Few organisations other than financial institutions have been covered by the destruction of data caused by the "Love Bug" internet virus, concludes Willis Crime Practice Group.
Lloyd's expects damage of the Love Bug to be at £10bn worldwide, most of which is uninsured.
Oliver Prior head of Willis Crime Practice Group, said: "Although broad form computer virus insurance coverage has been available since the late 1980s, few organisations other than financial saw it as a concern."
Lloyd's issued the first Electronic and Computer crime Insurance Policy designed specifically for financial institutions.
However, virus coverage has been available to other businesses as part of computer crime insurance programme but few have taken advantage of it.
Oliver Prior warns that organisations should now review this risk exposure and purchase one of the insurance policies that specifically address the increasing problem of computer virus attack – before the next variant appears.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
