A new risk management solution for e-commerce has been launched in the UK by Zurich Specialties London, following its success in the United States during 1999.

The protection product helps cover gaps in existing insurance coverage.

It includes loss of business income, reputation protection, loss of intellectual property, impairment or interruption of service liability, or liabilities incurred as a result of information published electronically.

Optional cover is also available for losses from computer theft and e-business.

Director Lloyd Fielder said: "The emergence of e-business offerings, such as on-line banking, securities trading and on-line shopping, has created tremendous marketing opportunities for innovative companies.

"As companies embrace the internet and create on-line businesses or expand existing distribution channels to include the internet, they also face new risks"

The product will be offered to financial service institutions and most other commercial enterprises with policy limits up to $25m (£15m).

The rates will be individually underwritten according to the customer's business plan.

Fielding added: "Companies want to ensure their e-business is not vulnerable to potential losses resulting from security breaches, such as network hacking, viruses, and electronic thefts.

"E-risk will deliver added security and reassurance to those companies migrating to e-business."

The product was developed by The Fidelity and Deposit Companies, a member of the Zurich Financial Services Group.