REDT.L Regulatory News (REDT)

2 Dec 2005 07:02

ARC RISK MANAGEMENT GROUP PLC Customer Agreement Launch of red24alert and Identity Theft Assistance Services for Hiscox Plc Policyholders Arc Risk Management Group Plc announces a further agreement with its existingclient, Hiscox Plc, to provide Hiscox Direct policyholders with the red24alertservice, offering them and their immediate families access to a freeon-the-ground response service from red24 in the event of their suffering alife-threatening security incident, whether at home or abroad.The agreement also sees Hiscox Direct policyholders and their immediatefamilies automatically become members of red24's Identity Theft Assistanceservices, in response to the rising number of incidents of identity theft inthe UK. Since January 2004 Hiscox has been providing all of its home insurancepolicyholders with free direct access to the standard red24 service, offeringsafety and security advice.The service will be available to new and existing customers from 1 December, tocoincide with the start of the Christmas period when the risks of fraud areheightened.Identity theft occurs when an individual's personal details are replicatedfraudulently to open bank accounts, obtain credit cards, loans, state benefitsand documents such as passports and driving licenses. Last year, 135,000 peoplewere victims of the crime, compared to just 20,000 in 1999. Overall, identitytheft costs the British economy over ‚£1.3 billion annually.Kevin Kerridge, Head of Direct Business, Hiscox commented:"Identity theft is invasive, distressing and increasingly common. It can affectanyone, and can take months or even years to unravel without dedicatedprofessional help. The new service is designed to both alleviate worries overfalling victim to identity theft and provide rapid assistance to minimise theimpact on a victim's circumstances."Simon Wakeling, Director, Arc Risk Management plc, commented:"Hiscox policyholders can take comfort through the comprehensive protectionafforded by red24's membership services. As a result of this and otheragreements with global companies in the financial services industry, we arewitnessing significant growth in our membership base and look forward toannouncing further developments in the coming months." 2 December 2005ARC Risk Management Group plc Tel: 0208 080 0218 Simon Richards, Chairman Simon Wakeling, Director Hansard Communications Tel: 020 7245 1100 Nicholas Nelson Notes to Editors:About HiscoxHiscox plc is a specialist insurance group listed on the London Stock Exchangewhere it has a market capitalisation of circa ‚£580million. There are three mainunderwriting parts of the Group - Syndicate 33 at Lloyd's of London, UK Retailand International Retail. Syndicate 33 underwrites mainly internationallytraded business in the London Market - generally large or complex businesswhich needs to be shared with other insurers or needs the internationallicences of Lloyd's. The UK Retail business offers a wide range of specialistinsurance for professionals and business customers, as well as high net worthindividuals. Hiscox has offices throughout the UK in Birmingham, Bristol,Colchester, Glasgow, Leeds, London and Maidenhead. Hiscox's internationaloffices are located in Amsterdam, Bermuda, Brussels, Dublin, Guernsey, Madrid,Munich, New York and Paris. Hiscox is Europe's foremost specialist insurer ofhigh value homes and fine art. For further information, go to www.hiscox.comAbout red24red24 is provided by ARC Risk Management Group plc, an AIM quoted company whichprovides security risk management services on a worldwide basis. The ARCheadquarters and training centre is based in the United Kingdom, with a 24 hourinternational operations and call centre in South Africa, and a number ofassociated offices worldwide. ARC Risk Management offers security managementconsultancy covering a number of risks such as kidnap, extortion, civil unrest,product contamination, cyber crime and fraud.Further information on the Company can be found at www.arcrisk.com.The latest red24 information can be found on www.red24.info.Example of red24¢â€ž¢ in actionReturning from a holiday abroad, a customer was contacted by a credit cardcompany's fraud department to say they had received a new card application andwanted to check the details. Although all the personal details held by thecredit card company were correct, the customer had not applied for a card. Itwas evident that his identity had been compromised. The client immediatelycontacted the red24 identity fraud helpline who dispatched a consultant to gothrough the reinstatement process with the customer face to face. red24 alsohelped implement security measures on the customer's computer and filemanagement systems to help prevent his details from being compromised infuture.Press release2 December 2005ENDARC RISK MANAGEMENT GROUP PLC