Intermediary JS Wurzler has teamed up with web site security breaches company MIS to provide companies with loss of revenue and virus attack insurance.
The loss of revenue cover means that companies who have a breach can get full reimbursement for any revenue lost via sales and advertising.
This differs from many insurance covers that only reimburse net income – which, once whittled down, can often leave the company in debt.
The virus cover is also unusual in that it not only covers the company that has the virus, but also that company's customers – if they have been inadvertently infected.
The risk assessment is based on a security audit carried out by MIS, which is then submitted to Wurzler for approval.
The assigned premium varies depending on the level to which the company's IT security infrastructure is equipped.
The calculation can be compared to the risk assessment of a house that has a state-of-the-art security system – the contents insurance will be cheaper than for a house that doesn't have any security.