lost salary, rewards for information leading to an arrest, and temporary relocation expenses in the event of carjacking, home invasion, stalking, child abduction, kidnapping and hijacking.
The ACE Platinum Portfolio provides specialized coverage for homes, vacation properties, automobiles, watercraft, jewelry and other valuables, and excess liability protection that in most cases, offers the savings of a package discount and the convenience of one bill. To obtain additional information regarding ACE Private Risk Services, please visit: www.aceprivateriskservices.com. Product highlights are summaries only; please see actual policy for terms and conditions. Products may not be available in all states. For more information about The Guidry Group, please visit www.guidry.com.
ACE Private Risk Services is the high-net-worth personal lines business of ACE Group, which provides specialty coverage for homeowners, automobile, recreational marine, umbrella liability and collections insurance for affluent individuals and families. The ACE Group of Companies is headed by ACE Limited (ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor's. The ACE Group provides insurance and reinsurance for a diverse group of clients around the world. To learn more about the ACE Group of Companies, please visit: www.acelimited.com.
SOURCE: ACE Private Risk Services
ACE Private Risk Services
Carla L. Ferrara, 215-640-4744
Copyright Business Wire 2009