Safety'Net Internet Liability Insurance
"As more companies disseminate information to the public via web sites and other media, the distinction between media organizations and other commercial companies is becoming less clear. Commercial businesses now have the same liability exposures once reserved only for book publishers, broadcasters, and advertising agencies," says Leib Dodell, Media and Intellectual Property Underwriting Manager, Chubb Executive Risk, a subsidiary of the Chubb Group of Insurance Companies. With more and more companies venturing onto the World Wide Web, commercial organizations are now faced with myriad liability exposures that are not covered under traditional general liability (GL) policies.
Safety'Net fills in the gaps left by GL policies, and with its "all-risk" insuring agreement, it offers comprehensive coverage for on-line exposures that arise out of the dissemination of content on the policyholder's web site, or the transaction of business over the site. While other policies may be limited to a specified list of "named perils," Safety'Net's broad insuring agreement offers coverage that insures all modes of communication.
Technology and legislation are converging to create new potential liabilities, and Safety'Net responds to these cutting-edge legal issues with broad coverage, superior claims handling, and a team of underwriters that have proven expertise in the media liability insurance industry. Safety'Net also offers the optional feature of protecting against domain name infringement by others, should some other party use a policyholder's trademark in its domain name. "Safety'Net is an important element in Chubb's response to the risks associated with E-commerce," says Sean Fitzpatrick, Chief Underwriting Officer of Chubb Executive Risk, "and we will continue to provide our insureds with state-of-the-art coverage solutions in this challenging new area."
Chubb Group of Insurance Companies, 15 Mountain View Road, Warren, NJ 07059. Tel: 908-9032000; Fax: 908-903-2027.