I am trying to find out which Insurance Brokers the following three
companies use: Amazon, Ebay and Yahoo! There is no information in
their Annual Reports (only information about their Auditors) and it is
very difficult to contact any relevant department such as Risk
Management within these organisations. Essentially, I want to find
this out because I want to insure the assets of my online business and
therefore want to find "expert" Insurance Brokers/ Risk Managers that
can insure my assets (servers etc) and not just provide me with
insurance against software viruses. Therefore, I want to find
Insurance Brokers that specialise in insurance for the physical assets
of online businesses as well as the Insurance Brokers that Amazon,
Ebay and Yahoo! use. Can you help me find out? Thanks.

---

Request for Question Clarification by bobbie7-ga on 18 Aug 2005 12:04 PDT

goshka,

I can provide you with the name of the insurance company that protects
Yahoo Canada. This company holds approximately 70% of the global
e-insurance market.
I can also tell you the names of the other two major players in this market.

Bobbie7

---

Clarification of Question by goshka-ga on 18 Aug 2005 13:35 PDT

Bobbie. Thank you for your answer. The name of the insurance company
will be useful (as well as the other two major players in the market),
however, I am less interested in carriers, for instance, AIG, FM etc
than I am with the names of the insurance BROKERS that arrange the
insurance cover for these online businesses. I would be happy for you
to have the money that I have offered as well if you could tell me who
has 70% of the global e-insurance market and the next two major
players if you could tell me:

1) the source of your information (a journal, a website, whatever)
2) who the leading insuarnce brokers are in the e-insurance space (eg.
Marsh, Aon etc)
3) When you say 70% of the e-insurance market, do you mean that (a)
70% of all insurance sold online is underwritten by this company or do
you mean that (b) that they insure 70% of all online businesses?

If you can answer these questions, Bobbie, then I am would like you to
have the money on offer and there will probably be more questions to
follow.

Thanks for your help.

---

Request for Question Clarification by bobbie7-ga on 18 Aug 2005 14:28 PDT

Goshka,

Thank you for your clarification, however I am not certain that the
material I assembled is what you?re after.

I am posting my findings below in the comment box for you to review.
If  this information serves  your purpose , please let me know and I
will gladly  post it as the formal answer to your question.

If it only partially answers your question, you could lower the price
of your question accordingly.
 
(You can change the price by going to "My Account," 
selecting "My Unanswered Questions", clicking on the question, and 
then clicking on "Change Question Parameters" to modify the pricing.) 

Best regards,
Bobbie7

Goshka,

Thank you for accepting my findings as the formal answer to your question.

I am reposting the information below for your convenience.

The following paragraph claims that American International Group (AIG)
protects Canadian clients including Yahoo Canada in Toronto. This
company writes 70 percent of cyber-policies in the U.S.

Excerpt:

?Nonetheless, it seems that some insurance companies are willing to
cast all risks aside and hedge their bets. Take Holman Insurance
Brokers Ltd., based in Richmond Hill, Ont., as just one example. The
company offers protection for both hacker/cyber theft and DoS attacks.
Likewise, American International Group (AIG), the world's largest
insurance company that writes 70 per cent of cyber-policies in the
U.S., offers similar protection to Canadian clients, including Yahoo
Canada in Toronto. Also on the bandwagon is Lloyd's of London, which
offers US$10 million in cyber-protection for US$750,000.?
Source: ITBusiness.ca 
Posted on September 22, 2003

E-Commerce Alerts 
Research and retrieval of news articles by Bennett Gold Chartered Accountants
http://www.e-commercealert.com/article596.html


====================================================


A Business Week article states that (AIG ) holds approximately 70% of
the global e-insurance market and other major players are  Chubb (CB )
and Zurich North America.

Excerpt: 

 ?From a standing start two years ago, revenues from policy purchases
grew to just shy of $100 million in 2001, according to insurance
execs. "This will be at least a $1 billion market by 2007," says Ty
Sagalow, chief operating officer of American International Group's
eBusiness Risk Solutions Group.?

?He should know: AIG (AIG ) holds approximately 70% of the global
e-insurance market and has written 1,500 policies for companies
ranging in size from small businesses to giant corporations. AIG is
best positioned to influence security software standards, and it's
already doing so.?

