The unique challenges of online business require unique solutions for e-commerce insurance in New Jersey. The following are some of the key protections e-commerce policies can provide:
- Data Security – An e-commerce policy protects you from liability in the event your data security is breached. Data loss is also covered, which could be of interest to businesses that process and store certain kinds of information for others.
- Third-Party Protection – This type of e-commerce insurance in New Jersey is there when a supplier of products or services fails to meet their obligations, negatively impacting your business. This could be because of inability to fulfill promised supply or because of delivering a defective product.
- Physical Damage – All companies own physical assets of some kind. This aspect of coverage is split into general liability and products liability. Products liability, which protects against lawsuits due to defective products, is especially important.
- Directors and Officers Liability Protection – This coverage protects the company from claims derived from a perceived failure on behalf of company executives to lead the business in a way that safeguards the interests of investors and shareholders.
Even a brief look at e-commerce insurance in New Jersey makes it clear that any online business could benefit greatly from a comprehensive policy. Consult with an insurance professional to discuss your options.