Cyber Insurance
Our lives are increasingly connected online—from banking and shopping to social media and remote work. While digital convenience has grown, so have cyber risks such as identity theft, online fraud, phishing scams, and cyber extortion. Cyber insurance helps protect you against the financial consequences of these threats by providing coverage for eligible cyber incidents.
Universal Sompo Cyber Insurance, offered through our Digital Protection policy, is designed for individuals and families, offering financial protection against a range of cyber risks while helping you navigate the aftermath of a cyber incident with greater confidence.
Cyber insurance is a specialised insurance policy that provides financial protection against losses arising from cyber-related incidents. It helps individuals manage the financial impact of risks such as online fraud, identity theft, cyber extortion, phishing attacks, malware infections and unauthorised digital transactions, subject to the policy terms and conditions.
Unlike traditional insurance, a cyber insurance policy like our Digital Protection policy focuses on risks associated with your digital life, helping you stay financially protected in an increasingly connected world.
Cyber risks can affect anyone who uses the internet or digital devices. Cyber insurance is suitable for individuals who want financial protection against online threats and cybercrime through a dedicated Digital Protection policy.
It may be especially beneficial for:
Cyber insurance offers protection against a range of cyber risks. However, the scope of coverage depends on the Digital Protection policy wording, while certain situations are specifically excluded.
Universal Sompo Cyber Insurance, under the Digital Protection policy, may provide coverage for eligible losses arising from:
Financial protection against losses resulting from the misuse of your personal identity or confidential information.
Coverage for eligible financial losses arising from fraudulent online purchases.
Protection against unauthorized online banking or digital payment transactions, subject to the policy terms.
Coverage for eligible expenses arising from cyber extortion incidents, including ransomware attacks, are covered.
Protection against financial losses resulting from phishing attacks and fraudulent communications.
Coverage for eligible losses arising from malicious software attacks that compromise your digital systems.
Financial assistance for covered expenses arising from cyber bullying incidents, subject to policy conditions.
Coverage for eligible costs associated with recovering digital data following a covered cyber incident.
Coverage for expenses incurred in managing reputational damage resulting from specified cyber incidents.
A cyber insurance policy generally does not cover:
Fraudulent acts committed by the insured
Deliberate or intentional acts
Illegal activities
Pre-existing cyber incidents
Losses arising from war or cyber warfare
Contractual liabilities not covered under the policy
Events specifically excluded in the policy wording
Universal Sompo Cyber Insurance, via the Digital Protection policy, is designed to help individuals manage cyber risks with comprehensive financial protection.
Key features include:
Coverage under Universal Sompo Cyber Insurance's Digital Protection policy extends beyond the proposer, subject to the policy terms.
The policy may cover:
Universal Sompo Cyber Insurance, with the Digital Protection policy, offers multiple sum insured options, allowing individuals and families to choose coverage that matches their digital lifestyle and financial protection needs.
The premium payable depends on factors such as the selected sum insured, policy type, and coverage chosen.
The premium for a cyber insurance policy, such as the Digital Protection policy, depends on several factors that determine the level of coverage and associated risk. Choosing the right sum insured and policy type can help you find a plan that meets your protection needs.
Factors that may influence your cyber insurance premium include:
Sum insured selected
Individual or Family policy
Coverage under the policy on Tie-in or standalone basis
Policy on family floater is opted with 10% additional premium.
Policy period will be for 12 months from the date of payment of premium.
Universal Sompo Cyber Insurance's Digital Protection policy is designed for individuals seeking financial protection against cyber risks.
The cyber insurance policy is available for eligible Indian individuals, subject to the insurer's underwriting guidelines.
Age – Individual above 18 years.
The policy is available for a one-year policy term.
Buying cyber insurance online is quick and convenient with Universal Sompo.
Buying a cyber insurance policy like the Digital Protection policy online generally requires minimal documentation.
You may need:
If you experience a covered cyber incident, notify Universal Sompo as soon as reasonably possible to begin the claims process under your Digital Protection policy.
Report the cyber incident through the insurer's designated claim notification channels.
Provide the completed claim form and all relevant supporting documents relating to the cyber incident.
The cyber insurance claim will be assessed in accordance with the policy terms and, if admissible, settled as per the applicable conditions.
To help reduce cyber risks and remain compliant with the Digital Protection policy conditions, policyholders should adopt safe digital practices.
These include:
Cybercriminals use increasingly sophisticated techniques to target individuals and families. Some of the most common cyber threats that highlight the need for a cyber insurance policy include:
Being aware of these threats can help you take preventive measures and reduce your exposure to cyber risks.
While cyber insurance under the Digital Protection policy provides financial protection, practising good cyber hygiene is equally important.
Follow these tips to stay safer online:
These simple practices can significantly reduce the risk of cyber fraud and identity theft.
Renewing your cyber insurance policy before it expires helps ensure uninterrupted financial protection against cyber risks with your Digital Protection policy.
As cyber threats continue to evolve, choosing an insurer with a comprehensive cyber insurance solution like the Digital Protection policy can help you navigate digital risks with confidence.