Cyber Insurance | Coverage, Companies, and Importance in the Face of Increasing Cyber Threats
"Security is not a product, but a process. It's not about the technology, but about the people who use it." - Bruce Schneier Cyber insurance is becoming an increasingly important type of insurance as the country continues to experience a growing number of cyber attacks. According to a report by the Data Security Council of India, the number of reported cyber incidents in the country increased by 44% in 2020. Cyber insurance policies in India typically provide coverage for a range of losses, including data breaches, business interruption, network damage, extortion, and liability. For example, a cyber insurance policy may cover the costs of investigating a data breach, notifying affected individuals, providing credit monitoring services, and defending against legal claims. Several insurance companies in India are offering cyber insurance policies to individuals and businesses. Some of the prominent companies offering cyber insurance in India include: HDFC Ergo: HDFC Ergo ...