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The insuring agreements available

E-Commerce Insurance Policies Barbara Ewing Vice President, e-Business Solutions Underwriting Zurich North America Financial Enterprises. The insuring agreements available. Business Income Loss and Extra Expense Coverage Dependent Business Income Intellectual Property Recreation Costs

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The insuring agreements available

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  1. E-Commerce Insurance PoliciesBarbara EwingVice President,e-Business Solutions UnderwritingZurich North America Financial Enterprises

  2. The insuring agreements available • Business Income Loss and Extra Expense Coverage • Dependent Business Income • Intellectual Property Recreation Costs • Public Relations Expenses • Liability from a breakdown in security

  3. The insuring agreements available • Electronic Publishing Liability • Computer Theft • E-Business Extortion • Rewards

  4. Basics of e-commerce underwriting Not a cut and dry process Qualifications: • Well-managed • Financially sound • Good computer system controls • Good computer crime and bond loss experience

  5. Basics of e-commerce underwriting Qualifications (cont.): • Minimal incidents of unplanned downtime as a result of poor security • If significant parts of the IT operations are outsourced, then that vendor should be underwritten

  6. The actuarial challenges • Lack of credible historical data • Written on E&S paper • 1st and 3rd party coverages in one policy • Lack of judicial precedence • Worldwide coverage

  7. Rating factors to consider Size of insured e-business activities IT security Amount of e-business income Web site content Electronic information stored

  8. Q&A

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