Cyber Attacks Are Inevitable
. Be Prepared. Be Insured
Cyber insurance safeguards your business from financial losses due to data breaches, cyber attacks, and other online threats.Don't wait until it's too late.
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Why Cyber Insurance is Vital for Business
Cyber insurance covers the costs of data breaches, ransomware attacks, and other cyber threats. It helps you protect your business from financial losses and continue operations seamlessly.
What Types Of Businesses Need Cyber Insurance Coverage?
E-commerce Companies
With sensitive customer data and online financial transactions, you're a prime target for cyber criminals. Data Breach Insurance is your lifeline when hackers come knocking.
Tech Startups
Your innovative ideas and proprietary code are goldmines for cybercriminals. Safeguard your intellectual property and prevent catastrophic setbacks with Cyber Insurance.
Financial Institutions
From customer records to confidential financial data, you have everything hackers crave. Ransomware Insurance is non-negotiable in the era of cyber extortion.
Healthcare Industry
Cyber Insurance coverage is essential for healthcare industry to protect sensitive patient data and mitigate the financial fallout from cyber attacks and data breaches.
Small Businesses
Some small businesses think they're too small to be targeted by cybercriminals. But over 40% of attacks strike small businesses. Cyber Insurance is affordable and provides resources to respond to and recover from incidents.
How will Cyber Insurance help the business?
In a cyber threat event like the data breach of 2022, the All India Institute of Medical Sciences (AIIMS) in Delhi suffered a devastating ransomware attack. Patient records of over 3-4 crore people were compromised, appointments canceled, and vital systems crippled. The estimated demand from the hackers? A whopping ₹200 crore (over $25 million)
Don't Let a Cyberattack Sink Your Business.
Explore cyber insurance solutions to secure your business against data breaches, business interruptions and ransomware attacks.
Inclusions
Data Breach Costs
Expenses to manage and recover from data breaches.
Ransomware Payments
Covers ransom demands made by cybercriminals.
Cyber Extortion
Costs associated with threats or extortion attempts besides ransomware.
Business Interruption
Compensation for lost income and extra expenses due to a cyber incident.
Data Restoration
Expenses to restore or recreate lost or damaged data.
Forensic Investigation
Costs for investigating the cause and extent of a cyberattack.
Access to Cyber Security Experts
Provides immediate access to cybersecurity professionals in case of a cyber incident.
Cyber Crime
Covers losses from online fraud, theft, and other cybercrimes.
System Damage
Cost to repair or replace hardware or software damaged by a cyberattack.
Cyber Liability
Legal costs and damages from lawsuits due to a cyber incident.
Media Liability
Covers claims of defamation or copyright infringement online.
Regulatory Fines & Penalties
Covers fines imposed by regulatory bodies due to a data breach.
Network Security & Privacy Liability
Covers legal costs arising from unauthorized access or use of sensitive data.
Exclusions
Intentional or Criminal Acts
Losses caused deliberately by the insured or their employees.
Prior Known Claims
Incidents reported before the policy's effective date.
War & Terrorism
Damage or losses caused by war, declared or undeclared, or terrorism.
Infrastructure Failure
Losses due to general infrastructure outages (like power or internet).
Unpatched Systems
Losses due to failure to apply security updates.
Reputation Damage (without financial loss)
Harm to reputation without direct financial consequences.
Future Profits
Loss of potential future income or profits.
Contractual Liability (unless specified)
Liability arising from breaches of contract unless specifically covered.
Data breach, extortion, and ransomware protection
Business interruption loss reimbursement
Proactive cybersecurity resources and training
24/7 incident response
Coverage tailored to your industry and risks
Why Buy Cyber Insurance Policies From Us?
At Covrzy, we understand the intricacies of cyber risk. We're not just an insurance provider – we're your strategic partner in digital resilience. When a cyber incident strikes, we're your first line of defense.
Data breach, extortion, and ransomware protection
Business interruption loss reimbursement
Proactive cybersecurity resources and training
24/7 incident response
Coverage tailored to your industry and risks
Real Life Claim Story
It was a typical day at WazirX, with traders and investors eagerly watching the volatile crypto markets. Suddenly, an unexpected breach occurred. Hackers, exploiting a vulnerability in the system, executed what would become India's biggest crypto theft, siphoning off digital assets worth a staggering ₹2,000 crore.
Financial Recovery
The cyber insurance would have provided immediate financial relief, covering the losses from the theft and helping to stabilize the company's finances.
Crisis Management
With a dedicated incident response team funded by the insurance, WazirX could have managed the crisis more effectively, minimizing reputational damage and restoring user trust more swiftly.
Frequently Asked Questions
What is cyber insurance?
Cyber insurance is a type of insurance policy that protects businesses from financial losses caused by cyber attacks and data breaches.
What is the difference between first-party and third-party coverage in cyber insurance?
How much does cyber insurance cost?
Do you have more questions?
Contact us for any queries related to business insurance, coverages, plans and policies. Our insurance experts will assist you.
Join The Ranks Of Protected Businesses With Covrzy’s Cyber Insurance
Don’t gamble with your business. Get a free cyber risk assessment now!
