The Risk

Companies are increasingly at risk from exposures that originate from their use of technology.

Most forms of insurance either exclude or inadequately cover losses that arise from use of the Internet, e-mail or networked systems. As a result, companies that are reliant on these technologies frequently find that they have inadequate protection, but only discover the deficiency when they need to make a claim. This can come as an expensive shock.

The Solution

Howden India offers broad, appropriate insurance for the technologically reliant. Our products are specifically designed to cover the gaps that exist in most forms of insurance.

The Cover

Third Party Liabilities:

  • Allegations that arise from a breach of confidentiality/data protection legislation
  • Allegations of libel and slander for example due to email, web site or employment advertising content
  • Claims that arise from damage to a Third Party's computer systems such as through forwarding a virus, DOS attack or an employee hacking or committing fraud
  • Claims arising from third party consequential loss through not being able to access your computer systems/website

First Party Liabilities:

  • Systems damage - reimbursement for any costs incurred as a result of attack by a virus, hacker or electronic fraud of an employee
  • Business interruption - reimbursement for lost business if systems are unable to operate due to attack by a virus, hacker or electronic fraud of an employee
  • E-theft - reimbursement if funds are misappropriated electronically
  • E-extortion - reimbursement for ransom monies payable as a result of a threat to introduce a virus, hack/damage
  • systems or disseminate information that has been taken from a database
  • Intellectual property 'attack' - payment of legal costs in pursuit of/defending third party infringements
  • Brand protection - payment for PR to protect against any negative impact on brand and reputation

Our Products in Practice

The insurance covers legal costs incurred in defending civil and criminal proceedings relating to prospectus liability as well as any judgements or settlements entered into.

  • For example, if your company is subject to a destructive virus attack, our covers can help in the following ways:
  • Paying for the costs of expert IT or forensic consultants to repair your systems and restore your data
  • Reimbursing you for any of your lost revenue as a result of your downtime
  • If you forward the virus to third parties, our cover will pay your legal costs and any damages in the event that they hold you responsible
  • Paying for the costs of a PR consultancy to minimise the damage to your reputation.

Our proposed policies operate on an 'all risks' basis, rather than on a 'named perils' basis. This means that if the cause of a loss is not specifically excluded in the policy, then it is covered. No other product gives this breadth of cover.