+91 90333 30444
info@finoxo.in

Cyber Insurance

Why Cyber Insurance is Important?

In today's digitally dependent world, our social interactions, professional exchanges, and financial transactions increasingly occur online. While digital platforms offer convenience and efficiency, they also expose us to cyber threats, as sensitive personal and professional information resides in the digital space. Cyber insurance plays a crucial role by providing protection against risks like identity theft, unauthorized transactions, and other cybercrimes, ensuring peace of mind in an interconnected world.

What’s Included and What’s Not?

  • Identity Theft

    Covers losses incurred due to identity theft, including re-filing rejected loan applications, notarization expenses, and costs related to reissuing identity documents.

  • Cyber Extortion

    Includes costs for data restoration, forensics, and payments made to manage or resolve threats.

  • Malware Intrusion

    Covers data restoration costs and loss of wages due to data corruption or loss.

  • Legal Expenses

    Reimburses fees for legal consultations or actions related to false charges or defending your case.

  • Reputational Injury

    Covers costs for removing harmful online content and consultation fees for psychologists, if needed.

  • Cyberbullying

    Includes coverage for harassment, character defamation, and related counseling or relocation expenses.

  • Unauthorised Transactions

    Covers direct financial losses caused by unauthorized transactions. To qualify for coverage, the incident must be reported to both the insurer and the police within 72 hours of occurrence.

  • Consequential Losses

    Covers penalties imposed by a bank or financial institution for failing to maintain the minimum required balance in your account or missing an EMI payment on a loan.

  • Data Restoration Costs

    Provides coverage for costs and expenses incurred within 30 days for data restoration required due to cyber extortion, threats, or malware affecting your computer system.

  • Forensic Expenses

    Covers costs incurred for up to 30 days to hire a digital forensic expert for resolving incidents like cyber extortion and cyberbullying.

  • Negligence

    Failure to take adequate measures to safeguard account details or sensitive information.

  • Physical Damage

    Excludes coverage for physical injuries, disabilities, or diseases.

  • Uninsurable Activities

    Any claims arising from unlawful or uninsurable acts under the law.

  • Cryptocurrency

    Does not cover theft, loss, or inaccessibility of cryptocurrency assets.

  • Pre-existing Legal Proceedings

    Excludes claims related to legal proceedings initiated before the policy’s start date.

  • Government Orders

    Loss or damage caused by government actions or orders is not covered.

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Frequently Asked Questions

Any individual person above 18 years of age: Every such individual is prone to online threats. Hence, buying a cyber insurance policy can safeguard against online frauds. The policy can be bought by anyone who is 18 years and above and can be bought for family members.

Cyber insurance provides cover against loss due to cyber frauds. The increase in penetration of internet among Indian population has brought increase in amount of personal data being generated, transmitted and stored on various devices. With Cyber Insurance, one can protect self and family members against financial risks due to Identity theft, Unauthorized Online Transactions, Cyber bullying, Cyber extortion.

12 Months.

The product provides protection for various potential exposures that the Insured and his/her family is exposed to like identity theft, unauthorised transactions, cyber bullying, cyber extortion and malware intrusion. The policy indemnifies the insured for legal expenses, data restoration cost, forensic cost arising in relation to an event.

We will cover you for unauthorized transactions which also includes email spoofing and phishing.

At Finoxo Solutions, we specialize in providing tailored insurance solutions that cater to both commercial and individual needs. With a commitment to excellence and innovation, we ensure our clients receive comprehensive coverage and unmatched service for their peace of mind.

Address

B-407, Decora 9 Square, Nr. Nana Mava Chowk,RAJKOT

+91 90333 30444

info@finoxo.in

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