Patent ID: 8566127

Claim:
A method of providing on-demand access to intermittent risk exposure insurance, comprising: (a) establishing an Internet Web site; (b) providing access to said Internet Web site to an insured and one or more insurers; (c) the insured and an insurer, through said Internet Web site, entering into an insurance contract for a coverage period for actual risk exposure for one or more intermittent risks, where entering into said insurance contract is performed in real time and in parallel; (d) the insured entering for the coverage period a start and stop time and one or more of said risks through said Internet Web site, whereupon, in real time and parallel, the insured is provided costs of insurance coverage for the coverage period by a computer associated with the Internet Web site and accepts such costs; (e) as time progresses, logging an actual start time for the coverage period via said Internet Web site indicating a start of actual risk exposure in the coverage period in which insurance coverage and costs actually begin to accrue only upon the actual start time; (f) the insured entering new start and/or stop times in real time and in parallel when the period of the intermittent risk changes to assure that insurance coverage is in force for the new time period; and (g) the computer associated with the Internet Web site recalculating the cost of insurance coverage for the new start and/or stop times, storing the recalculated cost of insurance coverage and the new start and/or stop times to indicate that the insured has valid insurance coverage for the time periods associated with the new start and stop times.