Small Cos. Uncertain On Cyber-risk CoverageThe Hartford Financial Services Group surveyed 282 companies with fewer than 500 employees and found 80% were not sure whether their current insurance policy covered such specific cyber-risks as e-mail viruses, Web site business interruption, online copyright infringement and Internet privacy. The study focused on small and mid-sized firms that currently use the Internet but not as their primary revenue generator. An independent online market research firm conducted the study on behalf of The Hartford. "Most standard business coverages were established before the Internet became a common business tool," says Judy Blades, executive vice president in charge of business insurance at The Hartford, Hartford, Conn. "It has only been in recent years that problems associated with the World Wide Web have come to the forefront. For example, businesses have lost their customer databases from e-mail viruses or have been sued for posting copyrighted material on their Web site. These findings underscore the need for carriers to clarify their coverages in these areas.
MIB Adopts ACORD XML Interface
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