Suggested
Commercial Insurance
Safeguard your business from cyber threats with comprehensive protection
Inclusions
What’s covered?Third Party Liability - Privacy and Data Breach Cover
Pays agreed amount for all Damages, Defence Costs, and Response Costs for Privacy or Data Breach Claims first made or discovered during the Period of Insurance or Discovery Period
Network Security Claims Cover
Pays agreed amount in case of all Damages and Defence Costs from Claims first made during the Period of Insurance or Discovery Period for a Security Wrongful Act
Media Liability Claims Cover
Pays agreed amount in case of all Damages and Defence Costs from Claims first made during the Period of Insurance or Discovery Period for a Media Wrongful Act
Regulatory Costs and Fines Cover
"Pays agreed amount in case of all Fines, Penalties, and Defence Costs from Claims by a Regulator first made during the Period of Insurance or Discovery Period for a Data Breach or Privacy Breach
E-Payment / Contractual Penalties
"Pays agreed amount in case of all Damages, Contractual Penalties, and Defence Costs from Claims by an E-Payment Service Provider first made during the Period of Insurance or Discovery Period for a negligent breach of PCI DSS compliance
First Party Business Interruption Loss and Restoration Costs Cover
Pays agreed amount in case of Business Interruption Loss and Restoration Costs due to a Business Interruption Event first discovered during the Period of Insurance
Hacker Theft Cover
Pays agreed amount in case of IT Theft Loss sustained as a direct result of IT-Theft first discovered during the Period of Insurance
Cyber Extortion Cover
Pays agreed amount in case of Cyber Extortion Loss incurred due to a Cyber Extortion Threat first discovered during the Period of Insurance, with conditions for confidentiality, law enforcement notification, and mitigation efforts
Crisis Communication Cover
Pays agreed amount in case of Public Relation Expenses to prevent or reduce negative publicity from an event covered under this Policy
Consultant Services Cover
Pays agreed amount in case of Consultant Costs incurred to prove and mitigate a covered Loss, or investigate a suspected Privacy Breach, Cyber Attack, or Business Interruption Event and its causes
Note
Please read policy wording for detailed inclusions
Exclusions
What’s not covered?Dishonest or Improper Conduct
Excludes claims from deliberate, criminal, fraudulent, or malicious acts, intentional violation of duties, or intentional business interruption by key executives. Defence Costs are advanced until a final decision or written admission proves such behavior, after which repayment is required
Bodily Injury and Property Damage
Excludes claims for bodily injury, sickness, mental anguish, emotional distress, disease, death, or damage to tangible property, except for mental anguish from a Privacy Breach or Media Wrongful Act, and loss or theft of the Company’s Computer Systems
Contractual Liability
"Excludes liability under any contract, agreement, guarantee, or warranty unless such liability would have attached in the absence of the contract
Prior Claims and Circumstances
Excludes claims, data breaches, privacy breaches, cyber extortion threats, wrongful acts, or any related circumstances notified to prior policies or known before the insurance period
Trade Secrets and Intellectual Property
Excludes claims of actual or alleged plagiarism or infringement of trade secrets, patents, trademarks, trade names, copyrights, licenses, or any other form of intellectual property
War, Terrorism and Governmental Acts
War, Terrorism, looting and Governmental Acts.
Trading
Excludes losses or liabilities connected with purchase or sale transactions or dealings in securities, commodities, derivatives, Federal funds, currencies, foreign exchange, and similar activities
Unauthorised Collection of Data
Excludes claims for unlawful or unauthorized collection of personal data or Client Information, except when collected by employees without directors' or officers' knowledge or approval
Licensing Fees
Excludes claims for actual or alleged licensing fees or royalty payments, including any obligation to pay such fees or royalties
Antitrust
Excludes claims for actual or alleged antitrust violations, restraints of trade, or unfair competition
Unsolicited Communication
"Excludes claims for distribution of unsolicited correspondence or communications, wire tapping, audio or video recordings, or telephone marketing
Note
Please read policy wording for detailed exclusions
Additional Covers
What else can you get?Discovery Period
Pays agreed amount in case the Policy is not renewed or replaced, granting a 60-day Discovery Period, extendable upon written request and additional premium payment within 60 days of expiry
Emergency Costs
Pays agreed amount in case of retroactive approval for reasonable Defence, Response, Restoration, or Consultant Costs when prior written consent isn't possible
Note
Please read policy wording for detailed extenions.
