GIC – General Insurance Products

Cyber Insurance

Protection for businesses and individuals against losses from cyber incidents, subject to the selected policy.

How we help

Cyber insurance helps with the costs that follow an incident such as a data breach, ransomware attack or fraudulent transfer. Depending on the policy, this can include investigation and recovery costs, notifying affected people, legal expenses and loss of income while systems are down.

Policies usually have two parts. One covers your own losses and the other covers claims made against you by customers or others. We explain which parts a policy includes and the limit for each.

Insurers often ask about your security measures, such as backups and multi-factor authentication. We help you answer accurately and explain what the policy expects of you.

What it covers

Cover for data breach and cyber-attack costs
Response and recovery expenses where included
Cover depends on the selected policy

Coverage, exclusions, and claim conditions depend on the policy and insurer.

Before you decide

Points to check

01Whether cover includes your own losses, claims by others, or both
02Coverage for ransomware, data breach and fraudulent funds transfer
03Limits and deductibles for each type of loss
04The security measures the insurer requires
05Whether incident response support is included

Common questions

What people ask us about Cyber Insurance

Is cyber insurance only for large companies?

No. Small businesses and individuals also face fraud and data loss. Policies are available at different sizes, and we help match the cover to your exposure.

Does it pay a ransom?

That depends on the policy and on what the law permits. We check how the policy treats extortion before you buy.

What should I do after an incident?

Contact the insurer as soon as possible, because many policies need prompt notice, and preserve evidence such as logs and messages. We help you through the process.

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Shree Sai Insurance is the practice of Amit Dhirajlal Waghela, an AMFI-registered mutual fund distributor (ARN-166386), not a SEBI-registered investment adviser. The firm earns commission from asset management companies on the schemes it distributes, does not charge a fee for distribution, and does not guarantee returns. Insurance is offered separately from the mutual fund distribution business. Mutual fund investments are subject to market risks. Read all scheme related documents carefully.