Cyber insurance is a necessity as reliance on online medium increases

With the lockdown rendering face-to-face business transactions impossible, reliance on the online medium has increased multi-fold. The risk of falling prey to cybercrimes has also risen proportionately. But cyber insurance can protect you against online frauds, and in fact, against any loss or damage that may arise due to the unauthorised disclosure or theft of personal and financial data online. 

As Prashant Mali, president and founder, Cyber Law Consulting, says: “Cyber insurance is the best risk management instrument one can buy in these times. The world is transacting its business virtually, and the only crimes that are happening are cybercrimes.”