Product: CyberLiability Plus Programme™
Designed for: Internet access providers, commercial online services, SYSOPS, forum managers, online service vendors, computer systems analysis and design, packaged and custom software programming, batch and online data processing, value-added sale of software/hardware for others, and website owners.
Key Cover: Insurance for third party liability claims alleging financial loss caused by a wrongful act arising from insured services while performing cyberspace activities. Definition of "wrongful act" includes cover for error, omission or negligent acts; libel, slander and invasion of privacy or publicity; infringement of copyright, trademark, title or slogan; plagiarism, passing off or misappropriation of ideas; and failure to prevent unauthorised access. Optional cover may include insurance for third party claims arising out of contingent bodily injury and property damage.
Territory: Universal.
Jurisdiction: Universal.
Qualifications: Prefer applicants who have been in operation at least three years or developing companies whose management or principals have favourable experience performing similar services. Helpful if applicant uses standard contract with clients and have legal review procedures in place for creative work, design and content production. Hardware manufacturers, computer-aided manufacturing and industrial process control systems generally are not underwritten in this programme.
Period: 12 month periods.
Available Limits: £2,000,000 aggregate primary capacity. Inner sub-limit of £250,000 in respect of claims arising from failure to prevent unauthorised access. Higher limits and excess cover may be available.
Minimum Premium: £3,500 for £1,000,000 aggregate limit, excluding schemes.
Self-Insured Retention: Dependent on category but subject to £5,000 minimum each claim.
Information Requirements: Media/Professional Insurance application form; brochure or advertising material describing services; copies of standard contracts; financial statement; curriculum vitae of key personnel.