Internet Risks Insurance

Insurance industry offers classic cover for material losses in relation with natural and other risks, but is constantly developing and provides protection also from newly emerging risks associated with the development of science and technology. Protection against nuclear risks, civil liability related with use of complex methods and devices, are examples of insurers answer to the contemporary customer needs.
The development of information technology triggered the need to provide insurance protection and cope with the consequences of new risks. The traditional insurance policies are written with new clauses expanding the coverage for damages that are the result of partial or total destruction of computer, but insurers also offer special policies that apply only to Internet risks. This article analyzes the policies that cover the risk of civil liability for damages related with breach of personal information, violation of reputation and dignity of clients and third parties, infringement of intellectual property rights and policies that provide protection from direct damages that are the result of hacking attacks. Insurers are trying to adapt the coverage to the individual needs of the insured, but is often difficult to meet the requirements and to carry out the risk assessment because of the continuous development of information technology and its complexity. The most adequate solutions that would be in accordance with existing regulations in the field of insurance and regulations on the protection of information systems and personal data are yet to be found. The article points out the problems that insurers meet in relation with specific risks and the possible solutions for the insurance market of Serbia in order to develop a new product that would be in the interest of those who are undoubtedly exposed to Internet risks.