Page 29 - The Insurance Times February 2025

Section VII E-Business interruption including Extra Expenses
Goods in Transit
Third Party Liability:
All risk cover of Raw Materials, Semi finished goods, Finished
Disclosure Liability including customer claims due to sys-
goods with standard exclusions for all inward and outward tem security failures resulting in unauthorized access
transits.
to or dissemination of private information on the
Internet.
Section VIII
Reputational Liability including claims alleging dispar-
Plate Glass/Neon Sign/Glow Sign agement of products or services, libel, slander, defama-
Against fire, accidental damage, malicious act and/or theft. tion and invasion of privacy
Conduit Liability including claims arising from system se-
Section IX curity failures that result in harm to third-party systems
Baggage Defence Costs cover costs incurred in defending any
Loss or damage to accompanied baggage by accident or claim brought by a government agency, licensing or
misfortune. regulatory organization.

Section X Section XIII
Fidelity Guarantee Legal Liability to Employees
Loss due to any act of fraud or dishonesty by salaried em- It covers the Insured's legal liability to employees arising out
ployees at the Insured's premises. of and in the course of employment under Workmen's Com-
pensation Act 1923 and subsequent Employees Compensa-
Section XI tion Act, 2009.

Personal Accident Section XIV
It covers the employees towards bodily injury solely and di-
rectly caused by accidental, violent, external and visible Legal Liability to Third Party
means resulting in death or disablement within 12 (twelve) It covers liability of the Insured to Public for bodily injury to
calendar months of the occurrence of such injury. any Third Party or loss of or damage to Third Party's prop-
erty whilst caused at the Insured's premises. Policy may be
Section XII issued on AOA and AOY basis.
Cyber Liability In addition to those Parametric covers for Earthquake, Flood
It provides protection against a wide range of first and third Strom, Inundations etc. can be designed.
party liabilities occurring out of cyber exposures associated
with e-business, internet, networks and information assets. Customer has the wide option to choose the section as per

his requirement.
Coverage.
First Party Liability: The major advantage under this policy is the absence of
Average Clause and simplified Business Interruption cover.
E-Theft Loss as a consequence of having transferred
funds due to the fraudulent input of data into a com- But before issuing coverage, a thorough assessment of physi-
puter system, cal risk, operational risk, financial risk and digital risks of the
enterprise is to be carried out. The marketing forces should
E-communication Loss occurring due to a customer hav- be sensitized, and appropriate capacity building is to be
ing transferred funds on the faith of any fraudulent com- done. This would facilitate Entrepreneurs, Bankers, Inter-
munication for which loss, Insured is held legally liable. mediaries, Surveyors and the Insurers too.
E-Threat Loss including the cost of a professional nego-
tiator. References:
E-Vandalism Loss even when caused by an employee From various sources.

The Insurance Times February 2025 27