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Cyber Insurance

Get ₹1 crore insurance cover starting
at just ₹50,000 per year* for your business
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No Business is Too Small for Cyber Risks

Cyber Risk
Indian businesses face around 2,100 cyber attacks every week. Average recovery cost from the impact of ransomware attacks stands at $1.1million. Small companies that use technology are more prone to such risks. These risks are hard to predict or prevent, but a cyber insurance policy can help.
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    What does a Cyber insurance policy cover?

    A cyber insurance policy covers financial losses from a privacy or security breach. It also pays for rectifying the damage through legal help, investigators, crisis communicators, and forensics.

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    Cyber Insurance Policy
    Cyber Insurance Policy Cover

    Who is covered?

    The policy covers the company and its key managerial personnel like Directors, CFO, CTO, CISO, etc.

    We have partnered with Tier 1 Insurance Companies and world’s largest AA- rated reinsurer to bring this vital product to companies like yours.

    Does your company need a Cyber policy?

    Both public and private companies that handle, generate, collect, store, process, or transmit any of the following types of data in their day-to-day operations should consider buying a cyber insurance policy.

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    Cyber Insurance

    Personal Financial Information (PFI)

    This includes sensitive data like credit card numbers, bank details, tax forms, invoices, and financial statements.
    Personal Identifiable Information (PII)

    Personal Identifiable Information (PII)

    Any information that can be used to identify, contact, or locate an individual, such as name, address, date of birth, mobile number, email IDs, PAN number, Aadhaar number., etc.
    Personal Health Information (PHI)

    Personal Health Information (PHI)

    This encompasses physical, psychological, and mental health conditions, as well as medical records and histories.
    Cyber Insurance

    Personal Financial Information (PFI)

    This includes sensitive data like credit card numbers, bank details, tax forms, invoices, and financial statements.
    Personal Identifiable Information (PII)

    Personal Identifiable Information (PII)

    Any information that can be used to identify, contact, or locate an individual, such as name, address, date of birth, mobile number, email IDs, PAN number, Aadhaar number., etc.
    Personal Health Information (PHI)

    Personal Health Information (PHI)

    This encompasses physical, psychological, and mental health conditions, as well as medical records and histories.
    Getting cyber insurance can protect your company from the financial and reputational risks of cyber attacks.

    The Power of Cyber Insurance

    One day, as the bustling city of Mumbai went about its business, a silent threat was making its way towards an upcoming clothing brand. A group of cybercriminals managed to breach the brand’s website, gaining access to customer data, including names, addresses, and even some credit card information. Panic ensued when the businessowner discovered the breach. He feared the worst – his customers’ trust shattered, his reputation tarnished, and the financial repercussions that could have brought down his brand.

    Fortunately, having a cyber insurance policy proved crucial. Rapid response from cybersecurity experts was backed by the policy, covering expenses for breach containment, customer notifications, and public relations management. The brand not only weathered the storm but also emerged stronger, showcasing the pivotal role of cyber insurance in safeguarding businesses from modern digital threats.

    Cyber Security

    Cyber
    Security

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    Why invest in a Cyber policy?

    Protect Personal Data

    If your business handles a lot of personal data, you might have to comply with data breach laws. Cyber insurance helps with the costs of breaches.

    Technology Dependency

    If your business heavily relies on technology, a disruption could lead to significant operational setbacks. Cyber insurance can mitigate the effects of such technology-related disruptions.

    Board’s Accountability

    With cyber security gaining prominence, board of directors are increasingly responsible for company-wide security. A cyber policy reflects diligent oversight.

    Contractual Obligations

    Many contracts need cyber insurance. It’s must for business relationships.

    Comprehensive Incident Response

    Cyber policies include a ready-made incident response plan, offering access to expert vendors in areas like legal guidance, IT forensics, consumer notification, and public relations.

    Rising Breach Costs

    In 2023, the average cost of a data breach in India reached an all-time high of INR 179 million, marking a nearly 28% increase since 2020. Having a cyber policy can effectively help mitigate these rising expenses.

