QBE Cyber Insurance Singapore Review 2025
Last updated: November 2024
Overview
QBE Insurance is a leading global insurer with a strong presence in Singapore's cyber insurance market. They specialize in providing affordable cyber coverage for small and medium enterprises (SMEs), with policies starting from just $500 per year.
Key Coverage Features
- Data Breach Response: Full coverage for notification costs, credit monitoring, and forensic investigation
- Ransomware Protection: Coverage for ransom payments and data recovery costs
- Business Interruption: Income loss coverage when cyber incidents disrupt operations
- PDPA Compliance: Coverage for regulatory fines and legal defense under Singapore's Personal Data Protection Act
Pricing
| Business Size | Coverage Limit | Annual Premium |
|---|---|---|
| 1-10 employees | $250,000 | $500 - $800 |
| 11-50 employees | $500,000 | $1,000 - $2,000 |
| 51-200 employees | $1,000,000 | $2,500 - $5,000 |
Pros & Cons
Pros
- + Affordable pricing for SMEs
- + Simple application process
- + Strong local claims support
- + Comprehensive PDPA coverage
Cons
- - Limited coverage for large enterprises
- - Fewer add-on options than competitors
- - Waiting period for some claims
Our Verdict
QBE is an excellent choice for Singapore SMEs looking for affordable, no-frills cyber insurance coverage. Their competitive pricing and strong local support make them ideal for small businesses taking their first steps in cyber protection. For larger enterprises or those needing more comprehensive coverage, consider comparing with Chubb or AXA.
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