Summit Insurance Services and Brilaw have joined forces to launch Websafe, an e-commerce insurance policy for UK SMEs.
The policy will target businesses with a turnover of less than £5m per year, and offers the sector protection from a range of potential online pitfalls.
The policy will shield companies from disputes that arise from online security breaches, fraud, virus infection, copyright infringement, defamation and information misuse.
David Milner, managing director of Summit, said: “As more UK businesses become dependent on e-commerce they won’t be able to afford leaving themselves open to the cost of dealing with security problems or legal claims. Any company serious about e-commerce needs proper security systems in place and good insurance.”
Companies will have to meet certain criteria, including having a firewall and virus scanning software. The policies start at £300 per year and will be available online.