The risks and benefits of accessing insurance through the Internet will be the topic for an on-Island conference this week.

The Bermuda Insurance Institute is hosting the event -- "E Insurance, Ready or not here I come'' -- starting tomorrow at the Bermuda Underwater Exploration Institute.

Local speakers will join overseas representatives to cover a variety of subjects including "mitigating the risks of e-business'' and "business-to-business''.

Bermuda Insurance Institute director of information and marketing Pete Doyles said: "This is an information type event where people will attend to find out how other companies are doing it and therefore learn from it.'' And he said the growth of Internet-related business was such that, when the first conference was held a few years ago, organisers had to canvas for delegates whereas now they flocked to the event.

Of the many subjects, speakers will address the risks of selling insurance products over the web and how they can insure against the danger of hackers ruining their work.

"Because it is new, litigation is starting for abuse of e-commerce, we have a lawyer coming down from the US who has experience in that. He will tell us what new business has emerged from that.'' In addition, delegates will hear of new products on the market and how they can get insurance for their web sites.

William Woods of the Bermuda Stock Exchange will talk about how dealing with claims has been speeded up with the Internet.

Mr. Doyles said e-commerce could slash the cost of transactions from several dollars to just a few cents.

Other speakers include Peter Durhager of Promisant, Tony Nagel of Quo Vadis and William Savino of Rivkin, Radler and Kramer, who will talk about emerging business torts in the information age.

Up to 100 people are expected to attend the conference, which is one of a series of yearly events hosted by the Bermuda Insurance Institute.