Some of the problems with standard polices when it comes to insuring Cyber Risks are as follows:
- Exclusions and definitions in policies limit cyber-risk coverage.
- Many companies do not have errors and omission coverage or such coverage contains security breach exclusion.
- Advertising injury coverage under General Liability does not completely address intellectual property infringement, content, and advertising offenses over the Internet.
- Under property policies, Business Interruption/Extra Expense is triggered if the direct loss is insured. Property direct losses were designed for physical assets and physical perils, not information assets and electronic risk.
- Intellectual property stored electronically is valued as “data.”
- Crime policies contain confusing exclusions and limitations with respect to employee dishonesty and computer fraud.
- Policy coverage is not global.
More insurance companies are addressing these issues by providing specifically designed coverage whilst at the same time standard forms of coverage are becoming more restrictive, with cyber risks exclusions appearing in property and casualty policies.
Businesses with a web site or a computer network face potential liabilities associated with the technology based risks of:
- intellectual property
- network security
- data integrity
For definitions of various forms of insurance refer to Insurance Marketplace
- A Guide to Computer Crime and Prevention
- Alexa – Web site stats.
- All Internet Security
- B to B online
- Canada Anti-Spam Legislation
- CGI Group Inc.
- ComputerCrime and Intellectual Property Section (CCIPS) – of the Criminal Division of the U.S. Department of Justice
- Computer Crime Research Centre
- David Hardesty – Current news and feature articles on taxation of e-commerce – for Net-entrepreneurs, tax advisors, educators, students, overnment policy makers.
- Destiny Solutions Inc
- Electronic Privacy Information Center
- Gibson Research International – Testing of firewalls and a host of other projects.
- Internet Archive (Wayback Machine)
- Kessler International
- Network Solutions
- Privacy Rights Clearinghouse
- Who is Source
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