What is Cyber Liability Insurance?

A cyber liability insurance helps an organisation mitigate the financial loss to business due to data breach or any cyber risk. It also covers for legal costs and damages resulting from the data breach.

Also called as “Cyber Security insurance” or “Cyber risk Insurance” this is an insurance policy that pays for both first and third party losses as a result of a computer-based attack or malfunction of information technology systems of any business.

India, has now become a major victim of cybersecurity attacks. According to a CyberPeace Foundation report (CPF), startups and SMEs in India are the most vulnerable segment when it comes to cyberattacks.