Policy snapshot
Protects organisations from financial losses arising from cyber-attacks, data breaches, and regulatory fines.
What is Cyber Liability Insurance?
Cyber Insurance shields businesses from the growing risks of data breaches, ransomware, and online fraud. It's critical for any company holding sensitive customer data.
What can it cover?
- The policy covers legal liability, customer notification costs, forensic investigation, cyber extortion, data restoration, business interruption due to cyber incidents, and reputational damage. Optional add-ons include social engineering fraud and regulatory fines.
Who should consider it?
- E-commerce, BFSI, IT/ITES, healthcare, education, Any business storing or processing customer data
Key features to understand
- {"heading": "Key Features", "bullets": ["Covers first-party losses (extortion, data restoration)", "Covers third-party liability for data breach, privacy violations", "Crisis response, PR, and forensic investigation included", "Regulatory penalty coverage (where allowed by law)"]}
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.