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.

Get ₹5 crore Cyber Risk Insurance for Business @ ₹2 Lakhs*
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.
FAQs
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Q1. How old is Bajaj Allianz General Insurance Company?
Ans: Bajaj Allianz General Insurance company is more than 21 years old company. -
Q2. Is Bajaj Allianz General Insurance company safe and reliable company?
Ans: Yes, the company is safe as well as reliable as the company has a customer base of more than 11 Crore. The company has around 9000 employees and an insurance agent network of more than 80,000. -
Q3. What is the claim settlement ratio of Bajaj Allianz General Insurance company?
Ans: According to the annual report of IRDAI on the claim settlement ratio, Bajaj Allianz has the best claim settlement ratio of 98% in the year 2022. -
Q4. Does Policybazaar assist in filing a claim under Bajaj Allianz Cyber Insurance claim?
Ans: Yes, Policybazaar has a dedicated team to assist you in filing the claim under Bajaj Allianz Cyber Insurance Policy.