The ACE Group of Companies announced the launch of ACE elite II Public Offering of Securities Insurance (POSI).

The POSI, a single premium multi-year policy, offers enhanced insurance coverage. This coverage included data protection, privacy breach, delay or cancellation costs, and secondary offering.

ACE elite II POSI aims to protect against potential claims or investigations of companies, its directors, management, and shareholders. This protection covered roadshows and securities or debts offering-related documentation.

In addition, the ACE elite II POSI also covered sponsors of initial public offerings. Underwriters, who were indirectly dependent of the underwriting agreement's indemnification provisions, would also be covered by the POSI.

ACE elite II POSI will be available in Hong Kong, Malaysia and Singapore. "Stock exchanges in Hong Kong, Singapore and Malaysia are some of the most active in Asia and will likely continue as IPO activity is expected to intensify," said Stanley Wong, Financial Lines Manager, Asia.

The ACE Group of Companies was one of the largest multiline property and casualty insurer in the world.