ImageCyber Insurance – Get Cyber Security/Risk Insurance Policy Quote in India

The Benefits of Cyber Insurance

Comprehensive Cover

Cyber Insurance offers comprehensive protection by covering damage or losses to first party and third party due to events like a system security breach, payment flaw, data fraud and other internet related risks.

Industry Specific

The coverage of Cyber Insurance or Cyber Liability policy varies considerably as per industry risks. For instance, coverage for an E-commerce firm or a Financial Services firm will vary as they have more risk of cyber attack potentially causing loss. The Insurance we help you to select factors in the right risk level for you.

Universally Recognised

Cyber Insurance meets your contractual requirements. It is also recognised by international laws, investors, external agencies and multi-national organisations, hence it helps to protect your business internationally.

Easy Documentation

Getting Cyber Insurance or Cyber-Security Insurance is quick and easy. Also, the documentation process for buying the policy is simple. You just need to provide the basic information to get quotes from multiple insurers before buying.

Quick Guide to Cyber Insurance

What is Cyber Risk Insurance?

Cyber Security Policy is known by many names- cyber risk insurance, cyber security insurance, cyber insurance policy or cyber liability insurance. It is an insurance plan that an organization should purchase to mitigate the financial risks arising out of first party & third-party losses caused due to internet related risks such as large-scale breach of data, business interruption, cyber-attacks and other cyber incidents.

It protects commercial businesses against losses arising out of risks associated with internet, information-technology, network and data processing. These risks include:

  • Business interruption
  • Restoration
  • Crisis communication
  • Data breaches
  • Network interruption
  • Notification expenses etc.

What is the importance of Cyber Insurance

In today's digital world of net banking, social media and e-commerce, individual's personal data transfer and storage on various digital devices is growing at a significant rate. For companies having access to customers' personal data, one of the primary responsibilities is to keep the data secure. Cyber Security Insurance provides protection to the companies against the liabilities arising from cyber-attacks. It offers a comprehensive protection against first and/or third-party liabilities arising due to system security breaches, flaws in payment portals, data fraud and/or any other internet related risks. The importance of cyber risk insurance for businesses that run the risk of cyber-attacks is indescribable.

Cyber Insurance Policy in India Statistics

As a large developing country where IT BPM contributes to 8% of the GDP and the same industry generated a revenue of 51.1% in fiscal year 2021, followed by software products and engineering services with a share of 21.1%, it is important that we discuss cyber risks and cyber insurance.

India currently ranks as the sixth most data breached country since the first recorded digital attack in 2004, as revealed by the new report by cyber security company Surfshark. To be more specific, 18 out of every 100 Indians had their personal contact details breached. Giants such as Domino’s, Facebook, Mobikwik, Air India and Upstox faced major data breaches in India in 2021. This brings us to emphasize more on cyber insurance that’ll serve to save the business owners from potential internet related risks.

Features of Cyber Insurance

Primary features of Cyber Risk Insurance are mentioned below:

  • The policy provides protection against theft of funds or data due to cyber event/hacking.
  • Cyber security insurance policy can cover for data restoration cost due to malware and also provides a phishing cover.
  • The policy can protect you from financial losses arising from a fraudulent payment, a spoofed email attack and provides expenses to prosecute perpetrators.
  • It is a comprehensive plan that provides protection to the insured in terms of defense costs arising due to claims made against them by a third-party for fraudulent cases such as identity theft, replication of social media content, data theft, etc.
  • It provides an indemnity cover and provides for the defense cost in case any claim is lodged by a third-party for reasons such as data breach, defamation, invasion of privacy, data piracy and so on.

A cyber security insurance policy has a lot of benefits that cannot be emphasized more. If you are a business owner of someone who is in the business of data, get cyber risk insurance from us now.

