Cyber Risk

What is Cyber Risk Insurance?

Cyber Risk Insurance is a policy that a company obtains to cover costs incurred as a result of a cyber-security breach. Data leaks, Online Vandalism, and online Extortion are all common cyber security risks. This coverage covers any legal and extortion costs incurred as a result of any of the circumstances listed. Since a lot of companies have access to their customers’ or employees’ personal information, cyber insurance for such business essential.

Who should purchase this policy?

This policy is suitable for any business that deals through electronic devices. It could be a Marketing agency, BPO, Financial Institutions, etc.

Benefits/Coverages of the Policy

  • Extortion Payments
  • Claim to arise due to system failure that harms third-party
  • Legal expenses
  • Online fund transfer fraud
  • Extra expenses incurred due to interruption in business
  • Privacy Invasion, libel, slander, etc.

Exclusions of the Policy

  • Willful fraud or ignorance towards any law
  • Mechanical failure or breakdown
  • Bodily injury or death of any person
  • Bodily damage to any tangible item
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