RE: [cobalt-users] Cobalt to provide compensation for server hack ?

[Greg Hewitt-Long <greg@xxxxxxxxxxxxxxxxxxx>]

> >
>> Hehe...But to take the car analogy one step further -- anyone know of
>> Insurance Companies that cover downtime due to hacking? Kind of like theft
>> insurance on a car?  That would be a strange addition to the insurance
>> industry...but I know they have insurance for event planners, for
>> rain-outs,
>> etc.
>>
>I think I read a while back that Lloyd's of London actually offers
>Corporations such insurance.

that's not surprising, you an insure against ANYTHING using a Lloyd's broker (it's just a matter of finding an underwriter that will write the business).

The trick is to find the broker who offers such policies, as you will very rarely be dealing directly with the underwriting company, only a broker who touts the business around the market to many underwriters.

Greg

ps, For 7 years I used to write insurance systems for Lloyds and Companies Insurance systems (there are two distinct, but very similar insurance markets in London, which work in similar ways [insurance wise], but differ considerably in the way the companies operating internally.  They all work by taking a risk and re-insuring it to their partner companies through many, many levels of re-insurers, hence you can insure just about anything if you have deep enough pockets, as no ONE company bears the entire risk (rarely more than 10%, and often hundreds of smaller companies taking 0.01% of the risk or less).  Keeping track of these risks, premiums, claim payments, retrocessions and cedants is a pretty heavy task!


>--S--
>
>Disclaimer: My own two cents...
>
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