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Udupi - 576 101, Karnataka, India
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+91-820-2953325
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Cyber Liability

Cyber Liability

In today's interconnected world, Cyber Risk Insurance has become essential. India, with the second-largest internet user base globally, has seen a surge in cyberattacks as internet usage increases. Nearly 60% of Indian companies are now actively working to mitigate cyber risk losses.

Companies handling sensitive customer information are responsible for its confidentiality. If a system breach occurs and confidential customer or employee data is exposed, the consequences can be severe. Affected individuals may file legal suits against the company, seeking monetary compensation.

Risks Covered in Cyber Risk Insurance

  • Legal Liability: Covers liabilities arising from privacy breaches or computer security breaches.
  • Data/Information Loss: Protection against loss of data.
  • Revenue Loss: Compensation for loss of revenue due to a cyber attack.
  • Public Relations Expenses: Costs associated with managing public relations after an attack.
  • Regulatory Actions: Expenses related to regulatory scrutiny or actions.
  • Incident Response Expenses: Costs incurred in responding to a cyber attack.
  • Cyber Extortion Expenses: Coverage for expenses related to cyber extortion incidents.

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