Role of Cyber Insurance in India to Protect Cyber Theft: A Socio-Legal Study

Authors

DOI:

https://doi.org/10.53724/jmsg/v8n1.03

Keywords:

Role of Cyber Insurance, Need of cyber Insurance, cyber threats, Types of Cyber insurance, Merits and Demerits of Cyber Insurance, Socio-Legal study, Awarness of cyber insurance, awareness of cyber crimes

Abstract

Cyber insurance can help protect your business from potential cyber threats. With the right cyber insurance, you can protect yourself and your data from potential damage. Here are some tips to help you choose the right cyber insurance policy- Check the cyber risk associated with your business. Make sure that the cyber risks your business faces are realistic and not exaggerated. Look at the cyber insurance policies available. There are many cyber insurance policies available, so make sure to compare prices and policies to find the best deal for your business. Choose the right cyber insurance policy for your business. Make sure to choose a policy that covers all of your cyber needs, including data loss, cyber theft, and third-party cyber-attacks. Get a policy that covers your business’s entire staff. A policy that covers your entire staff can help protect your data and business from potential cyber threats. Get a policy that has generous coverage. A policy that has generous coverage will protect your business from potential cyber threats, even if they are not specifically covered in the policy. Get a policy that is easy to use. A policy that is easy to use will help you understand the policy and make sure you are getting security.

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References

Steve Morgan- Editor-in-Chief: Cybercrime Costs. PHOTO: Cybercrime Magazine, Cybercrime To Cost The World $10.5 Trillion Annually By 2025, Published on 13th Nov. 2020, Last Seen on 30th April 2022, https://cybersecurityventures.com/cybercrime-damages-6-trillion-by-2021/

Cyber insurance: https://cyberinsureone.com/types/ (Last seen 20th April 2022)

Third-party cyber liability insurance: published on 29th April 2022,https://www.insureon.com/insurance-glossary/cyber-liability-third-party (Last seen 01st May 2022)

IRDA: Guidelines on Information and Cyber Security for Insurers, Letter date: 07/04/2017, https://www.irdai.gov.in/ADMINCMS/cms/Uploadedfiles/07.04.2017Guidelines%20on%20Information%20and%20Cyber%20Security%20for%20insurers.pdf (Last Seen 05th April 2022).

Published

30-07-2022

How to Cite

Ramdas Gautam, & Dr. Vinod Kankar. (2022). Role of Cyber Insurance in India to Protect Cyber Theft: A Socio-Legal Study. Jai Maa Saraswati Gyandayini An International Multidisciplinary E-Journal, 8(I), 06–09. https://doi.org/10.53724/jmsg/v8n1.03

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