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What is Cyber Security Insurance?

cyber security insurance coverage for data breaches and cyber risks

Cyber Security Insurance refers to a business insurance that is aimed at protecting organizations against financial losses. A cyber event may include:

- Unauthorized access to business systems.

- Malware attacks or ransomware attacks.

- Data security breaches or data leakage.

- Network security failures

- Denial-of-Service (DoS) attacks.

- Business Interruption due to system downtime.

     

Key Highlights of IFFCO-Tokio Cyber Protection Insurance

cyber insurance post-attack revamp support for system improvement and expert advisory costs

Post-Attack Revamp Support

Covers expert advisory and system improvement costs after a cyber-attack.

cyber insurance coverage for business losses due to third-party or outsourced system disruption

Contingent Business Interruption Cover

Protects against losses due to disruptions in outsourced or third-party systems.

cyber incident response with expert coordination support for faster recovery and efficient handling

PWC Incident Coordination

Expert-led incident response support for faster recovery and efficient handling.

Who Should Consider Cyber Security Insurance?

cyber insurance for technology companies, SMEs, healthcare organizations and digital businesses

Those businesses that operate based on digital systems or store customer information can be subject to cyber risks. This type of insurance is commonly considered:

- Technology companies and SMES.

- NBFCs and financial institutions.

- Healthcare organizations

- E‑commerce businesses

- EdTech and SaaS companies

     

Coverage Under Cyber Security Insurance

Cyber Security Insurance typically offers cover in two broad sections - First Party and Third-Party Liability Covers.

Why IFFCO Tokio Cyber Security Insurance?

reliable cyber insurance provider with strong claim support

Trusted Insurance Provider

Provided by IFFCO Tokio general insurance, a company that has been dealing with reputable business insurance services.

24x7 cyber incident response and expert assistance

Cyber Incident Assistance

Expert assistance in order to handle cyber incidents and recovery procedures.

simple and transparent cyber insurance policy terms

Transparent Policy Terms

Clear documentation with defined coverage, limits, and conditions.

quick cyber insurance claim process and settlement support

Efficient Claim Support

A defined claim process that is aimed at supporting businesses in times of cyber-incidents.

cyber insurance tailored for online and digital businesses

Designed for Digital Businesses

Built to meet emerging cyber threats to modern organizations.

Inclusions: What Our Cyber Security Insurance Policy Covers

Cyber incident response support team handling security breach

Incident Response Support

Professional support in the case of a cyber-attack.

Data and system recovery after cyber-attack or data loss

Data & System Recovery

Recovery of damaged systems and lost data.

Business interruption due to cyber-attack impacting operations

Business Interruption

Loss of revenue as a result of system downtime.

Customer notification costs after data breach incident

Notification Costs

Costs to inform customers about a data breach.

Legal and forensic investigation costs for cyber incident

Legal & Investigation Costs

Legal defense and regulatory investigation costs.

Third party liability claims arising from cyber breach

Third-Party Liability

Customer or partner claims as a result of cyber incidents.

Additional Coverage: Boost Your Cyber Security Insurance

Contingent business interruption caused by third party cyber incident

Contingent Business Interruption

Loss to cyber incidents on third-party service providers.

Network operation fraud and cyber financial loss protection

Network Operation Fraud

Financial losses due to network systems fraud.

PCI non-compliance penalties and regulatory costs

PCI Non-Compliance Costs

Costs associated with compliance costs in payment cards industry.

Cyber risk mitigation expenses to prevent further damage

Mitigation Expenses

It refers to the costs incurred to minimize the impact of a cyber incident.

Exclusions: What is Not Included in the Cyber Security Insurance

  • cancel

    Intentional Misconduct - Any losses due to deliberate or fraudulent activity.

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     Pre-Policy Incidents - Cyber events prior to the policy start date.

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    Non-Cyber Operational Losses - Losses not directly due to a cyber incident.

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    Certain Regulatory Penalties - Fines that are not legally insurable.

Cyber Security Insurance Claims Process

📢Step 1 – Report the Incident
(Report the attack on the cyber incidence to the insurer as soon as it is identified.)

📄 Step 2 – Share Details & Documents
(Provide details of incidents including necessary supporting documentation.)

✅ Step 3 – Claim Review & Settlement
(The insurer assesses the claim and processes settlement as per policy terms.)

Claim Hassle Free

Claim Hassle Free

Claim Hassle Free

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Intimate

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Survey & Verify

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Settle

Download Cyber Security Insurance Official Documents

The official documents contain detailed information about the policy:

In the event of a contradiction, the official policy wording document shall be dominant.

Important FAQs on Cyber Security Insurance

What does a cyber event mean in Cyber Security Insurance?

A cyber incident is defined as an unauthorized access to system, ransomware attacks, data breach, network security failure, etc. which are subject to the policy.

Is Business interruption included on Cyber Security Insurance?

Yes. This can cover business interruption losses that arise as a result of a covered cyber event described in the policy.

Are regulatory fines covered?

Some regulatory fines could be covered provided that they are legally insurable and incorporated in the policy cover.

Are ransomware attacks covered?

Yes. The policy may cover ransomware attacks as long as they are classified as a covered cyber event by the policy.

When is a cyber incident to be reported?

The insurer should be notified of cyber incidents as soon as they are discovered and within the policy period.

Does Cyber Insurance replace cybersecurity?

No. Cyber insurance is not a substitute to cybersecurity controls but rather a supplement to the existing security controls.

Self Service Options

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Claim

A convient way to register your claim & track claim status.
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Service Request

Make changes to your policy & update your contact details.
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Renewal

Renew your policy online

Did not find what you were looking for?

Email

Write us at support@iffcotokio.co.in

Phone

Call us on 1800-103-5499

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