|
with extensive experience in this field of business.
The insurance agent's part is crucial, beginning from the policy wording,
including appropriate liability limitations, treatment of policy exceptions,
dealing with world-wide legal problems in relation with various computing
legislature, to experienced claims handling.
Third Party Insurance |Integrated Product & Professional Liability Insurance |Property Insurance |
Insurance Clause in Contracts with Shops
Third Party Insurance
Use of the Internet exposes the users to extremely large financial risks due to
improper use, and high liability for operating online businesses.
Apart from the regular tort laws, Israel has a Computer Act which places
a great deal of responsibility on the user and defends those injured by him.
Therefore, the insurance policy must be based on these laws.
The policy will be extended to third party risks in the following cases
(partial list): intellectual property violation, unwitting transmission
of computer viruses, security system failures, libel, ill use of legal information etc.
to Top of the Page
Integrated Product Liability and Professional Liability Insurance
The Internet site provides stores with professional skills, including construction
of sites, site availability possibilities, skills in dealing with financial
transmissions, ongoing maintenance, system upgrades etc.
All the above activity must be expressed in appropriate insurance coverage
which is only made possible by skillful combination of professional liability
with product liability, i.e., the damage caused by the product to a third party.
Naturally, irregularities must be attended to and adapted to working in an online
environment.
to Top of the Page
Property Insurance
Just like the real world, the Internet world also contains many risks to property.
These risks can cause great damage to the owners of the virtual shopping center
or the shops within the virtual mall. Naturally, such damages include hacker attacks,
viruses which infiltrate the site and unskilled technicians. Of course, property
insurance must include damage to hardware, including the main server, storage
provider, Internet provider, modems and any other equipment used by the virtual
mall and the individual shops.
Furthermore, consequential damages must be covered, mainly loss of profits
due to failure and downtime.
to Top of the Page
Insurance Clause in Contracts with Shops
Naturally, just like in a brick and mortar mall, agreements must be signed between
mall operators and individual shop owners.
Special attention must be given to these contracts and mutual insurance
requirements which each party must agree upon when signing.
Third Party Insurance |Integrated Product & Professional Liability Insurance |Property Insurance |
Insurance Clause in Contracts with Shops
|