?Other major players such as Chubb (CB ) and Zurich North America
(ZFSVY ) now offer their own policies. Such coverage isn't cheap: A
typical policy costs hundreds of thousands of dollars annually for
only tens of millions of dollars worth of coverage. But these policies
could become a mandatory cost of doing business in the next five
years. ?

Business Week : April 2, 2002
http://www.businessweek.com/bwdaily/dnflash/apr2002/nf2002042_8163.htm

 
====================================================

Perhaps Amazon is working with AIG, because in 2003 Roberta Martoza,
Risk Manager, Amazon.com and Emily Freeman,VP and Executive Director
of Consulting, AIG eBusiness Risk Solutions were guest speakers on the
topic of Cyber-Risk."


?Cyber-Risk"
Combined Lunch Meeting PNW Chapter CPCU and PNW Chapter RIMS

Guest Speakers:  

Roberta Martoza
Risk Manager, Amazon.com

Emily Freeman
VP and Executive Director of Consulting, AIG eBusiness Risk Solutions

?Both are true experts in their fields.  Roberta, who will represent
our local presence, has extensive experience on this topic through her
risk management work at Amazon.com, the leading on-line retail giant
of our time.  Emily, who lives in California but works on this issue
nationwide for AIG (and was previously with Marsh), has been a
principal drafter of cyberspace insurance products, senior consultant
for e-business risk management, and leads risk analysis workshops for
major corporations with infrastructure and commerce applications
utilizing computer networks and the Internet.?

Washington State CPCU http://www.pnwcpcu.org/lkwa_meetings_2003.htm


====================================================

"Lloyd's has formed alliances with Marsh, Inc. and Safeonline to
protect companies against technology hazards like e-mail viruses and
hackers. In October it partnered with Yahoo to provide insurance for
purchases made on the site./

Forbes 2001
http://www.forbes.com/best/2001/0521/092.html


====================================================


Origins of hacking insurance

"Each of the attacks showed the vulnerability not just of online
businesses but of all businesses, deepening the awareness of
E-commerce risk. And while most property/casualty policies failed to
cover that risk, several major and more than a few minor insurers have
moved to fill the void, including Lloyd's of London , Zurich Insurance
Group , and Chubb Group of Insurance Companies."

http://www.andrew.cmu.edu/user/hchong/origins.htm


====================================================


"American International Group, the largest network-security insurer,
recently created stand-alone coverage for viruses and credit card and
ID theft.

Hiscox, a Lloyd's of London syndicate, last year initiated a policy
for telecommunications, media and technology companies that covers
virus and hacker losses.

Chubb now offers financial institutions a policy for "e-theft,
e-vandalism and e-extortion."

Zurich North America, in one plan last year, added a reward for
information leading to the conviction of cyberterrorists."

USA Today 2003
http://www.usatoday.com/money/industries/technology/2003-02-09-hacker_x.htm


====================================================


Ty Sagalow, President of AIG Corporate Product Development,
former chief operating officer and executive VP of New York City based
AIG eBusiness Risk Solutions talks about Cyber Risk Insurance here:
http://www2.cio.com/ask%5Cexpert/2003/questions/question1577.html


====================================================

Search terms:
Yahoo, eBay, Amazon, insurance, hacker, virus, risks, cyber insurance, 

Best regards,
Bobbie7

Don't know if this is precisely what you are looking for or if you are
in the relevant country, but there is a category for internet trading
insurance companies at the following insurance directory
http://www.uk-insurance-index.co.uk/insurance/internet-trading-insurance-1.html.

Thank you. However, that is nowhere near the answer that I was looking
for. Thanks, anyway.

Goshka,
Here are my findings. Please let me know your thoughts.
Bobbie7


The following paragraph claims that American International Group (AIG)
protects Canadian clients including Yahoo Canada in Toronto. This
company writes 70 percent of cyber-policies in the U.S.

