Cyber InsurancFrom online shopping to smart homes to get cover in cyber insurance, the risk of cyber risk to increase

New Delhi| In today’s hyper-connected world where mobile, internet banking, social media and e-commerce are dominating our lives, the need for strong cyber insurance has increased. The more time we spend online, the more personal data is generated, transmitted, and stored on various digital devices. The continuous growth and complexity of this data has given rise to many cyber risks. If this is not taken into account, they prove to be financially and emotionally dangerous. Therefore, the importance of cyber insurance has increased in the digital age, which gives us security cover on various fronts.

Renewal discount as per requirement
Cyber insurance is essential, as it helps companies and individuals reduce the risk associated with data theft, malware attacks and other fraud incidents. This security has no longer become a luxury, but a necessity for everyone who depends on digital infrastructure. Cyber insurance policies are currently offered on an annual basis, allowing coverage to be renewed as per needs.

There is security on these fronts in a comprehensive policy
Online Sale: This policy covers losses incurred on selling goods online, in which buyers defraud the insured sales person (seller) by not making payment.

Digital Fraud: The policy covers financial loss caused due to theft of money by breaking into the insured’s bank account or mobile wallets or through phishing/email spoofing.

Online Shopping: If you make payment by purchasing any item from a third party through payment card, mobile wallet, netbanking etc. on the internet, which is not delivered later, then this loss is also covered in this comprehensive policy.

Connected Vehicle Cover: This is optional coverage, which covers damage to digital devices installed in connected vehicles (carriages with internet connectivity and advanced technology features).

Smart Home Cover: Covers expenses incurred on repairing or restoring data of smart home devices (Internet connected devices, security systems or home automation systems) after cyber incidents. The insurance company reimburses these expenses.

Helpful in providing financial and mental security
As our dependence on digital technology increases, the importance of cyber insurance is also increasing. In an era where personal data has become the most valuable commodity, buying cyber insurance is not only a wise option but has also become a universal need for individuals and families. Also provides financial and mental security.