TATA AIG Cyber Risk Protector

Tata AIG General Insurance Company Limited is a joint venture between American International Group (AIG) and Tata Group. The company started conducting general insurance business in India on January 22, 2001. Here we will tell you about the Tata AIG Cyber Risk Protector insurance plan.

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Tata AIG Cyber Risk Protector: Inclusions

The insurance plan provides coverage for the following perils:

  • Loss of personal information after cyber attack
  • Loss of corporate information after cyber attack
  • The insurance policy provides coverage for any loss or damage caused due to an error or omission in the network security
  • The insurer will provide coverage for any professional fees for legal advice and representation in connection with regulatory investigations
  • The insurer will pay for any data administrative fines that the insured is legally obligated to pay at the end of the regulatory investigation arising out of the breach of data protection law.
  • The insurer pays for professional fees (up to a certain limit) for the insured to investigate, gather information, and prepare notifications to data subjects and regulators about any breach of data security or data protection laws.

*Refer to the policy wording of the Bajaj Allianz D&O insurance plan to learn about its coverage in detail.

Tata AIG Cyber Risk Protector: Exclusions

The insurance policy does not provide coverage for the following perils:

  • This Extension does not cover losses that result from inaccurate, inadequate, or incomplete descriptions of the price of goods, products, or services, authenticity of goods, or failure to meet quality or performance standards.
  • This Extension does not cover losses resulting from errors made in financial data that the company publishes, including annual reports, accounts, and communications to the stock market.
  • This Extension does not cover losses resulting from extortion threats made by any government entity or public authority.

*Refer to the policy wording of the Bajaj Allianz D&O insurance plan to learn about its coverage in detail.

Tata AIG Cyber Risk Protector: Claim Process

In order to raise the claim under Tata AIG Cyber risk protector, follow the steps given below:

To make a claim under this cyber insurance policy, follow these steps:

  • Request a claim form from the insurer, fill it out, sign it, and submit it.
  • The insurer will assign an investigator to analyze the incident, assess the severity of the cyber attack and may take up to 4-5 hours to complete the investigation.
  • If the cyber attack is severe, an external cyber expert will be hired to analyze the incident to ensure objectivity.
  • All concerned parties, including the insured, will discuss the resolution of the attack.
  • The insurer will ask the policyholder for the estimated amount of the loss sustained.
  • The details are then reported to the insurance company's claiming team for review.
  • Upon final approval, the claim settlement is done.

Tata AIG Cyber Risk Protector: FAQs

Written By: PolicyBazaar - Updated: 27 September 2023
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4.3 October 11, 2022
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4.3 October 06, 2022
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4.5 March 18, 2022
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4.5 March 17, 2022
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