Chubb Corp. is offering liability protection to financial institutions that conduct E-commerce. Under its new CyberSecurity liability policy, banks, insurance companies, investment firms, credit unions, and other financial institutions are protected from personal-injury and advertising-injury claims resulting from cyber activities, filling many gaps in current general-liability products.

The policy also can provide coverage for conduit injury, including system security failures that result in harm to customers' or other third-party systems. Other areas of liability protection include trademark, copyright and intellectual property infringement; injury to reputations, including invasion of privacy; and disclosure injury, including system security failures that result in dissemination of private information on the Internet.

Chubb executives say companies falsely assume that their general liability insurance policy is enough for online exposures. However, most provide only limited online coverage.