Tata AIG launches CyberEdge insurance to tackle rising cyber threats

Tata AIG has launched CyberEdge, a cyber insurance solution for businesses and individuals in Telangana and Andhra Pradesh. The policy covers data breaches, ransomware, and financial losses while offering 24/7 legal, forensic, and crisis management support.

Hyderabad: Tata AIG General Insurance Company has announced the launch of CyberEdge, a cyber insurance solution aimed at businesses and individuals in Telangana and Andhra Pradesh.

The product is designed to provide protection against growing cyber threats, including data breaches, ransomware attacks, and identity theft.

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CyberEdge offers coverage for financial losses, legal expenses, and crisis management services, ensuring robust risk mitigation in an increasingly digital environment. The initiative reflects Tata AIG’s commitment to strengthening cybersecurity resilience in the region, the company said in a press release on Wednesday.

The solution offers end-to-end financial and operational protection covering forensic investigations, data restoration, legal support, extortion management, and business interruption losses.

Key features include:

First Response Cover: 24/7 x 365 access to Tata AIG’s legal and IT forensics team within two hours of incident reporting, crucial during the first 24 hours.

Bricking Recovery: Covers the replacement cost of damaged computer systems rendered inoperable due to a cyberattack.

Network Loss Calculation: Allows businesses to choose Gross or Net Profit coverage, including forensic accounting fee coverage.

Wider Computer System Protection: Extends to BYOD (Bring Your Own Device), Operational Technologies, Industrial Control, and SCADA systems.

Network Interruption: Covers business interruptions up to 120 days post-incident, including mitigation costs.

Expanded Insured Events: Includes security and system failures, voluntary or regulatory shutdowns, and OSP-related incidents (if opted).

Mitigation & Prevention: Provides Loss Prevention Services at no additional premium.

Multimedia Liability: Covers liabilities for content shared on websites and social media.