Clickforcover's new Esurance product covers the risks related to increasing internet use by companies.

Clickforcover managing director David Walsh said many businesses remained unaware that their internet use opened them up to new risks.

"Threats such as viruses, hackers, information misuse, fraud and libel have the potential to cost businesses dearly in lost business, expensive law suits and damage to reputation, yet few are insured against it," he said.

Esurance premiums are between £250 and £1,500 and cover replacement or restoration of computer records lost or damaged as a result of viruses, hackers and fraud, plus legal costs and the cost of a PR agency for reputation damage repair.

Walsh said it had tested Esurance with a number of brokers and was ready to take on another 25 brokers with sizeable commercial books, before offering it on a wider sacle.

It has already been shortlisted for the Insurance Industry Awards New Product of the Year.