Network Asset Protection
Network Asset Protection is a comprehensive first party insurance policy to reimburse financial loss arising from accidental or malicious incidents to computer networks, software and data.
Today’s companies rely heavily upon their IT infrastructure in the course of their operations. Not only are everyday business functions operating through public and private computer networks, including new wireless applications, but innumerable transactions are being performed. Computer attacks, operational mistakes, and network outages may completely paralyse an organisation by bringing down the information infrastructure, damaging digital assets and destroying communication lines. These challenges are complicated with the use of a network of outsourced and offshore third party providers who, increasingly, provide critical IT and business process services.
In the context of organisational challenges and outsourced IT services, boards and senior management are concerned that, should disaster strike, some of the IT infrastructure may not be fully backed up and question just how quickly operations will be resumed. For some industries, corruption of data or network outages during a high or peak season could so seriously erode financial performance as to concern investors.
Kiln at Lloyd’s of London, in association with JLT Risk Solutions Limited, a part of Jardine Lloyd Thompson Group plc, introduces a new insurance product called Network Asset Protection, designed specifically for organisations worldwide to address the first party risks associated with digital assets and computer networks.
The insuring agreements are as follows:
- Loss of Digital Assets
- Non-Physical Business Interruption and Extra Expense
- Cyber Extortion Threat
The policy provides unique coverage in the market and fresh approaches to addressing these risks.
Insured causes of loss include:
- Accidental Damage or Destruction
- Administrative or Operational Mistakes
- Computer Crime and Computer Attacks
- Broad Terrorism coverage available by endorsement
Click below for:
Network Asset Protection brochure
Network Asset Protection form
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