Insurers Summit Services has teamed up with security specialists Brilaw International to launch 'Websafe' for companies doing business on the internet.

The idea was invented by Summit and is underwritten by Royal &SunAlliance. Brilaw International will help sell the product.

The package, which is designed for small and medium sized business covers a turnover of up £5m and starts from £300 per year.

Cover features protection against security breaches, fraudulent use of customers credit cards and computer virus infections via a web site, 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.