Cyber Insurance in India

Individual Cyber Safe Insurance

Let’s play a quick word association game, shall we? When we say the word ‘internet’, what comes to your mind?

Social media, Friends, Entertainment Ah, the gift of the internet. A time before the internet is quite unimaginable to us now. If we push our imagination a little, we may conclude that it was boring and sort of like a dark age. However, it was safer by a massive measure

However, in today’s world, it is almost impossible to function without exposing yourself to the online world, at least to a certain degree. And this makes one very vulnerable to the flip side

Identify fraud, Phishing, Cyber stalking

You’re potentially exposed to these threats almost every day. What do you do then? Stop using the internet? Of course not! You find a way to protect yourself from potential cyber threats and risks and Bajaj Allianz Cyber Insurance helps you do just that

Realizing the growing need for Cyber Insurance in India, we designed our policy to support the Personal Cyber Insurance Market and became the first Indian Insurer to offer Cyber Insurance.

The internet is, perhaps, the best and worst creation mankind has invented. With its benefits of connectivity, communication and convenience, it brings with it a set of new-age risks. These can range from misuse of your financial information and data theft to cyber stalking and identity theft.

We at Bajaj Allianz, understand such new-age risk factors and their impact. Our Individual Cyber Safe Insurance Policy ensures that you get optimum protection against potential cyber threats and risks.

What is Covered by our Cyber Insurance

The most dangerous thing about cyber threats is that they are usually not detectible until after they have already happened. Unlike a stalker in real life, a cyber stalker cannot be seen and unlike a suspicious person lingering near an ATM, phishers are hard to perceive. Considering all the possible cyber threats and risks you’re exposed to every time you’re online, we’ve designed our Cyber Insurance Policy to help protect you.

Identity Theft

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.

Coverage Offered

- Defence costs as a result of any claim by affected party

- Prosecution costs against a third party for identity theft

- Costs of transportation to court and photocopying of documents

Social Media

Social media cyber-attacks are more common than we’d like.  But with our Personal Cyber Insurance Policy we’ll take care of the defence and prosecution costs against identity theft occurring on your legitimate Social Media account as a result of a cyber-attack.

Coverage Offered

- Defence costs as a result of any claim by affected party

- Prosecution costs against a third party for identity theft from Social Media

- Costs of transportation to court and photocopying of documents

Cyber Stalking

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.

Coverage Offered

- Costs incurred by you for prosecution of a criminal case against a third party for cyber stalking

Malware Attack

Take a minute to think of the number of text messages you receive daily or the number of downloads you make form the internet. The number is considerable, isn’t it?

Hence, it’s just as easy for someone with malicious intent to infiltrate and damage your digital devices without your knowledge or consent with the help of a computer program spread through SMS, internet downloads, file transfer and more.

Coverage Offered

- Restoration costs of your computer system due to damage caused by malware

- Defence costs as a result of any claim by affected party for legal liability caused due to the malware in your computer system

- Costs of transportation to court and photocopying of documents

IT Theft Loss

Convenience of banking transactions online and cyber theft are two sides of the same coin. You can continue enjoying the good side because our Cyber Safe Policy will cover you against the bad one.

The financial loss due to funds wrongfully or erroneously paid by you as a direct result of a third party's unauthorized targeted cyber intrusion into your computer system will be covered by us.

Coverage Offered

- Financial Loss due to IT Theft

- Costs including legal fees for a claim lodged by you against a financial institution or payment system operators

- Prosecution Cost against a third party for causing IT Theft Loss

Phishing

Phishing is a new avenue for fraudsters and swindlers to cheat unsuspecting people. 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.

Our Individual Cyber Insurance Policy will help you by not only covering any financial loss but also by helping you fight back.

Coverage Offered

- Pure financial loss sustained by you by being an innocent victim of an act of phishing by a third party

- Prosecution costs against a third party for phishing attack

Email Spoofing

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.

Coverage Offered

- Pure financial loss sustained by you by being an innocent victim of an act of email spoofing by a third party

- Prosecution costs against a third party for email spoofing

Media Liability Claims

Our Personal Cyber Insurance will help you in event of any liability arising out of unintended publication or broadcasting of any digital content resulting out of a cyber attack on your computer system including your digital devices.

Coverage Offered

- Defence costs for arising out of a claim made by a third party against you for media wrongful act

- Prosecution costs against a third party for media wrongful act

- Costs of transportation to court and photocopying of documents

Cyber Extortion

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 defenceless.

We aim to help you feel empowered to fight back with our Cyber Liability Insurance.

Coverage Offered

- Cyber extortion loss that you incur due to a result of cyber extortion threat

- Prosecution costs against a third party for cyber extortion