Maloy Risk Services Expands Suite of Insurance Products Offered to New Jersey Technology Council Members

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Adds Personal Lines Coverage through ACE Private Risk Services

"We’re excited to add personal insurance to the NJTC program,” said Richard A. Maloy Jr., CEO of Maloy Risk Services

Maloy Risk Services, Inc., the sponsored insurance broker to the New Jersey Technology Council (NJTC), a trade organization that serves as an advocate of technology companies and their leaders, has added ACE Platinum Portfolio® to the suite of discounted products already being offered to the membership. Underwritten by ACE Private Risk Services, the high net worth personal lines business of the ACE Group, this offering provides Home, Auto, Umbrella Liability, Yacht/Watercraft, and Valuable Collections insurance to eligible individuals of member companies with a five-percent discount on all lines of coverage.    

"We’re excited to add personal insurance to the NJTC program,” said Richard A. Maloy Jr., CEO of Maloy Risk Services. “For ten years we have provided tailored commercial insurance products to member companies including the Commercial Package Policy, Directors and Officers/Employment Practices Liability, and Errors and Omissions, bringing cost-effective insurance solutions to NTJC’s membership. The next logical step was to broaden our suite of offerings, to help individuals within the member companies on a personal lines basis. Car and home insurance in New Jersey is always an issue and with ACE we bring a seasoned player, best-in-class coverage and reduced pricing using the five percent group discount,” Maloy concluded.

Maxine Ballen, President of the NJTC commented “We are always trying to find valuable offerings to bring to the membership. The Maloy insurance program has been one of our most successful and long standing member benefits. Adding ACE with their portfolio of personal insurance products is exciting. We finally have an offering that will impact the individuals within our membership and not just the member company. This is a powerful tool for the member companies to be able to offer a special discount on high quality home, auto and umbrella coverage as a result of their association with the NJTC.”

“Our knowledge and services for clients with substantial assets to protect made partnering with the NJTC and Maloy an easy decision,” said Lori Pakrul, Territory Manager for ACE Private Risk Services. “Maloy has years of experience with association marketing and is firmly entrenched within the NJTC. The affluent clientele of the NJTC also fit with our strategy for growth in New Jersey in the personal lines arena. We are excited about the launch and showing our product capabilities to this select group of individuals,” she added.

ACE’s program, called the ACE Platinum Portfolio®, offers customized protection in one comprehensive package to meet the complex needs of individuals and families with substantial assets, and is backed by a unique combination of financial strength, stability and service excellence.

Eligible members will receive an insurance consultation from Maloy’s personal lines representatives, who will work with ACE directly, to secure pricing and coverage options that fit the participant’s needs. Member accounts will be individually underwritten, making this attractive benefit available at no cost to the member organization.

ACE Private Risk Services:
ACE Private Risk Services is the ACE Group’s high-net-worth personal lines business, which provides specialty coverage for homeowners, automobile, recreational marine, umbrella liability and collections insurance for affluent individuals and families. Additional information can be found at: http://www.aceprivateriskservices.com. Celebrating 25 years of insuring progress, the ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: http://www.acegroup.com.

New Jersey Technology Council:
The New Jersey Technology Council provides business support, networking opportunities, information, advocacy and recognition of technology companies and their leaders. Founded in 1996, NJTC's almost 1,000 member companies work together to support their own enterprises while advancing New Jersey's status as a leading technology center in the United States. For more information, please visit: http://www.njtc.org.

About Maloy Risk Services, Inc.:
Maloy Risk Services, Inc. is a leading provider of property and casualty insurance brokerage and risk management services to the hedge fund, venture capital, life sciences and technology industries. Maloy Risk Services has offices in New York City, Princeton, NJ and Atlanta, Georgia. To learn more about Maloy Risk Services, please visit their web site, http://www.maloyrs.com.

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Robyn Fonde
The CBK Group
201-556-9404
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