Cyber Insurance for Manufacturing Industry

Organizations have realized the importance of cyber insurance for the manufacturing industry. The business has received an unprecedented increase in cyber attacks. Therefore, the industry is keen to subscribe to the cyber policy. In addition, it is paramount for the manufacturing industry to cover the loss caused due to cyber attacks in order to survive in the industry.

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Cyber Security Insurance Policy: Inclusion

The following coverage is included under the cyber security insurance policy:

  • Indemnifies the insured against the lawsuit instituted by a third party
  • Provide coverage against ransomware attacks which recorded a sudden increase during the Covid-19 era
  • Offers business interruption cost and covers the financial loss

Cyber Security Insurance Policy: Exclusion

The following are the exclusions of the cyber security insurance policy:

  • A dishonest conduct of the insured in order to obtain undue advantage from the insurer
  • Deliberate concealment of important information which must be shared with the insurance company in order to obtain the insurance benefit
  • Bodily injury, emotional damage and disease shall only be included in health insurance
  • Property damage or destruction of the property is not entitled to be covered under the cyber security policy
  • Insured indulged in collecting personal data of users or clients. Loss incurred due to such an act shall not be covered under the cyber security policy
  • When the insured is found indulging in cyber terrorism
  • The insured indulged in providing immoral services to the clients

Cyber Insurance for Manufacturing Industry: Claim Process

To make a claim under Cyber Insurance for the manufacturing industry, follow these steps:

  • Notify the insurer of the cyber incident promptly to kick off the claim process. The insurer will guide you through the subsequent steps.
  • The insurer will initiate an investigation to evaluate the extent of the damages and losses you have incurred. This may necessitate partnering with third-party specialists such as forensic investigators or data breach response firms.
  • Once the investigation is complete, the insurer will determine whether the policy covers the losses and damages you have suffered.
  • If the insurer concludes that the losses are covered, they will pay out the claim to you. The payout amount will depend on the policy limits and any applicable deductibles.
  • In case of any disagreements concerning the coverage or the claim amount, the insurer and the insured will collaborate to resolve the matter through negotiation or mediation.


  • Que 1: Why cyber insurance is essential for the manufacturing industry?

    Ans: The cyber security policy indemnifies the insured against several threats. It protects the interest of manufacturers due to breaches of data and ransomware threats. The manufacturing industry has witnessed a sudden growth in cyber attacks in the past few years. Therefore, in order to avoid such losses and fear of data breach, the manufacturer must subscribe to a cyber security policy.
  • Que 2: What are the exceptions of cyber security insurance policy?

    Ans: Cyber insurance covers several kinds of losses. However, there are some exceptions to be noted by the manufacturer before buying such policies. The cyber policy does not cover the following losses.
    • A loss caused due to the dishonest intention of the insured shall not be covered under a cyber insurance policy.
    • The insurer is not liable to offer coverage if the insured is found dishonest. The insured cannot enjoy any coverage if he conceals important details from the insurance company.
    • In addition, no cyber policy coverage shall be entertained if the insured fraudulently steal the private data of the users. Any loss caused due to such an act shall not be covered under the cyber security policy.
  • Ques 3: Is it worthwhile to subscribe to cyber insurance for the manufacturing industry?

    Ans: Nowadays, every industry is prone to risk. The cyber threats have increased in the past few years. Hence, the manufacturing industry must subscribe to cyber policy for indemnification against losses.
Written By: PolicyBazaar - Updated: 10 May 2023
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Policybazaar for Business - Cyber Insurance - Customer Reviews
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4.3 October 11, 2022
Aarti Singh
Knowledegable Team
The representatives at PolicyBazaar were knowledgeable, patient and genuinely committed to helping me find the best insurance policy for my requirements. They took the time to answer all my questions and provide valuable guidance, ensuring that I had a thorough understanding of the coverage details and terms. THANKS.
4.3 October 06, 2022
Quick And Hassle Free
After seeing a rise in cyber attacks in many of the companies, i decided to purchase a cyber insurance policy for my start up. I went on the Policy Bazaar website and learned about the coverage in detail and purchased it from their website only. It was quick and hassle-free purchase.
4.5 October 04, 2022
Paperless Process
We bought the contractual liability insurance from policybazaar and received the best overall package. The process was paperless as we applied for insurance online and the support was amazing.
4.5 October 03, 2022
Extensive Coverage
We thoroughly checked all the benefits and features and decided to buy a contractual liability policy from Policybazaar. It provides all the necessary features to safeguard our business against any loss.
4.5 October 02, 2022
Easy To Buy
It was easy to buy insurance from Policybazaar and customer support was also amazing to clear all the doubts. Contractual liability insurance is essential for my business and I could not get a better deal than this.
4.5 October 01, 2022
Easy Plan Comparision
An ideal Contractual Liability Insurance policy purchased to protect our business that we ecounter in our everyday operations. Policybazaar offers a platform to compare multiple plans.
4.5 September 30, 2022
No Broker And Paper Work
Great experience at Policybazaar. We did not know that buying Contractual Liability Insurance could be that easy. Also there is no broker and paperwork.
4.8 September 29, 2022
Perfect Insurance Coverage
I purchased Contractual Liability Insurance from Policybazaar and the coverage they provided is perfect to keep my hardware business safe various unforeseen instances.
New Delhi
4.5 March 18, 2022
Cloud Storage Cover
I wanted to purchase a cyber insurance policy could provide coverage for the data stored in cloud network. I went on the Policybazaar website and look up for plans that would provide me with this coverage. I compared different plans and in a matter of minutes i found the right cyber insurance plan that would fit my requirement.
4.5 March 17, 2022
Good User Interface
I was looking for a cyber insurance policy online. After looking for the insurance plan online I landed on the Policybazaar website. Trust me, the user interface of the website is so good that i was able to locate the cyber insurance plan and purchase it in not more than 10 minutes. Thanks Policybazaar.