Zurich Kotak Cyber Protect tnc

Zurich Kotak General Insurance Company (India) Limited (formerly Kotak Mahindra General Insurance Company Limited)
Registered & Corporate Office: 401, 4th Floor, Silver Metropolis, Jai Coach Compound, Off Western Express Highway, Goregaon (East), Mumbai – 400063.
UIN: IRDAN152RP0001V02202021

Section 1 — Digital Theft of Funds

Coverage 1.1

We will indemnify You for Theft of funds resulting from a Cyber Incident or Hacking of Your Bank account, Credit/Debit card, or Mobile wallets by a Third party, subject to all of the following conditions being met:

1. The loss occurred during the Policy period
2. The loss is discovered within 90 days of occurrence
3. You reported the incident to the issuing Bank or Mobile wallet within 72 hours of discovery
4. You lodged an FIR with the Police within 72 hours of discovery
5. You provide evidence that the Bank or Mobile wallet company has not and will not reimburse the fraudulent transaction, along with a copy of the FIR

Coverage 1.2

We will cover Legal costs to pursue action against a Third party for non-reimbursement arising from a 1.1 event.

Coverage 1.3 — Additional Conditions for Overseas Travel

1. Copy of FIR or Police Complaint dated within 5 days of first arrival into India
2. Copy of passport as proof of travel
3. Travel duration must not exceed 2 months for a single trip outside India

1.4 Exclusions

We will not pay for losses arising from:

1. Gross negligence in safeguarding Personal information, Bank accounts, cards, or wallets
2. Theft due to physical loss or theft of a Computer system
3. ATM withdrawal, cheque or physical bank instruments by a Third party
4. Theft following physical theft or loss of Credit/Debit card
5. Criminal and fraudulent acts committed by You
6. Loss of Non-Fiat currencies including Bitcoins
7. Circumstances or incidents existing prior to Policy inception

Section 2 — E-Reputation Loss and E-Extortion Threat

Coverage 2.1

We will reimburse E-reputation loss due to a Cyber Bullying or Defamation Event (prior written consent required), covering:

1. Costs for specialist IT service provider to remove online material
2. Counselling Costs up to 15 hours or actual incurred, whichever is lower
3. Legal costs to pursue or defend civil lawsuit against or by a Third Party
4. Lost wages for up to 7 working days per loss occurrence

2.2 Conditions for 2.1

1. You suffered Cyber Bullying or a Defamation Event
2. The event first occurs and is discovered during the Policy period
3. Reported to police within 72 hours of discovery
4. Reported to Us within 30 days of first discovery
5. Lost wages claim must be supported by an employer letter confirming unpaid wages plus a medical certificate

Coverage 2.3

We will reimburse Extortion loss due to an Extortion Threat.

2.4 Conditions for 2.3

1. You suffered an Extortion Threat
2. The event occurs and is discovered during the Policy period
3. Reported to police within 72 hours of discovery
4. Reported to Us within 30 days of discovery

2.5 Exclusions

1. E-reputation Loss or Extortion Loss caused by a Journalist
2. Any publication or material relating to non-digital media (radio, newspaper including electronic newspaper, television broadcast)

Section 3 — Data Recovery

Coverage 3.1

We will reimburse reasonable and necessary costs paid to a Specialist IT Service Provider to restore data on Your Computer System that was lost, altered, corrupted, or destroyed as a direct result of a Cyber Incident.

Coverage 3.2

We will reimburse costs of a specialist IT service provider to decontaminate, clean and restore Your Computer System affected by a Cyber Incident.

Coverage 3.3

We will reimburse Extortion loss due to a Data Extortion Threat.

3.4 Conditions

1. Loss, alteration, corruption, or destruction occurs and is discovered during the Policy period
2. Reported to Us within 45 days after discovery
3. You apply security-critical OS updates within 45 days of release

3.5 Exclusions

1. No payment for hardware, software, or license replacement; no payment for data that cannot be recovered or for loss from inability to recover data
2. No payment for betterment of computer system beyond its pre-insured-event state unless unavoidable

Section 4 — Media Liability

Coverage 4.1

We will pay sums for which You are legally liable for Third party claims arising from:

1. Defamation
2. Breach of copyright, title, slogan, trademark, trade name, service mark, service name, or domain name
3. Breach or invasion or interference of privacy rights

resulting from online media activities including social media (Facebook, Instagram, LinkedIn).

Coverage 4.2

We will reimburse Legal Defence Costs from a Third Party claim as described in 4.1, subject to: the Third party claim must be first made against You during the Policy period and reported to Us during the Policy period or Discovery Period (if applicable).

