Cybersecurity insurance is designed to mitigate losses from a variety of cyber incidents, including data breaches, business interruption, and network damage. A robust cybersecurity insurance market could help reduce the number of successful cyber attacks by promoting the adoption of preventative measures in return for more coverage and encouraging the implementation of best practices by basing premiums on an insured’s level of self-protection.
Terminologies Covered under Cyber Insurance Policy
Identity theft is any fraudulent and unauthorized access to usage, deletion or alteration of your personal data stored in your computer system including your digital devices. It’s just as real a possibility as it is a scary one.
Cyber stalking is a frightening fate we wish no one ever had to meet. It’s the repeated use of digital communication to harass or frighten a person. It makes one feel attacked and unsafe all the time, no matter where they are.
the number of text messages you receive daily or the number of downloads you make form the internet. Hence, it’s just as easy for someone with malicious intent to infiltrate and damage your digital devices without your knowledge
IT Theft Loss
Convenience of banking transactions online and cyber theft sometimes may. The financial loss due to funds wrongfully paid by you as a direct result of a third party’s unauthorized targeted
It’s any attempt to obtain your sensitive information such as usernames, passwords, and credit card details (and sometimes, indirectly, money), often for malicious reasons, by masquerading as a trustworthy entity through an electronic communication.
Email spoofing is a forgery or a wrongful manipulation of an E-mail header so that the message appears to have originated from the actual source.
Cyber extortion is any threat to cause a privacy breach, data breach or cyber-attack. It’s scarier than an actual person holding a knife because online, people can hide behind the shield of anonymity and you can often feel defenseless.
Privacy & Data Breach by Third Party
Today, the internet and your computer system are like the new-age version of ‘dear diary’. They contain a lot of your personal data – photos, videos, text and more – that you probably don’t want anyone to ever see.
Any Individual person above 18 years of age.
We get that everyone now uses the internet on a daily, if not an hourly basis, and we want to make the protection of our Individual Cyber Safe Policy easily accessible. Hence, our requirement is as basic as someone being of legal age.
This is an Annual policy.
The renewal of the policy, however, is super quick and easy and you can keep enjoying the protection of the Personal Cyber Insurance Policy for as long as you use the internet by renewing it online within a few clicks.
We understand that every individual has different needs and depending upon your internet usage habits, among other things, you may require a different coverage amount.
Hence, we have plans under our Cyber Insurance Policy that start from Rs 1 lakh and go up to Rs 1 Crore. The Personal Cyber Insurance Cost will also vary accordingly and includes several affordable plans.
There is NO excess in the Cyber Insurance Policy.
An excess is the amount of money you’re required to pay towards a claim before the insurance provider settles the claim. The amount is decided at the time of buying the insurance policy. Our Cyber Insurance Policy, however, levies no excess.
We’re sorry to hear that. In case that happens, you can make go ahead and make a claim under the policy. However, you can claim only under one of the insuring clauses per event.