    *IBM Security’s Cost of Data Breach Report

    Protect Personal Data

    If your business handles a lot of personal data, you might have to comply with data breach laws. Cyber insurance helps with the costs of breaches.

    Technology Dependency

    If your business heavily relies on technology, a disruption could lead to significant operational setbacks. Cyber insurance can mitigate the effects of such technology-related disruptions.

    Board’s Accountability

    With cyber security gaining prominence, board of directors are increasingly responsible for company-wide security. A cyber policy reflects diligent oversight.

    Contractual Obligations

    Many contracts need cyber insurance. It’s must for business relationships.

    Comprehensive Incident Response

    Cyber policies include a ready-made incident response plan, offering access to expert vendors in areas like legal guidance, IT forensics, consumer notification, and public relations.

    Rising Breach Costs

    In 2023, the average cost of a data breach in India reached an all-time high of INR 179 million, marking a nearly 28% increase since 2020. Having a cyber policy can effectively help mitigate these rising expenses.

    *IBM Security’s Cost of Data Breach Report

    What’s covered?

    • Legal costs from cyber incidents
    • Cyber extortion/ransom amount
    • Fixing compromised data
    • Managing public relations
    • Support for identity restoration
    • Handling legal expenses
    • Paying fines from investigations
    • Compensation for lost profits during disruptions

    What’s not covered?

    • Losses from trading or investments
    • Incidences that arise before buying the policy
    • Physical harm or property damage
    • Trading losses and unauthorised trading
    • Infringement on patents and trade secrets
    • Legal costs from cyber incidents
    • Cyber extortion/ransom amount
    • Fixing compromised data
    • Managing public relations
    • Support for identity restoration
    • Handling legal expenses
    • Paying fines from investigations
    • Compensation for lost profits during disruptions
    • Losses from trading or investments
    • Incidences that arise before buying the policy
    • Physical harm or property damage
    • Trading losses and unauthorised trading
    • Infringement on patents and trade secrets

    Claims Roadmap

    Acknowledgment and Co-ordination

    1. Acknowledgment and Co-ordination

    Once the cyber breach is acknowledged, a coordinated response begins, involving breach counsel, and IT forensics specialists.
    Independent Investigation

    2. Independent Investigation

    IT forensics experts conduct an in-depth investigation, analysing the incident’s cause, origin, scope, and suggesting network/system improvements.
    Cyber Extortion Management

    3. Cyber Extortion Management

    A cyber extortion case manager may negotiate ransom details and payment on the company’s behalf.
    Legal Defence Coverage

    4. Legal Defence Coverage

    If government investigations or litigation arise due to a privacy/security breach, the policy covers the organisation’s defence cost.
    Acknowledgment and Co-ordination

    1. Acknowledgment and Co-ordination

    Once the cyber breach is acknowledged, a coordinated response begins, involving breach counsel, and IT forensics specialists.
    Independent Investigation

    2. Independent Investigation

    IT forensics experts conduct an in-depth investigation, analysing the incident’s cause, origin, scope, and suggesting network/system improvements.
    Cyber Extortion Management

    3. Cyber Extortion Management

    A cyber extortion case manager may negotiate ransom details and payment on the company’s behalf.
    Legal Defence Coverage

    4. Legal Defence Coverage

    If government investigations or litigation arise due to a privacy/security breach, the policy covers the organisation’s defence cost.

    Why Onsurity

    Custom Solutions

    Custom Solutions

    We create plans that fit your needs after assessing your risk exposure.

    Personal Touch

    Personal Touch

    We combine digital ease with personalised service.

    Great Risk Management

    Risk Management

    We’re backed by experts who understand cyber risks.

    Custom Solutions

    Custom Solutions

    We create plans that fit your needs after assessing your risk exposure.

    Personal Touch

    Personal Touch

    We combine digital ease with personalised service.

    Risk Management

    Risk Management

    We’re backed by experts who understand cyber risks.

    Know more