Cyber Insurance in India: Protect yourself with cyber attack insurance, Bajaj Allianz launches this liability cover

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Published: November 2, 2017 7:13:06 PM

Bajaj Allianz General Insurance has launched ‘Bajaj Allianz Individual Cyber Safe’ policy, a cyber-protection product for individuals.

cyber liability cover for individuals, Bajaj Allianz Individual Cyber Safe policy, cyber-protection product , cyber-attacks, cyber extortion, cyberbullying, e-mail spoofing, phishingThe policy will provide comprehensive protection against various cyber risks such as identity theft, malware attack, IT theft loss, phishing, e-mail spoofing, cyber extortion, and cyber stalking.

Bajaj Allianz General Insurance today launched ‘Bajaj Allianz Individual Cyber Safe’ policy, a cyber-protection product for individuals, which provides coverage to customers who fall victim to threats such as cyber-attacks, cyber extortion and cyberbullying. The policy will provide comprehensive protection against various cyber risks such as identity theft, malware attack, IT theft loss, phishing, e-mail spoofing, cyber extortion, and cyber stalking. It will also cover financial loss resulting from being a victim of e-mail spoofing and phishing, losses and expenses related to defence and prosecution cost related to identity theft, IT theft loss, restoration cost to retrieve or reinstall data or computer program damaged by entry of a malware.

The policy also provides coverage for expenses incurred on counselling services treatment, claim for damages against third party for privacy breach and data breach, cyber extortion loss and transportation for attending court summons. The cover can be purchased at an affordable rate by all individuals above 18 years of age, who use the Internet on a computer system, including digital devices. The sum insured for the cover ranges from Rs 1 lakh to Rs 1 crore. the company said.

Announcing the launch of the cover, Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance, said, “In an increasingly connected digital world, the amount of personal data being generated, transmitted, and stored on to various digital devices is growing at an exponential rate. The critical nature of this data and the complexity of the systems that support its transmission and use, have created a gamut of cyber risks. Therefore, with cyber-attacks and threats becoming more sophisticated and prevalent, we identified the need for a cyber-insurance cover for individuals.”

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