Expert Commentary

Stand-Alone E-Commerce Market Survey

This newly revised chart lists the current stand-alone e-commerce insurance policies being offered. Some policies cover both first-party losses and third-party liability claims, others just one or the other. See what coverages are available and how to contact the appropriate insurer, MGA, or broker.


Cyber and Privacy Risk and Insurance
July 2001

This chart lists examples of stand-alone e-commerce insurance policies. Some of the listed forms cover both first-party losses and third-party liability claims. Some of the forms cover only one or the other of these two types of risks. And with regard to first-party risks, some of the forms cover only the insured's direct loss, while some also cover the insured's liability to others for loss (e.g., employee theft, third-party theft). Accordingly, the description of coverages is for general information only, and the actual coverage provided by each listed policy is subject to the terms and conditions of that policy.

With respect to the contact information provided, in most cases it directs you to a general home page of a website. Since it can be frustrating to try to obtain information about products from websites, often the quickest way to get information and/or policy wording is by contacting an insurance broker (who works in this area) and/or the insurer itself to ask for a copy of the policy (preferably an electronic copy).

Any insurer listed below that believes that its product has been characterized incorrectly, please direct comments to Michael Rossi. Any such incorrect characterization is not intentional and will be corrected if we are advised of the error. Any insurer who is not listed below that sells stand-alone e-commerce insurance and who wants to be listed in the chart, please send contact information and a copy of your policy form to Michael Rossi, whose address and other biographical information can be accessed by clicking on his name above. Also see the Insurance Law Group website at www.inslawgroup.com.

Insurer, Managing General Agent, or Insurance Broker Policy Name 3rd Pty. Crime Employee Dishonesty BI and EE Extor-
tion
Prof. Svcs. Liab.
Media E&O Liab.
Policies Sold in the U.S.
AIGNetAdvantage Pro + Internet Professional Liability Policy No NoNo NoYes Yes
AIG NetAdvantage Security + Internet and Computer Network Security PolicyYes YesYes YesNo Yes
AIG
Net Advantage Liability Internet and Professional Security Liability InsurancePartial: for liability arising therefrom Partial: for liability arising therefromNo YesYes Yes
AIG ProTech Technology Liability Insurance PolicyNo NoNo No Yes Yes
Chubb Cyber SecurityYes YesYes Yes No No
Chubb Executive Risk Safety'Net Internet Liability InsuranceNo NoNo No No Yes
Hiscox Hacker InsuranceYes YesYes Yes Yes Yes
Legion Indemnity CompanyINSUREtrust Electronic Information E&O (EIE&O) Liability PolicyPartial: for liability arising therefrom Partial: for liability arising therefromNo No Yes Yes
Lloyd's Computer Information and Data Security InsuranceYes YesYes YesYes Yes
Lloyd's (WISP) Website Crime & Intranet Insurance Yes YesYes YesNo No
Lloyd's (Besso) Technology, Media and Professional Liability Insurance No NoNo NoYes Yes
Lloyd's (JLT Risk Solutions) E-Comprehensive Yes YesYes YesYes Yes
Marsh NetSecure Yes YesYes YesYes Yes
Media/Professional Liability (Gulf) CyberLiability Plus Insurance Policy No NoNo> NoYes Yes
Royal Surplus Lines Computer, Telecommunications and Internet Services Liability Coverage No NoNo NoYes Yes
St. Paul Technology Premier Computer Network Security Protection (Networker) Yes YesYes YesNo No
St. Paul Cybertech+ Liability No NoNo NoYes Yes
Tamarack(Great American) Dot.Com Errors and Omissions Liability Insurance Policy No NoNo NoYes Yes
Zurich North American Financial Enterprises E-Risk Protection Policy Yes YesYes YesNo Yes
Policies Sold in Europe
ACE Europe DataGuard Yes YesCan be added YesNo No
Hiscox Hacker Insurance Yes YesYes YesYes Yes
Lloyd's (JLT Risk Solutions) E-Comprehensive Yes YesYes YesYes Yes
Marsh NetSecure Yes YesYes YesYes Yes
Park Insurance Services Internet Insurance No NoNo NoYes Yes
Zurich North American Financial Enterprises E-Risk Protection Policy Yes YesYes YesNo Yes
Policies Sold in Australia
Marsh NetSecure Yes YesYes YesYes Yes
St. Paul Technology Premier Computer Network Security Protection (Networker) Yes YesYes YesNo No
St. Paul Cybertech+ Liability No NoNo NoYes Yes

Opinions expressed in Expert Commentary articles are those of the author and are not necessarily held by the author's employer or IRMI. Expert Commentary articles and other IRMI Online content do not purport to provide legal, accounting, or other professional advice or opinion. If such advice is needed, consult with your attorney, accountant, or other qualified adviser.

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