Cybersecurity Insurance for Indian SMEs

What Is Cyber Insurance?

Cyber insurance covers financial losses from cyber incidents — data breaches, ransomware, business interruption, and regulatory fines.

Coverage Types

• Data breach: Notification costs, credit monitoring, legal fees
• Ransomware: Ransom payment (if approved), recovery costs
• Business interruption: Lost revenue during downtime
• Regulatory: Fines and penalties (where insurable)

Requirements for Coverage

• MFA on all critical systems
• Endpoint protection on all devices
• Regular backups with tested recovery
• Incident response plan
• Employee security awareness training

Cost

For Indian SMEs: ₹20,000-2,00,000 annual premium depending on coverage limits and risk profile.