On 23rd November, 2022, AIIMS, India’s leading medical Institute was a victim of Ransomware attack which led to a shutdown of their systems and all processes had to go manual. It took 2 weeks for the infected systems to come online back again. The attackers had encrypted the data and allegedly demanded Rs200 Crores in […]
Cyber Liability Insurance Policy
What are the First Party and Third Party Coverages in a Cyber Insurance Policy?
Cyber Risk is one of the biggest risks facing organisations today. Data Breach Incidents are becoming increasingly common today driven by rise in number of ransomware and malware cyberattacks. Implementing appropriate Cyber Security and Data Protection measures should be the topmost concern of companies. Along with robust data protection measures, companies should consider purchasing a […]
Cyber Risk Insurance Policy (Key Insights)
Today, a Cyber Risk Insurance Policy is becoming one of the most important policies for businesses. As more and more businesses are moving from physical mode to online, the importance of a Cyber Risk Insurance Policy is also increasing manifold to secure the business from various risks. What is a Cyber Risk Insurance Policy? A […]
What are the exclusions in a Cyber Insurance Policy?
Today, the number and frequency of Cyberattacks are increasing by the day. A Cyber Insurance Policy is an essential tool for a business to protect itself from the losses resulting from Cyberattacks. Business owners should read through Cyber Insurance Policy Wordings thoroughly to understand the Cyber Insurance Coverages Provided by their Cyber Policy. Additionally, they should also read […]
Different Types of Cyberattacks and Role of Cyber Insurance Policy: A Primer
Today Cyberattacks are on the rise in every country. The frequency and magnitude of losses due to Cyberattacks is also increasing by the year. Cybersecurity has emerged as one of the top concerns facing businesses globally. In such a scenario, CEOs should be aware of different types of Cyberattacks and the role of Cyber Insurance […]
What is the Cost of a Cyber Insurance Policy?
Today, new Cyberthreats are emerging daily. Most businesses, small and big, have been subject to Cyberattacks in the last few years. Today, most businesses have an online presence making them more susceptible to Cyberattacks. The cost of data breach incidents has also increased exponentially. As per an IBM Study, the average cost of a data […]
Cyber Liability Insurance Policy: Trends and Statistics
Today Cybercrimes is emerging as one of the top risks faced by companies globally. Confidential Data of millions of customers have been leaked online. A Study by Ponemon Institute in 2020 estimated that the cost of a data breach incident reached $3.83 million. This cost of data breach incidents has been rising in the recent […]