Features of the eCommerce insurance
The eCommerce insurance offers you comprehensive protection against claims for damages by third parties and expensive personal damage. In contrast to conventional public liability insurance, online shop insurance offers protection against the special risks in online trading and internet sales, but also covers the risks of brick-and-mortar retail as long as sales from this area do not exceed online sales.
The web eCommerce includes the following insurance modules:
• Financial loss liability
• Office & Public Liability
• Product liability
In addition, the e-ecmmerce insurance offers four freely selectable additional modules:
• Data protection & cyber internal damage cove: The insurance covers internal damage in connection with hacker attacks, DoS attacks, computer misuse, theft of data carriers or devices as well as other data breaches.
• Cyber business interruption & extortion: Insures your costs and damage caused by a failure of the web shop due to cyber risks and extortion (including ransom payments).
• D&O external liability insurance: If you wish, you can also insure your personal liability (directors’ liability) for breaches of duty as a managing director: in a corporation (e.g. GmbH).
• Fidelity Loss & Fraud: Insures certain personal financial losses caused by the fraudulent behavior of our own employees; inside or third parties.
There are many legal aspects to consider in online trading:
From the Price Indication Ordinance to complex trademark and labeling law to data protection laws. Even small mistakes and carelessness can have financial consequences for: the operator: in an online shop, its customers or other third parties. In most cases, this financial loss is what is known as an asset loss. Therefore, the financial loss liability insurance forms the basic coverage of the web shop insurance.
Comprehensive protection through “Open Cover”
The insurance cover is consumer-friendly based on the principle of open cover. As a result, the operation of a wide variety of internet-based trading companies for goods and (web shops) is insured without these having to be finally listed.
Examples of insured web shops are:
Sales of clothing, electronic goods, sporting goods, entertainment goods, furnishings, household appliances, animal accessories, jewelry, watches or tickets for events.
There is also insurance coverage for certain IT services and activities in the area of corporate and personnel consulting that are provided for third parties. In detail these are:
• Internet providing services
• Web design and web maintenance
• Programming, maintenance and servicing of third party web shops
• Energy advice / preparation of energy passports
• Accounting services
• HR consulting
• Data protection advisor: in
• and much more.
International insurance coverage
The eCommerce insurance offers worldwide insurance protection for financial losses.
For personal injury and property damage and the resulting pecuniary loss asserted in US courts or based on a violation of US law, insurance cover is only provided in the following cases:
• When participating in or carrying out business trips
• When participating in trade fairs, exhibitions or events
• For indirect exports of products or services to the USA (an indirect export occurs when products or services have reached the USA without the: the policyholders: in or co-insured persons having initiated this).