As cyberattacks rise, cyber insurance a small price to pay for protection

Annual premiums do not exceed what you readily shell out for an OTT subscription

Cyberattacks have increased manifold, according to India's national cybersecurity coordinator, Lt Gen (Retd) Rajesh Pant, as reported by this paper last week. Every day around 400,000 malwares are found and 375 cyberattacks witnessed. As cyberattacks rise and insurers see a surge in claims, premiums on cyber insurance covers have risen nearly 20 per cent for corporates in recent times.
 
Experts say the situation has turned alarming and one needs to pay greater attention to cybersecurity. Naval Goel, chief executive officer, PolicyX, says, “People need to secure their data as cybercriminals have turned hyperactive.” Due to the lockdown, people have