Our policy is intended for e-commerce companies. We cover transactional online revenue. Any product that involves monthly billing where a credit card is on file that can be re-billed is not covered.
Our policy is first-party only. The only coverage we offer is online revenue interruption. We do not offer any liability coverage.
Our policy is an occurrence policy, meaning that we cover losses sustained within the policy period.
Online revenue interruption is different from business interruption in that we do not cover any extra expenses related to the business not functioning. We simply cover the transactional revenue that was lost up to the limit. Additionally, we cover gross revenue while most business interruption coverages protect net income.
We do not offer any cybersecurity services or any IT services to help get customers back online nor do we recommend any.
The waiting period for our policy is 8 hours.
The deductible for our policy is 8 hours.
Policy period is 30 days, with the renewal kicking in at midnight in the time zone of the insured based on their business address at the end of the 30 day period.
Our customers are re-underwritten every month. When a customer signs up, we offer them a policy and a renewal of that policy for the next policy period at the same time. This is repeated every month.
The limit of the policy is 1 week, 168 hours, of downtime in a policy period. The dollar amount is calculated based on their revenue and the insured will select the specific limit amount when they get a quote. This is an aggregate limit so the 168 hours do not have to be continuous.