Data breaches cost companies crores. Cyber insurance covers hacking, ransomware, data loss, and liability from cyberattacks. Essential for businesses in the digital age.
Cyber Insurance
Data breaches cost companies ₹crores. Cyber insurance covers hacking, ransomware, data loss, and liability from cyberattacks.
What it covers: data breach costs (₹10L–₹10cr), ransomware payments (₹5L–₹5cr), business interruption (₹5L–₹50L), cyber liability (₹1cr–₹50cr). Premium: ₹50k–₹10L/year, depending on business size, data sensitivity and security measures.
Who Needs It?
Any business holding digital data—customer records, financial data, intellectual property. One breach can cost ₹1cr+ in fines, lawsuits and lost business. Small businesses are targeted more, not less.
Whether YOUR cover pays the ransom, the forensics, or the lawsuit—and up to what limit—is in the policy wording. Generic advice ends here; check what YOUR policy actually says.
Frequently asked questions
Do small businesses need cyber insurance?
Yes, if you handle customer data (names, emails, payments). Small businesses are targeted more (weak security). Premium: ₹50k–₹2L/year for ₹1cr–₹5cr coverage—worth it.
What does cyber insurance cover?
Data breach costs (notification, credit monitoring), ransomware payments, business interruption (lost revenue), cyber liability (lawsuits), forensic investigation, public relations.
Is cyber insurance expensive?
Premium: 0.1–0.5% of coverage. ₹5cr coverage = ₹50k–₹2.5L/year. Depends on business size, data sensitivity, security measures. Better security = lower premium.