E-Commerce
Insurance Policies
Barbara Ewing
Vice President,
e-Business Solutions Underwriting
Zurich North America Financial Enterprises
The insuring agreements
available
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Business Income Loss and Extra
Expense Coverage
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Dependent Business Income
Intellectual Property Recreation Costs
Public Relations Expenses
Liability from a breakdown in security
The insuring agreements
available
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Electronic Publishing Liability
Computer Theft
E-Business Extortion
Rewards
Basics of e-commerce
underwriting
Not a cut and dry process
Qualifications:
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Well-managed
Financially sound
Good computer system controls
Good computer crime and bond loss
experience
Basics of e-commerce
underwriting
Qualifications (cont.):
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Minimal incidents of unplanned
downtime as a result of poor security
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If significant parts of the IT operations
are outsourced, then that vendor
should be underwritten
The actuarial challenges
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Lack of credible historical data
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Lack of judicial precedence
Written on E&S paper
1st and 3rd party coverages in one
policy
Worldwide coverage
Rating factors to consider
•Size of insured
•e-business activities
•IT security
•Amount of e-business income
•Web site content
•Electronic information stored
Q&A