HARTFORD’S NEW ENHANCEMENTS

As more small and mid-sized companies expand their use of the Internet as a business tool, they become increasingly vulnerable to risks that may not be covered by their standard business insurance policies. E-mail viruses, website business interruptions and online copyright infringement are among the most common cyber exposures facing businesses today. The Hartford Financial Services Group recently surveyed owners of small and mid-sized businesses and found 80 percent did not know whether their policies covered these types of risks. The Hartford’s coverage enhancements, called CyberFlex, are tailored to the needs of small and mid-sized “bricks and clicks” businesses—those that use the Internet but still generate the majority of their revenues through traditional off-line activities. CyberFlex enhancements are now being included in policies for most mid-sized companies in more than 30 states, and are expected to be available in most states by September. CyberFlex enhancements for small businesses will be available for purchase starting this summer, with a countrywide rollout scheduled this fall.