Cyber Liability
Protecting Your Business from Digital Risks and Threats
Cyber Liability Insurance protects businesses from financial losses due to cyber-attacks, data breaches, and digital threats. With over 375 attacks occurring daily in India, the risk to businesses is significant. High-profile breaches like BigBasket and Dunzo have exposed millions of users’ data. This insurance covers both first-party losses (e.g., e-theft, reward expenses) and third-party liabilities (e.g., legal claims). It ensures compliance with the Personal Data Protection Bill, which enforces strict data security rules. Penalties for violations can reach up to ₹250 crore. The policy helps businesses manage legal, financial, and reputational risks. It includes support for defense costs and breach response. Coverage is vital for any company handling digital data. Cyber insurance is no longer optional—it’s a necessity.
Key Benefits
- We cover expenses incurred in forensic services to identify the first breach.
- Covers expenses related to data privacy laws and regulations.
- Helps mitigate the costs of data loss, system failures, and cybercrimes.
- Ensures business continuity in the event of a cyber attack or data breach.
- Protects your brand and public image following a cyber incident.
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What is Cyber Liability?
Cyber liability insurance is designed to protect businesses from financial losses caused by cyber-attacks, data breaches, and other digital risks. As businesses increasingly rely on digital systems, the risk of cyber incidents grows, making this type of insurance essential.
Why do you need Cyber Liability?
Financial Security
Minimize the financial impact of cyber-attacks and losses.
Data Breach Protection
Safeguard your business against costly data breaches.
Legal and Regulatory Compliance
Ensure compliance with data privacy laws and avoid penalties.
Reputation Management
Protect your business's reputation after a cyber event.
Why choose Insurance Manager to protect your business?
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
What does Cyber Liability cover and exclude?
Plan Coverage
Forensic Costs
Expenses incurred in forensic services to identify the first breach.
E-theft Loss
Protection from financial loss due to fraudulent online transactions.
E-communication Loss
Covers fraudulent communications that trick clients into transferring funds.
Extended Reporting Period
Allows late reporting of breaches occurring during the policy term.
Defense Cost
Legal fees covered for alleged privacy breach.
First-Party Loss
Covers direct losses viz Ransomware demands, Business interruption and Data recovery costs
Third-Party Liability
Covers legal claims from affected customers, vendors, or partners.
Breach Notification Costs
Covers expenses to notify affected individuals and regulators.
Major Exclusions
Physical Property Damage
Tangible asset damages (e.g., office hardware) are not covered.
Intentional Acts
Any willful or fraudulent acts by the insured are excluded.
Prior Known Issues
Claims related to events knowingly disclosed before policy start are not covered.
Employee Fraud
Internal fraud or misconduct by staff is typically excluded.
Intellectual Property Theft
Loss of third-party IP is not covered unless specified.
Consequential Business Loss
Losses like reputational damage, lost contracts, or future business opportunities are excluded.
Credit Risk or Loan Default
Financial defaults caused by cyber events are not insurable.
Post-Incident Delayed Claims
Losses reported long after being known may be excluded.
Claims Process and Risk Management
When can I Claim?
A claim under Cyber Liability can be registered in the below circumstances:
- Data Breach: When client data is exposed or stolen due to a cyber attack or security vulnerability.
- System Failure: If your business experiences a network failure that leads to financial loss or operational downtime.
- Privacy Violations: When your company is found non-compliant with privacy regulations or laws governing data protection.
Protect your business from cyber attacks, fraud & data breaches with cyber insurance.
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