Cyber Liability Insurance
The internet is changing the way that companies conduct their business,
bringing greater opportunities to cut costs and win new revenue. Indeed,
most companies today have a web presence, and are either transacting
e-business or seeking to develop an e-commerce strategy.
However, this new business medium also brings a significant increase
in risk not only for those companies that have a world wide web presence,
but also for those that use the internet, electronic mail, an intranet
In this high-tech world companies will:
- Probably have a computer network that allows for internal e-mail
- Probably have a connection to the internet and have the ability
to send and receive e-mail all over the world
- Be likely to have their own web site containing information about
the company, their products and their services
They may also be:
- Transacting business, selling products or services over the web
and accepting credit card transactions
- Maintaining a client or other database of information that could
be of a confidential nature
- Providing information or advice on specific business-related topics
The media frequently highlights examples of the e-dangers that companies
face and actual incidents that have occurred, the most recent being
security breaches at AOL (America On Line), Yahoo and the alleged
theft of thousands of credit card details from a leading e-commerce
web site in Thailand.
Recognising the serious exposures faced, we at Trafalgar have tailored
a product to protect clients against financial loss arising out of
their operation of their world wide web sites or use of the internet,
electronic mail, or intranet/extranet.
Our policy, underwritten by local and international insurers, protects
against financial loss to the company arising out of:
- Infringement of intellectual property rights:
The law of copyright extends to a publication on the Internet
and applies in respect of graphics, sound and almost any other
material transmittable on the Internet.
- Breach of confidence or infringement of any right to privacy
- Misuse of any information, which is either confidential or
subject to statutory restrictions on its use:
Companies could be in breach of any data protection legislation
if a third party gains unauthorised access to their records via
the Internet and obtains personal data held on their system.
Companies have a direct responsibility for the content of their
web sites and could have a potential liability for the content
of employees e-mails.
- Inadvertent transmission of a virus:
Companies could face claims as a result of damage to third-party
software or hardware as a result of third parties downloading a
virus via emails from the company or from its Web site.
- Damage to the Web Site itself:
A hacker could maliciously tamper with your site causing its
alteration, destruction or damage.
- Legal costs incurred in the defence of an action for loss
Premium costs vary depending upon the size of your web presence and
the nature of your business, but are very competitive. If you are
interested in a quotation, please download the proposal (cyb_prop.zip), complete it, and either
fax it to us on (66) 0-2645-1180 or e-mail it to firstname.lastname@example.org.
We will respond within 48 hours.
If you have any questions or would like a specifically-tailored program,
please contact email@example.com.
We will respond quickly.
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