You take vitamins, exercise and eat right-but you probably still
catch an occasional cold or flu bug. Your computer isn't much
different: There's no way to completely protect it.
"Hundreds of viruses are generated every month," says
David O'Neill, vice president of e-business solutions for
Zurich North America in Baltimore. "Even if you update your
virus definition files every day, something may get through."
And if it does, you can also be held liable for passing the virus
on.
The fact is, most insurance policies only cover damage to
tangible property and exempt electronic data. "This drives the
need for stand-alone products to fill the gaps," O'Neill
says. While the specifics vary, such products typically cover costs
arising from damage to or theft of data and software, loss of
income because of a virus or denial-of-service attack, electronic
publishing liability, liability if a virus or other malicious code
causes the release of nonpublic personal information, damages you
may suffer if one of your vendors has a problem, and even the
public relations expenses of rebuilding your reputation after a
loss.
E-business coverage can range from several thousand dollars to
high six-figures or greater per year. O'Neill recommends
finding out what your current policies include, then talking to
your insurance agent about what your potential risks are and how
best to cover them.
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Jacquelyn Lynn is a freelance business writer in Orlando,
Florida.
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Originally published in the April 2002 issue of Entrepreneur Magazine