Who Needs Cyber Safe Insurance ?
Every individual or organization is highly prone to cyber-attack/incidents such as- data alteration/deletion, cyber extortion for ransom from database encryption, network lockdown, system failure, system encryption, service unavailable, unauthorised access, fraudulent fund transfer and many more. Therefore, it is extremely necessary that the person or corporate sector should adopt this practice for insuring their cyber security regardless of the size of an organization. Besides, a cyber attack can result in data exploitation involving highly sensitive customer information, employees data, business or contract details, financial information, shareholders information and other important data. The insurance also pays for the costs incurred in restoration of such data or a legal liability arising out of a third party personal information being misused or leaked.