The Insurance Council of Australia (ICA) released its 'E-commerce Crime And Vandalism Defence Plan' today to identify online legal risks.
The plan lists computer hackers, poor implementation of security policies and lack of awareness among employees as the greatest threats to e-commerce.
Alan Mason, ICA executive director, said insurers are exposed to risk if organisations do not have procedures in place to secure systems.
"Every possible precaution needs to be taken to minimise the impact of e-commerce crime on premiums," he said.
The plan was launched jointly with the Australian Security and Investment Commission (ASIC) deputy chair Jillian Segal.
The Australian Computer Emergency Response Team has recorded a jump in computer security incidents from 2000 in 1999 to 8000 last year.