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Volume 32, Issue 3

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Tuesday, 20 November 2007 23:59

Insurance Coverage for Lost Electronic Data: Are You Covered When You Crash

Written by  Cary Ichter

This is the “Information Age,” meaning that today, access to and the use of information is critical to virtually every aspect of our lives. Nowhere is this more true than in business. Indeed, electronically stored data is perhaps corporate America’s single most valuable asset. Many companies simply could not operate without access to store electronic data. Electronic data is subject to being lost in a number of ways. Rogue hackers and evil cyber-geniuses can unleash fierce virulent viruses that can corrupt and wipe out enormous volumes of data. Data can be lost when malfunctions in systems, software or support infrastructure, such as power surges and power outages, result in the corruption of data. When a business’ physical plant is damaged, such as in a fire, it may also lose essential electronic data. Sometimes, data can be lost simply because some of us do not entirely understand how to operate the magic