The Big Cover-up

Tyler, Geoff
November 2002
Management Services;Nov2002, Vol. 46 Issue 11, p22
Academic Journal
This article discusses why information technology (IT) systems of organizations should be insured against problems and their consequences. In general, many insurers are excluding IT specific risks from premises and associated all-risks cover offered to businesses, and people responsible for risk management or IT in those businesses may not be aware that the cover they thought thy had either never really existed because of limitation clauses, or has been removed. Both the British Chambers of Commerce and the Association of British Insurers are looking in detail at the whole IT cover issue. This article focused on the corporate cover provided by the Norwich Union company. All insurers expect policyholders to have adopted strict standards of IT security before they will take on the risk and , depending on the extent of the cover they are to provide, go to a lot of trouble to ensure that security is in place and is effective.


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