Presenting,

Cyber Risk Protector

Cyber Risk Protector

Tata AIG’s Cyber Risk Protector is more than just cyber insurance. It is a comprehensive
solution protecting companies against losses arising from cyber risks.

How Can Liaibility Arise?

(SEC) UIN: IRDAN108P0020V01201213 | (Non-SEC) UIN: IRDAN108P0021V01201213

• A hacker breaches into the company’s computer system to steal data, due to which
company has to appoint forensic experts.

• A denial-of-service (DOS) attack is carried out against a company, thereby causing

business interruption.

• A ransomware attack encrypts a company’s computers, causing widespread business

disruption and making the company pay the ransom amount in cryptocurrency.

• Third Party data is breached from the Company’s systems, due to which the Third
Party files a suit against the company.

• An employee of the company discloses Third Party data, due to which the Third Party
takes legal action against the company.
 What Are The Coverage Available Under The Policy?

TATA AIG will pay to or on behalf of any Insured all Damages and Defence Costs
which arise out of a Claim:

1. Loss of Personal Information: by a Data Subject against the Insured in respect of an

actual or alleged Qualifying Breach of Personal Information.

2. Loss of Corporate Information: by a Third Party against the Insured in respect of an

actual or alleged Qualifying Breach of Corporate Information.

3. Outsourcing: By a Third Party against an Outsourcer which arises from any actual or
alleged breach of duty by the Outsourcer in regards to the processing of Personal
Information and/or Corporate Information on behalf of the Insured and for which the
Insured is liable.

4. Network Security: Damages and defense costs arising out of a claim by a third party
caused by any act, error or omission.

What Does The Policy Pay For? What Is Not Covered ?

(SEC) UIN: IRDAN108P0020V01201213 | (Non-SEC) UIN: IRDAN108P0021V01201213

• First and Third Party Costs • Bodily Injury / Property Damage
• Damages and Defence Costs • Criminal Acts
• Pro-active Forensic Costs • Patents & Trade Secrets (except loss of
• Data Administrative Fines and Penalties Corporate Information Cover)

• Cost incurred for repair of Company’s • Securities Claims

and Individual’s reputation • War / Terrorism
• Monitoring Costs • Trading Losses & Unauthorized Trading
• Unlawfully Collected Data

Is The Policy Required By Law?

No, Cyber Insurance is not mandatory in India, however there are certain guidelines by
regulators for specific industries which recommend that organizations take the protection
of Cyber Insurance. Globally data protection regulations like GDPR, California Consumer
Privacy Act and India’s upcoming Personal Data Protection Bill, all impose hefty fines and
penalties on organizations which breach the provisions – which is why the need for Cyber
Insurance is even more today.

When To Buy Cyber Cover Who Should Buy Cyber Cover?

It is important buy Cyber cover when: SMEs, Start-ups, Private Limited

• Business involves dealing with Third
Party Data.
• Company has an online presence,
especially if online revenue is high for
the company.
• Company operates in foreign
jurisdictions.
• All companies which store confidential
data.
• Companies which are interested in
protecting their own data.
• Start-ups & SMEs which do not have
enough provisions to face the onslaught
Companies, Large Listed Companies,
Multinational Companies and
Conglomerates – Basically any business
owner/risk manager who is concerned
about the adverse financial implication that
a devastating cyber attack can have on the
company’s balance sheet.
Value Added Services
• Security Scorecard Report.
• BitSight Report.
• Cyber Maturity Assessment call.

(SEC) UIN: IRDAN108P0020V01201213 | (Non-SEC) UIN: IRDAN108P0021V01201213

of a cyber attack themselves.

Why Tata AIG ?

AIG is a pioneer worldwide in Liability Insurance and is the most preferred underwriter
among the Fortune 500 companies in the US and Tata Group is India's most respected and
best-known industrial group. These inherent strengths of AIG & Tata are now available to
the Indian companies through the Tata-AIG partnership.

Tata AIG has expertise in this insurance segment, being the leaders in Liability Insurance
and having introduced most of the Financial Lines products to the Indian market. The Tata
AIG team of Underwriters comprises of highly skilled professionals from various
background, such as Chartered Accountants, MBAs, Lawyers etc, giving us an edge over
the competition.
On the claims front, Tata AIG has superior claims handling ability at domestic level with the
support and network of over 130 jurisdictions.

Disclaimer: This content is for training and development purposes only. No business can be solicited basis this content.

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(SEC) UIN: IRDAN108P0020V01201213 | (Non-SEC) UIN: IRDAN108P0021V01201213
This content is for training and development purposes only. No business can be solicited basis this content.