Safeonline, an Okemos, Mich.-based manufacturer and distributor of digital risk insurance products and services, announced the launch of SafeData, a new product that covers the costs of recovering data lost from computer systems and websites.
In launching the product, Safeonline cited research showing that a company that is unable to access its data for 10 days will never make a full financial recovery and that 43 percent of such businesses will shut down.
SafeData protects companies against costs incurred to retrieve, restore or re-enter electronic information held on computer systems and websites, in the event of data loss or damage. Possible risks include employee error or sabotage, unauthorized access such as hacking, and computer viruses.
The company said SafeData is unique because it covers employee error, and it does not require the insured to take out expensive warranties and maintenance agreements with their computer systems vendors. Like all Safeonline’s products, it is modular, so that companies need only pay for the precise cover they need, and it combines plain English with total clarity as to what is covered.
The policy is underwritten by ACE Underwriting Services for ACE Global Markets, and will be distributed via Safeonline’s network of brokers and agents. The level of coverage ranges between $20,000 and $75,000.
SafeData provides a priority service to the insured and accelerated remote data recovery through Ontrack. In the event of this proving unsuccessful, the policy will pay for the information to be re-entered. Premiums start at $749 for up to $20,000 of cover for a company that employs a firewall, and $839 for one that does not.
SafeData is available from Safeonline’s network of insurance agents and brokers. Safeonline has created a sales information pack for SafeData designed to make it as easy as possible for brokers and agents to explain digital risks to their customers and profit from this exciting new launch. They are also offering a number of training sessions for brokers who want to grow this area of the business.
The Sales Pack is available via Safeonline’s website http://www.safeonline.com or by contacting the Safeonline Broker Support Center.
Topics Agencies
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