What is cyber insurance and why you need it; Here’s all you need to know

With the higher use of digital platforms, cybercrime is growing at an increasing rate. According to experts, the domestic cyber insurance market is slowly gaining traction, with India bracketed alongside the US and China as among the world’s most cyber attack-prone countries. A recent joint study by Marsh-RIMS states that large-scale cyber-attacks, and massive incidents of data theft are some of the top risks in India. These findings represent the increased risk posed to valuable digital assets by cybercriminals, and subsequently the increasing need for cyber insurance.

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