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June 18, 2018

What Does Cyber Insurance Cover?

Bajaj Allianz Cyber safe Insurance

Cyber Insurance aka Cyber Liability Insurance means safeguarding yourself, financially, against cyber-attacks such as identity theft, phishing, email spoofing, IT theft loss etc. In today's digital era, cyber insurance should have made its place in your basic priority list. You are, more often than not, on the internet all day long. This exposes you to the risk of being the target of various types of cyber-attacks.

Cyber-Attacks coveredunder Cyber Liability Insurance:

At Bajaj Allianz we cover youagainst the 10 most common types of cyber-attacks under a single insurance policy:

  1. Identity Theft
  2. Social Media Liability
  3. Cyber Stalking
  4. Malware Attacks
  5. IT Theft Loss
  6. Phishing
  7. Email Spoofing
  8. Media Liability
  9. Cyber Extortion
  10. Privacy & Data Breach by Third Party

Cyber Liability Coverage & Features:

  1. CyberSafe is the only cyber insurance policy, in the Indian insurance industry, which is specifically designed for individuals.
  2. Multiple coverage options are available at affordable premiums (starting from INR 700).
  3. Sum insured options range from INR 1 lakh to INR 100 Lakhs.
  4. Individuals above 18 years of age can purchase this policy.
  5. This cyber insurance policy is an annual policy.
  6. Covers the IT consultant costs incurred with its IT Consultant services cover.
  7. Covers the reasonable cost of treatment in case counselling services are needed by the insured due to cyber-attack.
  8. Covers defense, prosecution and transportation & photocopy costs in case of identity theft, social media liability and media liability cyber-attacks.
  9. Reimburses restoration costs in case of malware attacks.
  10. Financial loss is covered in case of IT theft loss, phishing and email spoofing.
  11. Any digitally written communication through email or any authentic source which can be tracked through electronic means, forms part of this policy.

Cyber Insurance Policy Exclusions:

  1. Dishonest and improper conduct
  2. Bodily Injury / Property damage
  3. Unsolicited Communication - any telephonic communication/spam/fraud are not the part of this policy
  4. Unauthorized Collection of data
  5. Immoral / Obscene Services
  6. Online trading and loss of crypto-currency
  7. There is no excess in the policy

Cyber Insurance Coverage Checklist:

Cyber-Attack Defense Cost Prosecution Cost Financial Loss Restoration Cost
Identity Theft        
Social Media Liability        
Cyber Stalking        
Malware Attack        
IT Theft Loss        
Phishing        
Email Spoofing        
Media Liability        
Cyber Extortion        
Privacy & Data Breach by Third Party        

Disclaimer

I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

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