Cyber Insurance- Just as the cases of cyber crime are continuously increasing in the country, the need for cyber insurance is also increasing at an equally rapid pace. This is important not only for individuals but also for companies to avoid cyber attacks.
New Delhi. The prevalence of digital transactions and social media has increased rapidly in the country. For this reason, financial and personal information has also become very important today. The incidents of their leaking and online financial fraud have also increased.
Cyber insurance is very useful in protecting against cyber crime and compensating for losses. Therefore, today it has become very important to take cyber insurance along with health and life insurance. In this insurance policy, the policy holder is covered against various types of cyber crimes and frauds.
If you have cyber insurance, then someone steals your hard-earned money online or does online shopping fraudulently from your bank account, credit/debit card or your e-wallet. So the insurance company compensates for it. The insurance company also compensates for the loss caused by cyber crimes like phishing and email spoofing. Cyber insurance reduces your financial risk in case of recovery from any cyber fraud, data theft, cyber attack, ransomware attack and blackmailing.
Keep these things in mind
While taking cyber insurance, one should understand the plan offered by the company very well. You should know what is covered in the policy. Generally, cyber insurance policies provide protection against 10 to 15 types of cyber threats.
limit as per requirement
The limit of insurance cover should be chosen keeping in mind how important your cyber security is to you. If you do a lot of online transactions then you will need a higher limit. Insurance companies offer coverage ranging from Rs 50 thousand to Rs 1 crore.
Don’t fall prey to low premiums
Many companies impose conditions for the deductible. In this, the policyholder has to first compensate for the loss himself and then the insurance companies make the payment. Many companies have low premiums, but high deductibles. Experts say that even if a higher premium has to be paid, the deductible should be kept low.
