A comprehensive Cyber
Insurance coverage with full suite of responsive services
SBI General Insurance (SBIG), one of India’s fastest
growing General Insurance company has announced the launch of its new product
- Cyber Defence Insurance. The product will offer cyber insurance
to businesses. While in the initial phase the intent is to focus on SME,
mid-market businesses, it can cater to the larger business conglomerates as
well.
This niche product ‘Cyber Defence Insurance’ offers protection
against the growing threat of cyber breaches. It is designed to protect against
major insurable cyber exposures like hacking attacks, identity theft,
disclosure of sensitive information and business interruption.
Over the years, digital advancement has exponentially increased
cyber risk exposures for almost all types and sizes of business. Cyber attackers
work on the theory that majority of the businesses do not spend adequately on
shoring up their cyber security. They work on the presumption that cyberattack
techniques that have been used on large enterprises will work on relatively
smaller enterprises. It therefore extremely important for businesses to be well
prepared for these emergencies. To help defend such businesses from resultant
financial and/or reputational losses, SBIG has its new product offering “Cyber
Defence Insurance”.
Speaking on this development Mr. Subramanyam B, Head -
Underwriting & Reinsurance , SBI General Insurance said, “Cyber insurance
is an emerging sector for increasing resilience among businesses and is one
solid step in shoring up the cyber defence. Because there is no 100% security,
businesses need to move towards cyber-resilience combining security measures
& risk management. With this product we, at SBIG, offer various post event
services that a customer needs when a cyber event happens. This includes
delivery of a 24 /7 incident response service and offers the policy
holder immediate support when a cyber incident occurs. This in turn
ensures that our customers are well protected at every step in their growing
business.”
SBIG’S Cyber Defense comes with CyRUSS (Cyber Risk Underwriting
& Solution Suite) – a cloud-based tool for Commercial Cyber polices
including risk assessment, ongoing risk management and claim management as
well. This will be unique to SBIG.
SBIG’s Cyber Defense Insurance offers both first &
third-party coverage benefits including coverage options for Contingent
Business Interruption, System Failure, Reputational Loss, Multimedia Liability
and Computer Crime. The crisis response service that comes with this
product enables swift and efficient management of cyber events and provides IT
forensic investigations, legal advice, reputational and PR management.
About SBI General
Insurance
SBI General Insurance Company Limited commenced its operations in
the year 2010 and is a joint venture between State Bank of India and Insurance
Australia Group (IAG).
The company offers a complete suite of products ranging from
Motor, Health, Personal Accident, Travel and Home Insurance in the retail space
and products like Aviation, Fire, Marine, Package, Construction & Engineering
and Liability Insurance in the commercial space.
SBI General Insurance follows a robust multi-distribution model
encompassing Bancassurance, Agency, Broking and Retail Direct Channels. Today,
SBI General’s Distribution family includes over 21,000 IRDA certified employees
including the State Bank Group employees, and over 8,000 Agents to make
insurance easily available even in the remote areas of the country.
SBI General Insurance has established its presence in nearly 23000
branches of State Bank Group. The company’s current geographical exposure
covers 110+ cities pan India with a presence of another 350+ locations through
satellite resources.
SBI General Insurance is currently serving three key
customer segments i.e. Retail Segment (catering to Individual & Families),
Corporate Segment (catering mid to large size companies) and SME Segment.
For further details, please contact:
SBI General Insurance
Rajul Berde
+91 7045353841
|
Perfect Relations
Srinivas Vadde
9666222989
|
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