New Insurance exemption clauses

New Insurance exemption clauses

exclusion_clause-887

This morning I opened the mail and noted that our business insurance (ASB) had some new clauses with respect to damage caused

to electronic data. Gone is the old clause relating to the Y2K issue (that was a laugh) and in its place is an exclusion for "loss of or

damage to electronic data from any cause whatsoever including but not limited to, a computer virus"

I guess this means that the insurance industry is seeing a significant amount of claims from this cause and are seeking to eliminate this risk to their profits.

Prevention is better than the cure but always have a good backup plan. Your business insurance may not save the day.

Daniel Watson