If a company sponsors a retirement or health plan for its employees, then the person involved anyway with the management of that plan, is considered a fiduciary. A fiduciary is held personally liable for a breach of his fiduciary duties. For many businesses, offering an employee benefit plan is a way to retain and retain […]
What are the different types of losses covered by cyber risk insurance?
What are the different types of losses covered by cyber risk insurance? Cyber risk insurance covers losses relating to damage or loss of information from an establishment’s systems and networks. These policies include all kinds of assistance in managing such incidents. So, it is essential to understand if the policy covers only first-party risks or […]
Types of cyber risks modern Indian businesses face
Types of cyber risks modern Indian businesses face : 2014, Gujarat Deepak Nitrate, a listed company in BSE with a net worth of around Rs 1,500 crore, fails to get payment for a consignment sent to a client in the US. Upon inquiry, it turns out they had deposited the money in a new account […]
What are the common exclusions of cyber risk insurance?
The uptake of cyber insurance policies has grown rapidly due to the constant threat of hacking and cyber-attacks on an organization’s database. Those buying and claiming the cyber policy should know what it covers. Assessing the exclusions in the cyber risk insurance policy is difficult as it is relatively new. Common exclusions in cyber risk […]
What does a cyber insurance policy cover?
A cyber insurance policy helps organisations to mitigate the risks related to a cybersecurity breach. This policy offsets costs involved in recovering from a malware attack or a similar event. Organisations can’t guarantee 100% security even after deploying the best cybersecurity protocols. Therefore, businesses should buy a cyber insurance policy. The rise in cyber-crimes […]
Cyber insurance: Everything you need to know
Virtual is the new way of life. Individuals and corporations have moved online for even the most basic activities — be it news, entertainment, health, or shopping which has resulted in the increased importance of cyber risk insurance in India. Online modes have also come into the picture for purposes of communication and the exchange […]