Corporate cyber insurance provides businesses with protection against the financial consequences of cyber-attacks, data breaches, and other digital threats. As cybercrimes continue to rise in frequency and sophistication, this coverage is essential for safeguarding sensitive data, ensuring business continuity, and maintaining a company’s reputation.
Corporate cyber insurance is specifically crafted to shield businesses from the financial losses associated with cyber threats, data breaches, and network security vulnerabilities. This coverage helps businesses manage legal fees, financial losses, and reputational damage resulting from cyber incidents.
By providing financial support for recovery and mitigation efforts, cyber insurance ensures that a business can quickly bounce back from a breach or attack, minimizing downtime and protecting its brand. In today’s interconnected world, it’s a critical investment for maintaining business continuity and securing sensitive information.
Corporate cyber insurance provides essential protection for businesses facing a wide range of cyber threats. It offers coverage for:
● Third Party Liability: Protects against privacy and data breach claims, including defense costs and damages.
● Network Security Claims: Shields businesses from wrongful acts related to network security.
● Media Liability: Covers claims like defamation or misinformation in digital media.
● Regulatory Costs: Includes legal fees and fines due to regulatory violations in the event of a breach.
● Business Interruption: Covers loss of profit from operational disruptions caused by cyberattacks.
● Hacker Theft : Provides protection from theft resulting from cybercriminal activity.
● Cyber Extortion: Protects against incidents such as ransomware attacks.
● Crisis Communication: Helps cover public relations expenses to manage negative publicity following a breach.
● Consultant Services: Ensures coverage for expert services to help mitigate and manage the fallout from cyber incidents.
This comprehensive coverage ensures businesses can recover swiftly from cyber crimes, minimizing financial loss and reputational damage. Corporate cyber insurance is a vital investment to secure a business’s digital infrastructure in an increasingly vulnerable landscape.
Corporate cyber insurance protects businesses from financial losses due to cyber-attacks, data breaches, and network security failures. It covers the costs of repairs, legal fees, settlements, and associated expenses, ensuring businesses are shielded from significant financial impact.
With evolving data protection regulations like GDPR and CCPA, businesses must comply with strict legal standards. Cyber insurance helps cover legal costs, fines, and penalties (subject to insurable by law) ensuring that businesses remain compliant even after a breach.
Cyber-attacks can disrupt operations, causing downtime and financial losses. Cyber insurance covers loss of profit from business interruption, data restoration enabling quick recovery and ensuring that businesses can resume normal operations swiftly.
Cyber incidents can damage a company’s reputation. Insurance helps cover crisis communication expenses, aiding businesses in managing public relations and restoring trust with stakeholders.
With a solid cyber insurance policy, businesses can focus on growth, knowing they have a structured plan in place to handle cyber risks effectively. Corporate cyber insurance is essential for safeguarding against the growing threats in today’s digital world, helping businesses recover quickly and maintain operational integrity. Coverages of Corporate Cyber Insurance
Protects against the financial impact of unauthorized data access or breaches, including notification costs and potential legal claims which includes response cost, credit monitoring expenses
Covers claims resulting from cyber-attacks, data breaches, or system failures, helping businesses manage legal and operational repercussions.
Compensates for lost income due to operational disruptions caused by cyber events, ensuring financial stability during recovery.
Covers ransom payments and related costs in case of cyber extortion, such as ransomware attacks, ensuring a company can respond effectively to such threats.
Helps cover legal defence costs, fines, and penalties related to data breaches and non-compliance with data protection laws, supporting businesses in managing the financial burden of regulatory violations.
Policy covers Consultant Costs incurred by the Insured in order to prove the amount and the extent of a covered Loss and to investigate the source of such Loss and adequate steps to mitigate it. These types of coverage are crucial for businesses to manage the wide-ranging risks posed by cyber threats.
Corporate cyber insurance is essential for businesses to manage the financial risks of digital threats. With the rise in cyber-attacks, data breaches, and evolving security risks, having a solid insurance policy helps mitigate the costs associated with these incidents. It protects businesses from the financial impact of data loss, hacking, and regulatory fines (insurable by law), business interruption loss of profit, forensic expenses incurred. This coverage is particularly vital for businesses dealing with sensitive data or operating in industries prone to cyber threats, providing peace of mind and helping manage potential financial setbacks effectively.
