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Microcap & Penny Stocks : JAWS Technologies - NASDAQ (NM):JAWZ -- Ignore unavailable to you. Want to Upgrade?

To: j.oil who wrote (2946)	5/5/2000 9:19:00 AM
From: j.oil	Read Replies (2) \| Respond to of 3086

Jaws in today's National Post: Calgary's Jaws to help firm offer virus insurance Anti-hacker policies: Announcement made on day Love Bug hit Jill Vardy Financial Post Jaws Technologies Inc. is helping a large U.S. insurer offer what's being billed as the most complete anti-hacker insurance policy in the world. Calgary-based Jaws is working with insurance firm Marsh Inc. on its Net Secure program, which provides up to $200 million (US) in coverage against business losses from hacker attacks and damage caused by viruses. The two companies announced the deal yesterday as companies and government departments worldwide were bogged down by the so-called "Love Bug" virus. Anti-hacker insurance is a new type of policy that has seen a sharp jump in popularity since last February's wave of hacker attacks against large e-commerce businesses. Jaws is doing the security consulting and risk assessment for Marsh, which was one of the first to offer anti-hacker insurance and whose policy is the most extensive, the company claims. Jaws will evaluate the e-business security risks of clients enrolling in Net Secure. Yesterday's havoc caused by the Love Bug virus virtually shut down some government departments and business divisions, but did not appear to cause the financial damage of February's spate of denial of service attacks against such companies as e-Bay, Yahoo, Amazon.com, Buy.com, ZDNet, eTrade, CNN and others. "The e-Bay incident really propagated an awareness of these risks. Companies are now saying wow, I should think about this," said Leanne Bucaro, director of media relations for Jaws. Emily Freeman, practice leader for e-business resolution at Marsh, said the popularity of the Net Secure package had boomed since the February attacks. "Their success and the rapidity at which they happened has led to a new appraisal that these risks can't be managed by technology alone," Ms. Freeman said. "Despite all the best security measures out there, there are always potential for security problems." "The events of today with the virus reminds us what a catch-up game anti-virus protection is. It's very difficult to keep ahead of the curve. And what may start out as a nuisance may have devastating financial consequences," she added. Net Secure will provide up to $200 million (US) in protection against not only direct loss to business, but also litigation risks resulting from the exposure of third parties to the damage; frauds, security breaches that cause a company to disclose confidential data, passing on a virus to someone else, intellectual property infringements, among others. "It fills in the gaps in areas where traditional insurance coverage doesn't go far enough," Ms. Freeman said. Insurers offering anti-hacker policies also offer services to help companies protect themselves against hacker attacks and minimize the damage if they're hit. "We're not saying buy insurance in lieu of good risk control... that's why we partnered with Jaws," she added. Marsh is one of several companies offering anti-hacker insurance policies. For example, Lloyd's of London's Computer Information and Data Security Insurance offers up to $50 million (US) of theft and malicious damages protection and business interruption coverage, along with computer security surveying and loss control services. The minimum premium is $10,000 (US).