Insurance for Tech and Ecommerce – Your Input Needed!
Insurance for ecommerce is important and sometimes difficult to arrange. EFSA is looking at the market. Let me have your views, experiences, or advice ([email protected]comafrica.org). There are, of course, different risks to be covered – insurance for deliveries, warehouses/stock, insurance from cyber-attacks, to protect IP, and so on. In the USA Cyber insurance premiums have grown significantly in recent years. In 2021, stand-alone cyber coverage jumped 92% year-over-year to top $3.1bn for the US. Insurers have bumped up rates amid a surge of ransomware attacks as they adapt to pricing cyber risk. Companies are increasingly looking to cyber insurance policies to protect themselves in case of an attack, in addition to investing directly in cybersecurity technologies to prevent attacks. Another area seeing much more insurance activity is IP protection. Companies are becoming increasingly worried about the thief of copyrighted materials, misuse of their trademarks, and other IP-related issues.
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