Corporate cyber insurance is crucial for businesses that handle sensitive data, particularly in industries such as healthcare, finance, retail, manufacturing and technology. With the increasing frequency of cyber-attacks, businesses that operate online or store confidential information—such as personal, financial, or medical data—are at significant risk. Even small businesses are vulnerable to cyber threats, making it essential to have cyber insurance to protect assets and ensure continuity. This coverage helps maintain operational integrity, minimize financial losses from data breaches or system failures, and facilitates a swift recovery after a cyber incident, safeguarding both reputation and operations.
Eligibility for corporate cyber insurance typically requires:
● A registered business entity
● A functioning IT infrastructure with basic cybersecurity measures in place
Each insurance provider may have specific requirements based on your business size, industry, and risk profile.
Documents typically required to obtain corporate cyber insurance include:
● Proof of business registration
● List of subsidiaries
● Projected revenue with geography wise break up
● Information about your IT infrastructure and cybersecurity measures (ISMS, BCP, DRP documents, VAPT report)
● Risk assessments report
● Records of any previous cyber incidents or claims (if applicable) along with forensic report etc.
These documents assist insurers in evaluating the potential risks and setting an appropriate coverage level for your business.
Premiums for corporate cyber insurance are calculated based on several factors:
● Business Size: Larger businesses with more extensive operations and data volumes may face higher premiums.
● Cybersecurity Measures: Strong security protocols and proactive risk management can help lower premiums.
● Industry Type: Sectors with a higher risk of cyber threats, like healthcare and finance, may face increased premiums.
● Claim History: A history of previous cyber incidents or claims can raise premiums.
The premium also reflects the level of coverage selected, such as adding data breach protection or cyber extortion coverage. Insurance providers evaluate these factors to determine the overall cost of the policy.
Get instant access to your policy details with a single click.
Bajaj Allianz General Insurance provides comprehensive corporate cyber insurance solutions designed to meet the needs of businesses of all sizes. With customizable coverage options, expert claims assistance, and fast response times, we ensure that businesses are safeguarded against a broad spectrum of cyber threats.
Bajaj Allianz General Insurance’s customer-centric approach offers businesses peace of mind, knowing they have a reliable partner in managing digital risks. Whether you're protecting against data breaches, network security failures, or cyber extortion, we are a trusted provider for robust and reliable cyber protection.
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Instant Generation of Risk Report
It helps Provide Risk Recommendations, Risk Quality Rating (RQR), Peer Comparison & GAP Analysis for the client
Step-by-Step Guide
How to Buy
0
Visit the Bajaj Allianz General Insurance website
1
Fill in the lead generation form with accurate details
2
Get quote, make payment and receive the policy documents
How to Renew
0
Contact the Policy Issuing Office
1
Review expiring policy and share necessary details
2
Receive renewal quote
3
Make renewal payment
4
Receive the renewed policy documents via email
How to Claim
0
Contact us through our customer service touchpoints
1
Submit the claim form along with the necessary documents
2
Provide details of the incident and any supporting evidence
3
Cooperate with the claims investigation process
4
Receive the claim settlement as per the policy terms
Know More
0
For any further queries, please reach out to us
1
Toll Free : For Sales :1800-209-0144
2
Email ID: bagichelp@bajajallianz.co.in
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Business Eligibility
The policy caters to businesses, from small shops to large commercial establishments. Coverage is designed to protect property, stock, and essential business assets.
Raj Kapoor
Gujarat
22nd Dec 2024
Coverage Benefits
The policy provides coverage against fire, burglary, natural disasters, and accidental damage. It ensures complete protection for business premises and assets, giving peace of mind to business owners.
Meena Sharma
New Delhi
10th Jan 2025
Buying Bajaj Allianz Commercial Property Insurance
Buying my Commercial Property Insurance from Bajaj Allianz was effortless. The process was clear, quick, and hassle-free. I received my policy instantly, ensuring my business is well-protected.
Rajesh Malhotra
Andhra Pradesh
5th Feb 2025
Customisation and Add-Ons
The policy offers various add-ons like loss of rent cover, debris removal, and architect fees, providing enhanced protection tailored to your business needs.
Rohit Mehta
Uttar Pradesh
5th Oct 2024
Claim Settlement Process
Bajaj Allianz ensures a quick and transparent claims process. With proper documentation, claims are processed efficiently, minimising business downtime.
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Rajasthan
15th Nov 2024
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