Zurich Cyber Insurance Singapore Review 2025
Last updated: November 2024
Overview
Zurich Insurance is a Swiss-headquartered global insurer with specialized cyber insurance products designed for technology companies. In Singapore, they're known for their comprehensive coverage, particularly for IT firms, software developers, and tech startups dealing with sensitive data and intellectual property.
Key Coverage Features
- Technology E&O: Errors and omissions coverage specifically for tech products and services
- IP Protection: Coverage for intellectual property infringement claims
- System Failure: Coverage for non-malicious system failures and outages
- Cloud Coverage: Protection for cloud service interruptions and data loss
- 24/7 Incident Response: Round-the-clock access to cyber security experts
Pricing
| Business Size | Coverage Limit | Annual Premium |
|---|---|---|
| Startup (1-20) | $500,000 | $1,200 - $2,000 |
| Scale-up (21-100) | $1,000,000 | $2,500 - $5,000 |
| Enterprise (100+) | $5,000,000+ | $7,000 - $15,000+ |
Pros & Cons
Pros
- + Specialized tech industry coverage
- + Excellent 24/7 incident response
- + Strong global claims network
- + Technology E&O included
- + Cloud and SaaS coverage
Cons
- - Higher premiums than basic options
- - More complex application process
- - May be overkill for non-tech SMEs
Who Should Choose Zurich?
Zurich cyber insurance is ideal for:
- Software development companies
- IT service providers and MSPs
- SaaS and cloud platform businesses
- Fintech and healthtech startups
- Companies handling large volumes of customer data
Our Verdict
Zurich stands out as the go-to choice for technology companies in Singapore. Their specialized coverage for tech E&O, intellectual property, and cloud services makes them particularly valuable for IT firms. While premiums are higher than basic options like QBE, the comprehensive coverage and excellent claims support justify the cost for tech businesses with significant cyber risk exposure.
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