Cyber Insurance
Financial Protection for Your Digital Life
Unity Small Finance Bank offers its existing customers Group Cyber Insurance—a policy designed to safeguard individuals against common digital threats. With the increasing number of financial frauds, phishing scams, and identity misuse incidents, this plan helps cover direct monetary losses and associated costs arising from online vulnerabilities.
This offering is part of Unity Bank’s broader vision to deliver essential security and wellness services beyond traditional banking.
Overview of the Cyber Insurance Plan
Cyber Insurance provides coverage for a range of digital risks—from unauthorized fund transfers to identity theft and data breach-related expenses. The plan is aimed at protecting individuals in everyday scenarios like online shopping, mobile wallet transactions, and exposure to social media risks.
Policyholders are eligible for legal support, data restoration, and psychological counselling services when applicable. Depending on the selected sum insured, premiums start as low as ₹199 (inclusive of GST).
Key inclusions:
This cyber insurance plan offers protection against one of the most common and damaging risks today—unauthorized digital transactions.
Theft of Funds
The plan covers financial loss resulting from unauthorized electronic transfers involving your bank account, debit or credit card, or mobile wallets. The coverage applies in two key scenarios:
1. Unauthorized Account Access
Direct financial loss caused by a third party gaining unauthorized access to your financial accounts.
2. Phishing or Email Spoofing
Losses suffered due to social engineering attacks—like phishing or spoofed emails—are covered, provided the following conditions are met:
• You notify the issuing bank or wallet provider within 72 hours
• You furnish proof that the issuing bank or wallet provider is not reimbursing the disputed amount
• You file a police complaint about the theft within 72 hours
Additionally, if legal action becomes necessary, the policy reimburses reasonable costs incurred in prosecuting the offender responsible for the unauthorized transfer or phishing incident.
Who Can Apply
This plan is available only to Unity Bank customers. This is a voluntary offering and not bundled with any existing Unity product.
Eligibility Summary:
• Age: 18 years and above
• Residency: Must reside in India
• Customer Relationship: Must hold an active Unity Bank account
• Family Cover Option: Available for up to 4 members including proposer, spouse, and dependent children or parents
What’s Not Covered: Policy Exclusions
The policy does not cover losses arising from the following scenarios. Customers are advised to review these exclusions carefully before purchase:
1. Events or circumstances that were already known to you before buying the policy
2. Losses arising from any act of fraud, dishonesty, or recklessness on your part
3. Incidents occurring while you're acting in a professional capacity, including business-related losses
4. Damage to or loss of physical (tangible) property, and any resulting business interruptions
5. Investment-related losses, including inability to sell, trade, or transfer securities
6. Claims linked to bodily injury, trauma, illness, or death
7. Intellectual property disputes, including copyright or trademark violations
8. Claims made between individuals insured under the same policy
9. Contractual obligations that exceed what the law requires you to cover
10.Any improvements or upgrades made to your personal devices after an incident
11. Losses tied to crypto assets, including theft, misplacement, or inaccessibility of coins, tokens, or private keys12.
12. Any loss connected to gambling or wagering activity
Important Disclaimers
• Unity Small Finance Bank is a licensed corporate agent and does not underwrite or adjudicate any claims.
• All policy terms, features, and conditions are governed by the insurer’s official documentation.
• Please review the full policy brochure before proceeding. Cyber insurance is a subject matter of solicitation.
