Cyber Liability Insurance

Cyber Liability Insurance Service By WinRich Professional Services Pvt Ltd

Companies with access to private & confidential information about their customers have a responsibility to keep it secure. Equally, companies who have a web presence or a dependency on technology have emerging content and transactional exposures. Cyber risk is steadily increasing. Security/Data breaches affect millions of records a year and reports of breaches continue to rise at a dramatic rate. The introduction of viruses and unauthorized access are well known examples.

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What Is A Cyber Liability Insurance

Companies are increasingly at risk from exposures that originate from their use of technology. Cyber Liability includes any illegal activities using, or against, computer systems, computer networks, and the internet. Most forms of cyber insurance either exclude or inadequately cover losses that arise from the use of the Internet, e-mail or networked systems. As a result, companies that are reliant on these technologies frequently find that they have inadequate protection, but only discover the deficiency when they need to make a claim. Computer Crime Insurance or Cyber Crime Insurance covers losses that directly result from the use of a computer, and often focus solely on the transfer of property from within the company to parties outside of the company, or vice versa. Cyber Risk Insurance policy provides protection from crimes committed through the use of a computer by a company’s employees. Cyber Liability insurance coverage is designed to protect IT businesses against liability and theft or loss of data, as well as liability and expenses arising from data privacy,   you are hosting client information.

What does Cyber Liability Insurance cover?

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What are different types of Cyber Liability Insurance coverage?


Identity Theft: Use, deletion or alteration of personal data stored on the computer: It covers prosecution costs which arise when a case is filed against a third party. Cost of transportation to the court and photocopying of documents.

Social Media Liability: Identify theft occurring on social media account. It covers prosecution costs which arise while filing a legal case against a third party. Costs of transportation to the court and photocopying of documents.

Cyber Stalking: Using digital media to harass or frighten an online user. Costs which arise when a legal case is raised against a third party.

Malware Attacks: This is a computer program which is received through texts, file transfer, downloaded programs or malicious activities on digital devices. It covers restoration cost of damage to the digital device caused by malware. Costs of transportation to the court and photocopying of documents.

IT Theft Loss: Cyber intrusion in the computer which led to unauthorised payment to third parties. Financial loss due to IT theft. Legal expenses which arise from a claim lodged by a third party. Prosecution cost against a third party for causing IT theft.

Phishing: Unauthorised access to usernames, passwords and credit card details. Financial loss due to loss of sensitive information. Prosecution costs which arise against a third party for phishing attack.

Email Spoofing: Forgery or manipulation of email headers so that the recipients understand that the email is from the actual source. Financial expenses arising out of email spoofing. Prosecution costs which are against a third party.

Media Liability Claims: Unintended publication or broadcast of any digital content as a result of cyber-attack. Prosecution costs to claim compensation from a third party. Costs of transportation to court and photocopying of documents.

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Protection from financial losses due to failure of clearance of accounts receivable

Importance of Cyber Liability Insurance

Cyber Liability insurance means safeguarding yourself, financially, against cyber-attacks such as identity theft, phishing, email spoofing, IT theft loss etc. With the rise in digital empowerment, people run the risk of getting exposed to cyber threats and in many cases they also lose large sums of money. Having a Cyber Liability insurance is, therefore, of critical importance.

Be safe and alert when you are using the internet and ensure to protect yourself with a cyber insurance policy as it has numerous benefits and can give you financial assistance and peace of mind in case of an unfortunate incident of cyber-attack.


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Crisis Management coverage

Risk Factors

Cyber attack on your computers can be harmful and you would become liable for the losses & expenses incurred.


Depending on the policy, coverage may include the cost of hiring an attorney, forensic accountant, computer expert, or public relations expert to assess the scope of the damage, determine whose data was compromised, help mitigate the loss, and protect the company’s reputation.

Prior acts coverage

Risk Factors

There can be instances where a data breach occurs before your policy’s effective date and You fail to get coverage for the same.


Prior acts coverage can be taken to help cover claims related to a breach that happened before your policy’s effective date.

Error & Omission liability Coverage

Risk Factors

There can be instances where the cyber-attack caused due to negligence of an employee which results in data breach.


This covers claims against the business arising from negligent acts, errors, or omissions such as the failure to protect sensitive data, the failure to provide notification of a data breach, or the failure to prevent a security breach that results in a DoS attack or the introduction of a virus.

Crime extortion coverage

Risk Factors

A data hacker can steal your confidential data and ask for a ransom in return. You will be liable to pay the ransom from your pockets


This covers a ransom paid to a hacker who’s breached a company’s computer system and threatened to commit a nefarious act like damaging data, introducing a virus, initiating a DoS attack, or releasing confidential data unless the ransom is paid.

Network security liability coverage

Risk Factors

Your employee might be accused for being a part of data breach and now the liability comes over the business.


This provides liability coverage for damages and claim expenses arising out of an actual or alleged act. The coverage includes assessment, remediation, managed security services and business continuity consulting and planning services.

Media coverage

Risk Factors

There is a possibility that your business is sued for copyright or any alterations to someone else’s website where you become liable for lawsuits if any.


This coverage takes care of third party advertising injury claims which occur on the internet and includes IP infringement, copyright infringement, libel, slander and defacement of a website.

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KARUNA COMPLEX with unit no. G4 , Ground floor, 337/3, Sampige Road, Malleswaram, Bangalore 560003