Sherwood Insurance Services’ proprietary facility, e-Sher Underwriting Managers, has partnered with Global Risk Exchange, a secure, online insurance supply chain platform which aims to streamline the entire commercial insurance buying process. e-Sher will market the CNANetProtect SM and the Lloyd’s e-Comprehensive products via Global Risk Exchange, and is the exclusive underwriter of these products.
Global Risk Exchange seeks to streamline the process of insurance procurement for brokers, risk managers, and underwriters. All parties can bring their traditional insurance supply chains online at Global Risk Exchange, to manage and transfer risk.
According to the companies, many executives and risk managers do not realize the level of e-business risk they have even if their company is not an Internet business or Engaged in e-commerce. Any firm that has a computer network, uses e-mail, or has a website is vulnerable to losses due to business interruption by viruses, systems failures or employee tampering or vandalism.
e-Sher states that it provides its clients with access to technical expertise through the facility’s partnership agreements with nationally recognized leaders in cyber security. This service includes software that finds and eliminates security weaknesses and effectively detects hacker intrusions. Additionally, these risk management tools have the potential to help measure losses more efficiently for improved claims management.
e-Sher Underwriting Managers brings together a program that includes lost revenue coverage, first- and third-party network incident coverage, electronic extortion protection, data and software replacement and electronic communications liability, such as confidential records and electronic publishers’ liability. Companies who select e-Sher are protected against losses due to acts such as libel, slander, copyright infringement and plagiarism in the electronic realm.
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