Benefits of Cyber Insurance

Benefits of a Cyber Security Insurance in India are:

  • This insurance plan provides financial protection against first and third-party liabilities occurring due to data breaches, business interruptions, and/or any other cyber risks
  • The insurance pays for restoration costs, crisis communication costs etc. and provides cover against internet and information-technology related threats
  • This policy covers for cyber-attacks, cyber incidents, fraudulent or malicious acts by employees
  • This policy covers for your privacy risk, security risk, operational risk and service risk
  • The disclosure liability coverage of this policy is extended to outsourced services such as data storage and data processing services

How to get Cyber Security Quotes in India

At SecureNow, we understand that no two businesses are alike and no two businesses will have the same requirement. We have designed a comprehensive platform that can show you quotes for a cyber security policy in India which will give you an idea of the premiums that will be charged based on the insurer, coverage and industry type. You just have to submit your basic details on the form above, choose your industry of operation and you’ll receive quotes from various insurers and the details will show the coverage offered. Since, we understand that buying cyber risk insurance in India needs a lot of scrutiny, we will get back to you within 24 hours to understand your requirements better and help you buy the best cyber policy your business needs.

What is Covered under Cyber Risk Insurance

Cyber Risk Insurance provides comprehensive coverage against first party and third-party losses. This insurance covers costs of:

  • Forensic investigation of breach
  • Legal advice
  • Proper notification and credit monitoring for affected persons
  • Crisis management
  • Public relation expenses
  • Civil lawsuits, settlements and regulatory penalties resulting from a cyber incident

What is Not Covered under Cyber Risk Insurance

Cyber Insurance Policy does not provide coverage for the below mentioned risks:

  • Bodily injury or damage to property
  • Unauthorized data collection
  • Fraudulent act
  • Consequential losses or damage
  • Unexplained losses

Frequently Asked Questions

Cyber risk insurance in India is important for businesses and individuals dealing with data. This insurance provides a comprehensive coverage against the losses arising out of the risks related to internet and information & technology. This insurance covers legal fees as well which will be necessary as in when a third-party file a claim owing to any internet related risks.
Yes, small businesses need cyber security insurance. Small and medium enterprises (SMEs) need this insurance to protect themselves from losses arising out of cyber-attacks such as malware, identity theft, phishing etc. which would otherwise eat up their profit and earnings. A claim filed against an SME can hamper its growth as the penalty charged can be 10 times of the damage caused, which can be adverse for a small or medium enterprise.
Any business dealing with data and the internet needs cyber security insurance. Below are a few instances:
  • Organizations which create, store and manage data, such as customer’s contact details, transaction details etc., online need such an insurance to protect them from liabilities arising due to claims raised by the customers in case of any mishap.
  • E-commerce business, as downtime related to cyber incidents may reduce the number of customers and cause loss in sales. So, a cyber policy will protect from financial losses.


What are the different types of Losses Covered by Cyber Risk Insurance?

Cyber Risk Insurance covers the losses relating to damage or loss of information from systems and networks. Such policies include significant assistance including management of the incident itself. When one gets such a policy, it is essential to understand if the policy covers only first-party risk or also third-party risks....
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What are the Common Exclusions of Cyber Risk insurance?

The uptake of Cyber insurance policies has grown rapidly due to the constant threat of hacking and cyber-attacks on an organization’s database. It is vital to know what the cyber policy covers while buying a policy and claiming the same. All insurance policies have some or other exclusion and since cyber insurance is relatively....
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What does a cyber insurance policy cover?

A cyber insurance policy also known as the cyber liability insurance or cyber risk insurance coverage helps organisations to mitigate risk by offsetting costs involved with recovery after a cyber-related security breach or similar event takes place.

Most sophisticated organisations can deploy the best cybersecurity protocols....

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Why SecureNow?

Deep Product Knowledge

We have specialized underwriters and tie-ups with international experts.

Cost-effective Insurance

We work with all insurers to get you the best options- both in terms of price and features.

Quick Turnaround Time

Cover notes are issued within hours of request. This documentation is sufficient for any contractual requirement.

Strong Claims Support

We manage all aspects of your claim - from preparing documentation to follow-up with the insurer.

Value-Added Services

We will advice you on risk management best practices.

Policy Administration System (PAM)

See all your contracts renewal information in one place. Place service requests on PAM.