Security Firm Offers Hacker Insurance

National Underwriter Property & Casualty-Risk & Benefits Management, September, 1998 by ATTRINO, TONY

A computer security company is offering to pay its customers up to $250,000 if hackers successfully invade the customer's system. The International Computer Security Association, based in Carlisle, Pa. offers "hacker insurance" as part of its TruSecure service, which the company sells for $40,000 a year, said Laurie Wagner, senior vice president of marketing for ICSA.

The basic policy pays $20,000 per occurrence up to $80,000 per year. Larger corporations can buy enhanced service, which pays up to $250,000 per year, according to Ms. Wagner. The company will pay even if the customer is not financially harmed by the attack, Ms. Wagner said. "Liability is capped at the lesser- double the annual fee or $250,000," Ms. Wagner said. The coverage is self-insured through...

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