Excerpt:

?Nonetheless, it seems that some insurance companies are willing to
cast all risks aside and hedge their bets. Take Holman Insurance
Brokers Ltd., based in Richmond Hill, Ont., as just one example. The
company offers protection for both hacker/cyber theft and DoS attacks.
Likewise, American International Group (AIG), the world's largest
insurance company that writes 70 per cent of cyber-policies in the
U.S., offers similar protection to Canadian clients, including Yahoo
Canada in Toronto. Also on the bandwagon is Lloyd's of London, which
offers US$10 million in cyber-protection for US$750,000.?
Source: ITBusiness.ca 
Posted on September 22, 2003

E-Commerce Alerts 
Research and retrieval of news articles by Bennett Gold Chartered Accountants
http://www.e-commercealert.com/article596.html


====================================================


A Business Week article states that (AIG ) holds approximately 70% of
the global e-insurance market and other major players are  Chubb (CB )
and Zurich North America.

Excerpt: 

 ?From a standing start two years ago, revenues from policy purchases
grew to just shy of $100 million in 2001, according to insurance
execs. "This will be at least a $1 billion market by 2007," says Ty
Sagalow, chief operating officer of American International Group's
eBusiness Risk Solutions Group.?

?He should know: AIG (AIG ) holds approximately 70% of the global
e-insurance market and has written 1,500 policies for companies
ranging in size from small businesses to giant corporations. AIG is
best positioned to influence security software standards, and it's
already doing so.?

?Other major players such as Chubb (CB ) and Zurich North America
(ZFSVY ) now offer their own policies. Such coverage isn't cheap: A
typical policy costs hundreds of thousands of dollars annually for
only tens of millions of dollars worth of coverage. But these policies
could become a mandatory cost of doing business in the next five
years. ?

Business Week : April 2, 2002
http://www.businessweek.com/bwdaily/dnflash/apr2002/nf2002042_8163.htm

 
====================================================

Perhaps Amazon is working with AIG, because in 2003 Roberta Martoza,
Risk Manager, Amazon.com and Emily Freeman,VP and Executive Director
of Consulting, AIG eBusiness Risk Solutions were guest speakers on the
topic of Cyber-Risk."


?Cyber-Risk"
Combined Lunch Meeting PNW Chapter CPCU and PNW Chapter RIMS

Guest Speakers:  

Roberta Martoza
Risk Manager, Amazon.com

Emily Freeman
VP and Executive Director of Consulting, AIG eBusiness Risk Solutions

?Both are true experts in their fields.  Roberta, who will represent
our local presence, has extensive experience on this topic through her
risk management work at Amazon.com, the leading on-line retail giant
of our time.  Emily, who lives in California but works on this issue
nationwide for AIG (and was previously with Marsh), has been a
principal drafter of cyberspace insurance products, senior consultant
for e-business risk management, and leads risk analysis workshops for
major corporations with infrastructure and commerce applications
utilizing computer networks and the Internet.?

Washington State CPCU http://www.pnwcpcu.org/lkwa_meetings_2003.htm


====================================================

"Lloyd's has formed alliances with Marsh, Inc. and Safeonline to
protect companies against technology hazards like e-mail viruses and
hackers. In October it partnered with Yahoo to provide insurance for
purchases made on the site./

Forbes 2001
http://www.forbes.com/best/2001/0521/092.html


====================================================


Origins of hacking insurance

"Each of the attacks showed the vulnerability not just of online
businesses but of all businesses, deepening the awareness of
E-commerce risk. And while most property/casualty policies failed to
cover that risk, several major and more than a few minor insurers have
moved to fill the void, including Lloyd's of London , Zurich Insurance
Group , and Chubb Group of Insurance Companies."

http://www.andrew.cmu.edu/user/hchong/origins.htm


====================================================


"American International Group, the largest network-security insurer,
recently created stand-alone coverage for viruses and credit card and
ID theft.

Hiscox, a Lloyd's of London syndicate, last year initiated a policy
for telecommunications, media and technology companies that covers
virus and hacker losses.

Chubb now offers financial institutions a policy for "e-theft,
e-vandalism and e-extortion."

Zurich North America, in one plan last year, added a reward for
information leading to the conviction of cyberterrorists."

USA Today 2003
http://www.usatoday.com/money/industries/technology/2003-02-09-hacker_x.htm


====================================================


Ty Sagalow, President of AIG Corporate Product Development,
former chief operating officer and executive VP of New York City based
AIG eBusiness Risk Solutions talks about Cyber Risk Insurance here:
http://www2.cio.com/ask%5Cexpert/2003/questions/question1577.html


====================================================

Bobbie. Thank you. I have lowered the price of my question to USD4
50.00 and I am happy for you to have the money. Thanks for your help.