Security specialists Brilaw International and insurers Summit Services have teamed up to launch Websafe – a product that insures companies against the risk of doing business on the internet. The policy is backed by Royal & SunAlliance.

The package, designed for small- and medium-sized businesses, covers a turnover upwards of £300 and up to £5m per annum.

Cover features protection against security breaches, fraudulent use of customer's credit cards, computer virus infections via a website, infringement of copyright, defamation of third parties and misuse of confidential information that can arise through internet use.

To qualify for the insurance, businesses must have a firewall and virus scanning software in place.