Risks of cyber liability emanating from a network security breach, today ranks among the top two business risks in the world. According to surveys, cyber threats form the key issue in about 80% of organisations. Computer frauds, varied viruses, damage to hardware, malware attacks, phishing, email spoofing, media liability, cyber extortion, data breach by the third party, identity theft, nuclear threats, and many others pose a direct threat to any business organisation, which can further lead to disruption in business operations. The multidimensional facets of a single successful cyber-attack have the capability of hugely affecting the balance sheet of the company. A cyber-attack not only can bring in liabilities and associated legal costs but also have several direct impacts on a corporate …thus a cyber-attack has both “first party” as well as “third party exposures “
A comprehensive insurance product is an ideal solution to this ever-increasing risk. The Indian market provides a solution through a well-defined insurance product, easily comparable to the International market. The cyber liability policy has a unique feature of including first-party as well as third party covers.
Scope of our services
Technology has changed the way businesses operate in this globalised and connected world. With a variety of benefits, internet-based techniques have inherent risks of virtual exposure. The level of pure financial loss and legal expenses can lead to devastating effects on business activities and even on mental health/wellbeing.
The main objective of Cyber Insurance policy is to:
The Cyber Insurance policy provides both counselling services and consultant services to the affected being or business. This policy provides coverage for the fees, costs, expenses, of treatment for stress, anxiety, or any other mental condition subject to any of the cybercrime. For an organisation or individual applying for Personal Cyber Insurance Policy, the coverage extends to IT consultancy service cost. IT consultancy is really important, but this service can be quite costly.
Our Financial liability team is composed of some of the best experts in the industry in this field and help our customers to understand, measure and manage cyber risks effectively. Zoom Insurance Brokers offer solutions to prospective clients in the following ways: