Cyber insurance

Protection from bad actors and bad actions on the internet

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When is this useful?
If you’re a business operating in the digital domain, a cyber liability policy is a no brainer. With cyber insurance, you’re protected from losses arising from a breach of privacy or security, expenses incurred to prevent or end a cyber extortion threat, and business interruption losses.

What is cyber insurance?

Cyber Insurance is your business's safety shield in the digital world. It provides financial coverage for losses resulting from data breaches, cyber attacks, network damage, and business interruptions. In today’s day and age where cyber threats are increasingly sophisticated and commonplace, Cyber Insurance isn’t a recommendation. It's essential.

Why do you need cyber insurance?

Risk Mitigation
Protect your business from costly cyber threats and data breaches
Business Continuity
Ensure smooth operations even in the face of digital disruptions
Legal Coverage
Cover the legal costs associated with data breaches
Reputation Management
Handle PR crises after a cyber incident effectively
Regulatory Compliance
Meet your obligations under data protection laws
Third-party Cover
Protect against claims from third parties affected by a breach in your network

What does cyber insurance cover?

Data Breach
Covers costs associated with response and recovery after a data breach
Business Interruption
Assists with lost income and increased costs during network downtime
Reputation Management
Covers PR expenses to restore your company's image post cyber attack
Regulatory Fines
Addresses penalties enforced by regulatory bodies due to data breaches
Third-party Liability
Handles legal costs and damages due to third-party claims
Cyber Extortion
Helps handle expenses related to ransomware and other extortion tactics
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Who should buy cyber insurance?

New startups
With limited resources, a cyber attack can be devastating for startups
Growth Stage
As your digital footprint expands, so do your potential vulnerabilities. Cyber Insurance provides the necessary protection as your operations scale up.
Large Entities
Larger organizations often face sophisticated cyber threats. A robust Cyber Insurance policy is vital for extensive network protection and risk management.
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How is D&O liability insurance cover better with Plum?

Risk mitigation
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Adequate evaluation
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Legal compliance
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Regulatory investigation
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Builds reputation
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Financial coverage
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.

Frequently asked questions

Why do I need business insurance?

Business insurance is essential because it safeguards your business from unforeseen financial risks. It can help cover the costs of property damage, liability claims, legal fees, and other expenses that could otherwise affect your business.

How much does business insurance cost?

The cost of business insurance depends on many factors, including the size of the business, the industry, the location and the coverage limits. Check out our recommendation engine to receive policies tailored to your business with estimated costs.

What does business insurance cover?

The coverage provided by business insurance depends on the type of policy you purchase. Common coverage areas include property damage, liability claims, shareholder lawsuits and data breaches.

Do companies belonging to specific industries particularly need business insurance?

Every business faces unique risks and liabilities, regardless of industry.

It would be prudent to reach out to your insurance provider for a clear picture of the risks typically faced by businesses like yourself and how to mitigate such risks. Book a meeting with a Plum insurance expert here.

Why should I choose Plum for Business Insurance?

  1. Provides one-touch access to trusted insurers and cost-effective plans.
  2. Connect with insurance experts for regular check-ins and advisory support
  3. Brings the expertise and leverage with insurance companies for high-value claims