Posts

Cyber Risk Insurance ! Why It is important for Financial Institutions?

  Cyber Risk Insurance: Cyber Risk Insurance, also known as cyber insurance or cybersecurity insurance, is a specialized insurance product designed to protect businesses from financial losses and liabilities arising from cyber incidents, such as data breaches, cyberattacks, or system failures. For businesses operating websites, especially in Pakistan where digital adoption is growing rapidly, this coverage is critical to safeguard against the increasing threat of cybercrime. Why Cyber Risk Insurance Necessary For Financial Institutions: High-Value Data Exposure:  Financial institutions manage sensitive information, including customer bank details, credit card numbers, and personal identification data. A data breach could lead to significant financial losses and identity theft. Example: A 2023 FIA report noted a 30% rise in cyberattacks in Pakistan, with financial institutions frequently targeted for customer data theft. Regulatory Compliance and Penalties:  Pakistan’s Pre...

Indemnifier Insurance Broker - Introduction

  Indemnifier Insurance Broker (IIB) Private Limited (Introduction) IIB (Pvt.) Ltd.  is SECP licensed insurance broker incorporated in year 2016 and providing exclusive insurance solutions to financial institutions in Pakistan.  The aim of IIB was to bring innovation in insurance market by   bringing novice insurance products for financial lines, retailers and individuals in need. IIB took the mission to educate the customers to reduce the gap of insurance knowledge between service provider and end-user. We are providing pre-risk survey assessments for better coverage and for optimal indemnification in case of unforeseen event. We are dealing with all classes of conventional and takaful products. Please feel free to contact our insurance experts for  Fire & Allied Perils Insurance Auto Insurance (Private & Commercial) Agriculture Insurance Livestock Insurance Liability Insurance Financial Lines Insurance Marine Insurance Head Office: 2nd floor, Office N...