The Hartford Introduces CyberFlex(SM) Enhancements for Small and Mid-Sized Businesses

Property and Liability Coverages Protect Companies Against Common

Internet Exposures



Apr 18, 2001, 01:00 ET from The Hartford

    HARTFORD, Conn., April 18 /PRNewswire/ -- If the 'Love Bug' virus were to
 strike again and wipe out your customer database, would your loss be covered?
 If a magazine sued you for featuring its article on your company's Web site
 without permission, would your insurance pay the damages?
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990824/HIGLOGO )
     As more small and mid-sized companies expand their use of the Internet as
 a business tool, they become increasingly vulnerable to risks that may not be
 covered by their standard business insurance policies.  E-mail viruses, web
 site business interruptions and online copyright infringement are among the
 most common cyber exposures facing businesses today.
     Now, The Hartford Financial Services Group has enhanced its commercial
 coverages to address many Internet-related exposures.  The Hartford recently
 surveyed owners of small and mid-sized businesses and found 80 percent did not
 know if their policies covered these types of risks.
     The Hartford's CyberFlex enhancements are tailored to the needs of small
 and mid-sized 'bricks and clicks' - those businesses that use the Internet but
 still generate the majority of their revenues through traditional off-line
 activities.
     "CyberFlex coverages are designed to meet the needs of companies that have
 some Internet exposures, but are not pure dot-com businesses," said Judy
 Blades, executive vice president of business insurance at The Hartford.
 "We're providing clarity and peace of mind for our small and mid-sized
 business customers with respect to coverage for their Internet activities."
 
     The Hartford's CyberFlex coverage offerings include the following:
     -- Internet-related Personal and Advertising Injury Coverage - protection
       for several liabilities arising out of content provided on a computer
       network, including the Internet.  Worldwide coverage extends to the
       entire web site and includes web site advertising for others via banner
       ads and links;
     -- Electronic Vandalism - for mid-sized businesses, this covers data
       damaged by hackers or viruses;
     -- Virus Damage and Web Site Vandalism - for small businesses, this covers
       data and equipment damaged by viruses.  Also featured is coverage for
       business income and extra expense losses due to the willful or
       malicious alteration of a policyholder's Web site by another party;
     -- Web Site, Internet and Communications Services Business Income - covers
       the loss of income or extra expense incurred as a result of an
       interruption in Internet service, Web-site hosting service or e-mail
       access;
     -- Denial of Service Attack - covers loss of income resulting from rogue
       traffic preventing legitimate customers from accessing a policyholder's
       Web site without physical loss or damage to data; and
     -- Good Faith Advertising Expense - covers advertising expenses incurred
       solely to regain customer faith after a covered loss.
 
     CyberFlex enhancements are now being included in policies for most mid-
 sized companies in more than 30 states, and are expected to be available in
 most states by September.  CyberFlex enhancements for small businesses will be
 available for purchase starting this summer, with a countrywide rollout
 scheduled this fall.
     The Hartford (NYSE:   HIG) is one of the nation's largest insurance and
 financial services companies, with 2000 revenues of $14.7 billion.  As of
 December 31, 2000, The Hartford had assets of $171.5 billion and shareholders'
 equity of $7.5 billion.  The company is a leading provider of investment
 products, individual life insurance and group benefits; automobile and
 homeowners products; commercial property and casualty insurance; and
 reinsurance.
     The Hartford's Internet address is www.thehartford.com.
 
 

SOURCE The Hartford
    HARTFORD, Conn., April 18 /PRNewswire/ -- If the 'Love Bug' virus were to
 strike again and wipe out your customer database, would your loss be covered?
 If a magazine sued you for featuring its article on your company's Web site
 without permission, would your insurance pay the damages?
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990824/HIGLOGO )
     As more small and mid-sized companies expand their use of the Internet as
 a business tool, they become increasingly vulnerable to risks that may not be
 covered by their standard business insurance policies.  E-mail viruses, web
 site business interruptions and online copyright infringement are among the
 most common cyber exposures facing businesses today.
     Now, The Hartford Financial Services Group has enhanced its commercial
 coverages to address many Internet-related exposures.  The Hartford recently
 surveyed owners of small and mid-sized businesses and found 80 percent did not
 know if their policies covered these types of risks.
     The Hartford's CyberFlex enhancements are tailored to the needs of small
 and mid-sized 'bricks and clicks' - those businesses that use the Internet but
 still generate the majority of their revenues through traditional off-line
 activities.
     "CyberFlex coverages are designed to meet the needs of companies that have
 some Internet exposures, but are not pure dot-com businesses," said Judy
 Blades, executive vice president of business insurance at The Hartford.
 "We're providing clarity and peace of mind for our small and mid-sized
 business customers with respect to coverage for their Internet activities."
 
     The Hartford's CyberFlex coverage offerings include the following:
     -- Internet-related Personal and Advertising Injury Coverage - protection
       for several liabilities arising out of content provided on a computer
       network, including the Internet.  Worldwide coverage extends to the
       entire web site and includes web site advertising for others via banner
       ads and links;
     -- Electronic Vandalism - for mid-sized businesses, this covers data
       damaged by hackers or viruses;
     -- Virus Damage and Web Site Vandalism - for small businesses, this covers
       data and equipment damaged by viruses.  Also featured is coverage for
       business income and extra expense losses due to the willful or
       malicious alteration of a policyholder's Web site by another party;
     -- Web Site, Internet and Communications Services Business Income - covers
       the loss of income or extra expense incurred as a result of an
       interruption in Internet service, Web-site hosting service or e-mail
       access;
     -- Denial of Service Attack - covers loss of income resulting from rogue
       traffic preventing legitimate customers from accessing a policyholder's
       Web site without physical loss or damage to data; and
     -- Good Faith Advertising Expense - covers advertising expenses incurred
       solely to regain customer faith after a covered loss.
 
     CyberFlex enhancements are now being included in policies for most mid-
 sized companies in more than 30 states, and are expected to be available in
 most states by September.  CyberFlex enhancements for small businesses will be
 available for purchase starting this summer, with a countrywide rollout
 scheduled this fall.
     The Hartford (NYSE:   HIG) is one of the nation's largest insurance and
 financial services companies, with 2000 revenues of $14.7 billion.  As of
 December 31, 2000, The Hartford had assets of $171.5 billion and shareholders'
 equity of $7.5 billion.  The company is a leading provider of investment
 products, individual life insurance and group benefits; automobile and
 homeowners products; commercial property and casualty insurance; and
 reinsurance.
     The Hartford's Internet address is www.thehartford.com.
 
 SOURCE  The Hartford