RealTime IT News

St. Paul Fire and Marine Offering E-Commerce Insurance

St. Paul Fire and Marine Insurance Co. unveiled a new set of insurance products designed to protect high-tech companies from risks associated with e-commerce, such as computer systems fraud, media injury and copyright and trademark infringement.

Besides the standard commercial property-liability coverages, the portfolio of products includes Media Liability, CyberTech+ and Networker.

Networker provides coverage for computer fraud, denial of service, telecommunications theft, ransom coverage and post-loss mitigation expenses and public relations activity.

Media Liability is an integrated personal injury, advertising injury and media injury insuring agreement. CyberTech+ is an integrated errors and omissions (E&O), liability and media offenses insuring agreement, especially targeted to technology companies serving the e-commerce industry.

"This portfolio of e-commerce products works together to provide our customers with the broad range of coverages they need," said Kae Lovaas, vice-president for technology at St. Paul Fire and Marine. "New, high-tech companies can obtain all the necessary coverages -- E&O, media liability, virus protection, computer fraud and standard property casualty lines -- from a single company without the risk of coverage gaps."

CyberTech+ and Media Liability have been filed in 30 states, but coverage can be written through St. Paul Surplus Lines in 20 other states. Networker will be filed in all 50 states.

St. Paul Fire and Marine is the eighth-largest property-liability insurance company in the United States.