Safeguard your business with comprehensive cyber insurance tailored to Singapore’s evolving digital landscape. Get protection from data breaches, network failures, and costly downtime.
In 2024, Singapore reported over 21 million cyberattacks, marking a significant increase from previous years.
The Singapore Cyber Liability Insurance Market is projected to grow from USD 108.04 million in 2024 to USD 172.82 million by 2029, at a CAGR of 9.85%.
Singapore leads globally in cyber insurance adoption, with 96% of organizations having some form of cyber insurance coverage.
SMEs are targeted by cybercriminals through phishing scams, ransomware attacks, and business email compromise — costing millions each year in data loss, downtime, and financial fraud.
Coverage for injury
to third parties
Protection against
property damage
claims
Legal
defense costs
Compensation for
medical expenses
Coverage for
accidental incidents
on business premises
Businesses with remote or hybrid teams
E-commerce businesses
SMEs and large enterprises
Professional services (Law, Finance, Healthcare)
Proactive risk management protocols to protect intangible assets and operating systems.
Coverage against liabilities arising from data protection laws, management of personal data, and consequences of data breaches.
Integrated global platforms for easy access to commercial property and casualty coverage through a single point of contact.
Pre-loss risk mitigation and incident response services.
Specialized solutions against data breaches, electronic thefts, and other cyber threats.
A: Yes, small businesses are often targeted due to potentially weaker security measures. Cyber insurance provides essential protection against financial losses from cyber incidents.
A: Coverage often includes data breach response, business interruption losses, cyber extortion, and legal fees associated with cyber incidents.
A: Assess your business’s specific risks and consult with insurance professionals to tailor a policy that fits your needs.
A: Yes, insurers offer specialized policies catering to various industries, addressing unique risks and compliance requirements.
A: While cybersecurity measures aim to prevent incidents, cyber insurance provides financial support and services to recover from breaches that may still occur. Understanding and investing in cyber insurance is a proactive step towards securing your business in Singapore’s dynamic digital environment.
For personalized advice and solutions, consider consulting with insurance professionals who can guide you through the options available.
INTERNATIONAL PROTECTION GROUP PTE LTD.
#27-01 Prudential Tower,
30 Cecil Street,
Singapore, 048623
