Cyber Insurance
Protect your SME business from unexpected events with insurance that covers property, income, and liability to third parties.
What is Cyber Insurance and Why is it Necessary?
Cyber Insurance (or Cyber Liability Insurance) is a policy specifically designed to cover financial damages and costs associated with cyber incidents. These incidents may include data theft, cyberbullying, or fraud resulting from online transactions.
The Necessity of Having It
In this digital age, where most of our daily lives are connected to the internet, the risk of facing cyber threats has increased accordingly. Therefore, having Cyber Insurance is necessary to:
- Mitigate Financial Loss: Protect against situations like money being stolen from your accounts or demands for ransom.
- Protect Reputation and Psychological Harm: Offer protection from damages caused by cyberbullying or harassment.
- Lessen the Financial Burden: Reduce costs associated with legal proceedings or managing cyber emergencies.
Who Should Have This Coverage?
This product is suitable for anyone who is active online, especially the following individuals:
- Regular Online Transactors: Those who use mobile banking, make online payments, or invest through digital channels.
- Online Shoppers: Individuals who purchase goods and make payments through various platforms.
- Online Sellers: People who conduct commerce and receive/send goods over the internet.
- Social Media Users: Individuals at risk of being bullied or harassed online.
Key Product Highlights
- Confidence (Peace of Mind): This product is suitable for all types of online transactors, whether they are buying or selling goods online.
- Value for Money (Affordability): There are three plans available to suit various needs, with premiums starting from just 200 Baht (This price is inclusive of stamp duty and Value Added Tax).
Coverage Details
The coverage encompasses damages arising from the following cyber threats:
1. Theft of Funds via the Internet
(Theft of Funds)
This covers the financial losses incurred by the insured and the legal expenses arising from personal data theft or a phishing attack conducted over the internet.
2. Internet Extortion
(Cyber Extortion)
This covers the ransom money lost and the necessary expenses to resolve the situation resulting from a cyber extortion incident.
3. Internet Bullying
(Cyber Bullying)
This covers legal defense costs and psychological treatment expenses incurred due to reputational damage caused by cyberbullying.
4. Online Shopping
(Online Shopping)
This provides coverage in cases where the insured is deceived into buying goods and has made the payment, but the seller fails to deliver the products within 30 days.
5. Online Sales
(Online Sales)
This provides coverage in cases where the insured is deceived into selling goods and has delivered the products to the buyer, but the payment for the goods is not received within 30 days.
(This specific coverage is available only with Plan 3.)
Terms and Conditions of Coverage (Underwriting Requirements)
Please note the following conditions for obtaining this insurance:
Age: Coverage is available for individuals aged 15 to 100 years.
Nationality and Residence: Coverage is for Thai nationals who are residents of Thailand.
Policy Limit: The insured person may purchase only one policy per individual.
Policy Duration: The insurance plan provides coverage for a period of one year.
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