Internet Basic Liability

Nuts & Bolts:
St. Paul Travelers launched a basic Internet liability policy aimed at small to mid-size technology companies. Internet basic liability protection is designed for technology businesses or firms with between $5 million and $100 million in revenues that conduct business over the Internet. Two particular risks are covered, failing to protect private customer or client information from hackers or accidental disclosure online and failing to prevent the spread of computer viruses. Larger companies may also be eligible for Internet Basic, which fits together with technology underwriting’s CGL policy and insures against damages caused by two types of wrongful acts. Businesses that choose to purchase Internet Basic are not required to undergo a security audit. In addition, in the event of a claim or lawsuit, Internet Basic provides legal defense subject to policy limits.

Dollars:
The minimum deductible is $5,000. The minimum premium, which varies by state, is in the $1,000 range. Most accounts take $1 million/$1 million to $5 million/$5 million limits, but higher limits are available.

Carrier:
St. Paul Fire and Marine Ins. Co. rated “A” by A.M. Best.

States Available:
All except Louisiana.

Contact:
Aaron Latto, (651) 310-8566, www.stpaultravelers.com.