The Israel’s branch of American-based insurance giant AIG will today unveil an insurance policy designed to protect companies using the Internet, The Jerusalem Post reported Tuesday.
Israel is only the third market in which AIG, which operates in 130 countries, has launched the product, the Israeli paper said, adding that the policy has already been launched in the US and UK, and a European launch is scheduled for next month.
"We earmarked Israel early on, because it is such a haven for tech companies," AIG Vice President of Financial Lines Division Richard Bessinger, was quoted by the daily.
"This marketplace really needs our product.”
According to the newspaper, companies will be able to take advantage of three types of insurance. NetAdvantage will insure a web-site for copyright infringement, libel, and other content. Netadvantage Pro will provide professional liability for companies providing services over the web.
This last policy will include criminal reward coverage of $50,000 for information leading to the arrest and conviction of cyber-terrorists, and another $50,000 crisis management fund in case the company falls prey to a cyber-attack, The Jerusalem Post reported, stating that the policies include international coverage up to NIS 100 million - Albawaba.com
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