Latest News
-
25% Dividend Record Date: Logistic Stock Nears 1-Year High And It Belongs To Mahindra; Motilal Neutral -
1:10 Split, 26 Dividends: Tata's 26-Year-Old Retail Stock In Focus, Q4, Dividend Ahead; Buy For Target Rs 4200 -
1:5 Split Soon: Rs 2,300 Defence Stock To Split Into Five Shares, Rs 400 Cr Fundraising Too; Hits 52-Week High -
Penny Stock Bags Back-To-Back Orders Worth Rs 500 Mn, 110 Mn; Shares Hit Upper Circuit -
Marshall Wace Offloads Stakes in 21 Indian Companies for Rs 2,365 Crore -
Rishi Sunak Announces Generational Hike in UK Defence Spending -
Dr Reddy's Issues Recall for Six Drug Lots in US Over Subpotency Concerns -
Dr Reddy's Voluntarily Recalls Six Drug Lots in US Over Potency Concerns -
IRCON, RITES: 2 Multibagger Navratna Railway Stocks Potential To 17-24% Upside Ahead; Assigned BUY Rating -
AU Small Finance Bank Unveils New Products Including Rupay Credit Card
Cyber Insurance In India: Know All About It
The cyber insurance in India is yet to gain pace with the changing times and more and more Internet penetration.
Cyber insurance, an insurance product protects individuals and businesses from Internet-based risks and in general from risks associated with information technology infrastructure or activities. In general such a policy extends coverage for losses that include data destruction, theft, hacking, extortion in addition to some other advantages that include security-audit, criminal reward fund and expenses incurred towards post-incident public relations or investigations.
In a first of its kind, recently private sector insurer Bajaj Allianz has come up with a unique Cyber protection policy plan for individuals. Though customised cyber liability covers for businesses existed for quite some now. The policy titled Bajaj Allianz Individual Cyber Safe' is aimed at increasing and improving the comfort level among e-commerce and individual internet users.
Eligibility: An individual aged 18 years and above who uses Internet on computer or other digital devices can buy the cyber attack insurance plan at an affordable cost. The sum assured for the policy can be anywhere between Rs 1 lakh to Rs 1 crore.
Premium schedule for the policy still has not been disclosed by the company. According to officials the rate will vary depending on the number of hours the individual spends online. "The premium will be in a broad range," said Singhel- MD and CEO of Bajaj Allianz General Insurance.
Coverage and Benefits extended: Overall the protection shall be extended in respect of various cyber risks that include malware attack, identity theft, IT theft loss, e-mail spoofing, cyber extortion, phishing and cyber stalking. The policy shall also compensate for financial loss due to reinstallation or retrieval of data, restoration cost incurred due to the entry of malware in the computer program.
The coverage shall also be extended for prosecution and defence cost per se identity theft, transportation cost incurred in respect of attending summons from court, counselling services or claim for damage for data breach and privacy breach against third party.
Goodreturns.in
