Cyberspace and Insurance
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Cyberspace insurance products
Let's examine a variety of the insurance products on the market that addresses issues related to e-commerce.

netAdvantage (AIG)
This policy is designed for companies that use the Internet for advertising and media activities. It is a worldwide, claims-made form. netAdvantage includes advertising and Webcasting and includes many perils of exposures inherent with the use of a Website.

netAdvantage pro (AIG)
This AIG product is designed for companies that provide services and products via the Web or that serve e-clients. Again, it is a worldwide, claims-made form. The policy ncludes coverage for liability arising out of computer hardware, software, or related equipment or any computer or electronic information technology services performed by the insured or others on the insured's behalf.

netAdvantage pro+ (AIG)
netAdvantage pro+ is designed for companies that are dedicated Internet businesses, including ISP, browsers, portals, and hosts. It offers worldwide, claims-made coverage for E&O claims arising from Internet services.

ProTech (AIG)
ProTech is designed in a modular format to provide E&O coverage for exposures involving technology, media, and communications. Like the other AIG products mentioned above, it is a worldwide, claims-made form.

National Union
National Union can provide media insurance policies for Website exposures, such as:
  • Patent infringement
  • Copyright infringement
  • EDP or software exposures

    The policy has limits up to $25,000,000.

    Safetytek (Stuckey and Company)
    For those looking for Internet CGL coverage, the Safetytek product offers limits of $300,000, $500,000, and $1,000,000.

    Multimedia Liability Insurance (Chubb Group)
    Chubb's Multimedia Liability Insurance provides coverage for infringement of copyrights and trademarks, including source code and content. With this insurance, the insured is covered for Advertising Injury and Personal Injury for both publishing and non-publishing activities.

    Chubb also offers the following:
  • Electronic computer crime coverage
  • EDP protection for financial institutions
  • Builders risk for telecommunications infrastructure projects

    InsureTRUST (Legion)
    InsureTRUST is designed for the insured that uses the Internet to:
  • Send and receive email
  • Browse Websites and user nets
  • Conduct e-commerce
  • Use an internal network
  • Store electronic data
  • Provide a means by which a 3rd person may gain access to the insured's internal network

    The InsureTRUST policy provides claims-made coverage for a network computer act or a multimedia act in connection with the network computer activity specified in the policy.

    InsureSITE (Reliance National)
    This policy provides Web merchants with Internet security liability coverage.

    Hartford Steam Boiler Inspection and Insurance Company
    Their Business Interruption policy can cover damages caused by breakdown of computer and communication systems.

    USF&G / Travelers / Aetna
    These companies were working on "equipment breakdown" protection for computers at the time of this writing.

    TruSecure (International Computer Security Association)
    This is the first security assurance service backed by hacker insurance. It can provide the coverage once the system has been certified by the association.

    The St. Paul Companies
    St. Paul's has a multitude of products available for high tech businesses providing computer hardware, software or, consulting services to other businesses.


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    Not only are policy forms, clauses, rules and court decisions constantly changing, but forms vary from company to company and state to state. This material is intended as a general guideline and might not apply to a specific situation. The authors, LunchTimeCE, Inc., CEfreedom, and Insurance Skills Center, and any organization for whom this course is administered will have neither liability nor responsibility to any person or entity with respect to any loss or damage alleged to be caused directly or indirectly as a result of information contained in this course.