Section 5 — Definitions

Section 6 — General Exclusions

The Policy does not cover Claims arising directly or indirectly from:

Section 7 — Special Conditions

7.1 Reporting a Claim

You must report as soon as reasonably practicable during the Policy Period or Discovery Period any actual Theft of funds, E-reputation loss, Extortion Loss, Data Extortion Threat, Extortion Threat, or loss/alteration/corruption/destruction of Data.

Documents required with Claim:

1. Fully completed and signed claim form
2. Copy of FIR lodged with police/cyber cell and/or duly acknowledged copy of Police Complaint
3. Copies of legal notices received
4. Copies of court summons
5. Copies of correspondence with Bank/Mobile Wallet regarding Theft of funds
6. Legal notice served on Bank/Mobile Wallet company for Theft of funds
7. Original/attested invoices for all expenses claimed
8. Original/attested invoices for specialist service provider
9. Details/invoices of costs for filing Claim against Third Party perpetrator
10. Proof of ownership of Computer system
11. Proof that Personal data is proprietary information belonging to You

Reimbursement will only be made in Indian Rupees (₹).

7.2 Discovery Period

If the Policy is not renewed (for reasons other than non-payment) and not replaced with similar insurance, the Policyholder is automatically entitled to a 90-day Discovery Period with no additional premium.

7.3 Other Insurance

If any covered amounts are also insured under another policy, You must advise Us within a reasonable time and provide details.

7.4 Claims Conditions

1. All costs subject to prior written consent by Us (not unreasonably withheld or delayed)
2. All claims paid in ₹ (Indian National Rupee). Foreign currency losses converted at RBI published cash rate of exchange on date of loss

Section 8 — General Terms and Conditions

1. Disclosure of Information — Policy null and void for untrue statements, misrepresentation, mis-description, non-disclosure, material information withheld, or fraudulent claims.
2. Observance of terms and conditions — Due observance and fulfilment of terms is a condition precedent to Company liability.
3. Material Change — Material information includes everything You know or could reasonably know that relates to Proposal Form questions.
4. No constructive Notice — Company not bound by knowledge of its personnel unless specifically informed by You.
5. Terms and conditions of the Policy — Schedule and Policy terms together form one document.
6. Contribution — If other insurance also covers the same loss, Company is only liable for its rateable proportion.
7. Subrogation — You must assist Company in enforcing rights/remedies against third parties after indemnification.
8. Jurisdiction — Policy subject to exclusive jurisdiction of Courts of India.
9. Limitation of Liability — Rejected or partially settled Claims not subject to proceedings within the Limitation Act 1963 period shall be deemed closed and liability extinguished.
10. Renewal Notice — Company not bound to accept renewal premium or give notice; renewal premium paid on understanding that no material alteration has occurred.
11. Cause of Action/Currency for Payments — Claims only payable if cause of action arises in India; all Claims payable in India in Indian Rupees only.
12. Policy Disputes — Disputes adjudicated under Indian law; competent Courts of India have exclusive jurisdiction.
13. Limit of Liability — Aggregate liability shall not exceed Limit of Liability during Policy period; each sublimit is part of overall Limit of Liability; exhausted sublimit means no further liability for that Insuring clause.
14. Arbitration — Parties may mutually agree to settle disputes under Arbitration and Conciliation Act, 1996. (Not applicable to retail/individual policyholders.)
15. No Third Party Rights — Policy not intended to confer rights or benefits on any Third Party.
16. Sanctions/Embargoes — No cover if it would expose Company to sanction, prohibition or restriction under UN resolutions or EU/US or other applicable trade or economic sanctions laws.
17. Communications and Notices — All communications must be in writing, delivered by hand, post, or facsimile; no agent or broker authorized to receive notices on Company's behalf.
18. Customer Service — Clarification or assistance available at Company's offices or call centre during normal business hours.
19. Electronic Transactions — You agree to comply with Company's terms for remote or electronic transactions; all such transactions constitute legally binding transactions; consent validated or confirmed by You for tele or web sales.
20. Grievances
    • Toll-free: 1800 266 4545
    • Email: care@zurichkotak.com
    • Grievance Officer: grievanceofficer@zurichkotak.com
    • Senior Grievance Officer: seniorgrievanceofficer@zurichkotak.com
    • Chief Grievance Officer: chiefgrievanceofficer@zurichkotak.com
    • IRDAI Bima Bharosa Portal: bimabharosa.irdai.gov.in
    • Website: www.zurichkotak.com
    • Council for Insurance Ombudsmen: www.cioins.co.in/Ombudsman

Cancellation/Termination/Refund — Company may cancel with 15 days written notice; refunds pro rata premium for unexpired period. You may cancel with 15 days written notice; Company retains premium on short period scale:

Company may also cancel on grounds of mis-representation, fraud, non-disclosure or non-cooperation with 15 days notice and no refund.

Annexure I — Insurance Ombudsman Details