Chips with everything.
Computers have changed radically since they were first insured, along with machinery, under engineering policies. However, 21st-century technology has spawned a whole range of new cyberissues for the insurer to contend with, says Simon Threadgold.
When insurers began covering computers, they did not know whichpigeon-hole to stick them in. The main risks appeared to be accidental
damage and breakdown. So computers were lumped together with other bits of
machinery in the engineering division. And there, for the most part, they
have stayed.
Meanwhile, the nature of the risks covered has changed considerably.
Computers used to consist of large, heavy mainframes which held zero
attraction for thieves. Mainframes are still used, but many
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Personal
Boom and PremFina partner up
Premium finance provider PremFina has partnered with Abacai Technologies’ car insurance digital brand Boom, an appointed representative of Top 100 Broker Dayinsure.
Motor premium prices slip but payouts stay at record level in Q3 – ABI
The average motor insurance premium fell slightly to £562 in the third quarter of the year, £4 lower than the period before, the Association of British Insurers has calculated.
Brokers point to rising risk of underinsurance
The main drivers of underinsurance in the non-standard market are incorrect property valuations or lack of awareness about reinstatement costs, according to a survey of brokers.
Sign up now to attend The High Net Worth Forum this Thursday
The only event for high and ultra-high net worth brokers who want to be one step ahead of the game returns this week.
Q&A: Close Brothers Premium Finance leaders Wallace and Hayes
Close Brothers Premium Finance commercial director, Colin Wallace, and sales director Elliott Hayes, stress the firm’s ‘pro-broker’ message as they tackle the changes over the past 18 months, shrinking after the partial exit from personal lines and the developments they believe will deliver growth for all parties as the business focuses in on commercial with the run-off almost complete.
Broker trio help Compare The Market push into new market
A trio of brokers has been signed up by aggregator Compare The Market for its full launch into temporary car insurance.
John Lewis Money hires ex-Co-op Insurance MD to lead broker push
John Lewis Money has hired ex-Co-op Insurance managing director Charles Offord as director of financial services, as the business looks to develop its broker model for credit and insurance.
FSCS opens for claims from customers of failed broker Anthony Jones
The Financial Services Compensation Scheme has opened to claims from customers who paid for insurance through collapsed broker Anthony Jones (U.K.) but find themselves without the relevant cover and unable to recover the premiums by other means.