A method and system for indemnifying an insurance purchaser by an insurance provider against losses resulting from specified events. In one embodiment, the specified events include quality of service penalties of a service level agreement between a service provider and service purchaser. The invention may include at least one risk metric monitored via a communication network, such that a premium payable to the insurer by the insurance purchaser is dependent on the risk metric. In a particular configuration of the invention, the risk metric is monitored in real-time or near real-time.