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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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