Bajaj Allianz Cyber Insurance Policy

Bajaj Allianz General Insurance Company Limited offers general insurance policies. It is a joint venture between Bajaj Finserv Limited and Allianz SE. Bajaj Allianz General Insurance Company Limited offers Cyber Insurance Policy that provides coverage to the policyholder against cyber threats such as identity fraud, phishing, etc.

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Insuring Clauses under Bajaj Allianz Cyber Insurance Policy

Insuring clauses refer to the risks assumed by the insurer. They are as follows:

  • Social Media Cover
  • Identity Theft
  • Cyber Stalking Cover
  • Malware Cover
  • IT Theft Cover
  • Phishing Cover
  • Media Liability Cover
  • E-mail Spoofing Cover
  • Cyber Extortion Cover
  • Data and Privacy Breach by 3rd Party Cover

Bajaj Allianz Cyber Insurance Policy: Inclusions

The cyber insurance offered by Bajaj Allianz General Insurance Company provides coverage for the following perils:

Cost of Prosecuting Criminal Case

  • Defence Cost
  • Direct & Pure Financial Loss
  • Transportation expenses
  • Photocopying of documents arising out of defence
  • Online loss of funds
  • Online payment loss of wallet
  • IT Consultant cost
  • The cost incurred in a claim for damages against 3rd party
  • Legal fees incurred from a claim for damages against Financial Institution/Payment system operators

Bajaj Allianz Cyber Insurance Policy: Exclusions

The cyber insurance policy offered by Bajaj Allianz General Insurance Company does not provide coverage for the following perils:

  • Bodily Injury
  • Property Damage
  • Dishonest & Improper conduct
  • Unauthorised collection of data
  • Unsolicited communication
  • Immortal/Obscene services

Bajaj Allianz Cyber Insurance Policy: Claim Process

To raise a claim under Cyber Safe Insurance Policy, follow the below-mentioned steps:

  • Inform the insurance provider
  • Submit duly filled, signed and stamped claim form
  • The insurance provider will assign an investigator for incident analysis as well as to check the severity of the cyber attack
  • The turn-around time for the inspection process is around 4-5 hours
  • In case the cyber attack is severe then a cyber expert is hired to analyse the incident. It cannot be done by the in-house cyber expert to avoid biasedness and keep transparency.
  • All the concerned parties discuss the resolution of the incident including the policyholder.
  • Then the insurer asks the insured about the estimated cost of the loss sustained
  • Then all the details are re-reported to the claiming team of the insurance company.
  • Then the claiming team reviews it and after the final approval, the settlement is done.

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Policybazaar for Business - Cyber Insurance - Customer Reviews
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4.5/5
Based on 47 reviews
4.5
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Based on 47 reviews
12 users
34 users
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0 users
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.
Agra
4.3 October 06, 2022
Amit
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.
Nashik
4.5 October 04, 2022
Pinku
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.
Surat
4.5 October 03, 2022
Aashish
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.
Ahemdabad
4.5 October 02, 2022
Nishant
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.
Udaipur
4.5 October 01, 2022
Puneet
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.
Assam
4.5 September 30, 2022
Govind
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.
Jharkhand
4.8 September 29, 2022
Rinku
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
Ishan
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.
Ajmer
4.5 March 17, 2022
Anurag
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.
Delhi