AUTHOR : CAROL MOORE
The Importance of Cyber Insurance Like any metropolis, the web has neighborhoods, some safer and some horrific. Unlike any other metropolis, the web lacks a government, laws, or a police force. The only universally acknowledged cybercrime is the intentional spreading of computer viruses infectious software programs that could impair the experience of other cybertourists. Beyond this, there are no moral guidelines. A turn down the wrong cyberstreet guarantees exposure to information or images at least as corrosive as anything available in the streets of New York, Paris, or Tokyo and often even worse. Increasing reports of cyber intrusions, data theft and computer system malfunctions have led a rapidlygrowing number of companies to purchase insurance coverage to protect themselves from technology and cyber privacy risks. Indeed, as our technologydriven economy continues to evolve and businesses become more reliant on electronic communication and data storage, they are developing a heightened awareness that an unauthorized intrusion could endanger their tangible and intangible assets (including their intellectual property) and, in many cases, their reputations and abilities to conduct business. As such, prospective policyholders are becoming more cognizant of the necessity for insurance covering such growing exposures. There is still significant uncertainty about the nature and scope of cyber insurance products which might cover a company's technology and cyber privacy risks, whether the entity is in the technology space or in a vertical that uses technology to run its business operations. While businesses and their insurance brokers typically are knowledgeable about insurance policies covering traditional general and professional liability exposures, today's onlinesociety introduces new dynamics, many of which are not covered under traditional general and professional liability policy forms. The growing number of technology and cyber products offered throughout the global insurance markets highlights the importance of the insurance brokerage community and the value
of a sophisticated broker who can perform a thorough analysis of a policyholder's insurance needs, and who can work with underwriters to obtain and tailor insurance policies to meet those needs. Many businesses are experiencing and everincreasing capacity for work. As a result, you will also have a greater likelihood for technology errors and omissions liability. When it comes to protecting your business, you need an insurance plan that meets your needs. A technology insurance company can help to efficiently and appropriately quote technology errors and omissions liability insurance. For more information, visit site : http://www.insuringtech.com
Published on Feb 14, 2012
Our business is founded on courteous, accurate customer service. We care about our customers. InsuringTech.com have an unparalleled dedicati...