Cyber Insurance For SMEs

Cyber Insurance

Get ₹1 crore insurance cover starting
at just ₹50,000 per year* for your business

*T&Cs apply

No Business is Too Small for Cyber Risks

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.

×

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.

Speak With Us

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.

Schedule a Demo

Personal Financial Information (PFI)

This includes sensitive data like credit card numbers, bank details, tax forms, invoices, and financial statements.

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)

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

Personal Financial Information (PFI)

This includes sensitive data like credit card numbers, bank details, tax forms, invoices, and financial statements.

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)

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

Get a Callback

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

On an average breach cost of a staggering Rs 17.6 crore ($2.2 million)* in the financial year 2022. A cyber policy helps mitigate these escalating costs.

*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

On an average breach cost of a staggering Rs 17.6 crore ($2.2 million)* in the financial year 2022. A cyber policy helps mitigate these escalating costs.

*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 unauthorized 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 unauthorized trading
Infringement on patents and trade secrets

Claims Roadmap

1. Acknowledgment and Co-ordination

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

2. Independent Investigation

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

3. Cyber Extortion Management

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

4. Legal Defence Coverage

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

1. Acknowledgment and Co-ordination

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

2. Independent Investigation

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

3. Cyber Extortion Management

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

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

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

Personal Touch

We combine digital ease with personalised service.

Risk Management

We’re backed by experts who understand cyber risks.