Understanding Cyber insurance: Key points to know
Cyber insurance explained: In today's digital landscape, cyber insurance serves as an essential protective measure, offering coverage against various online threats. This specialised insurance safeguards by covering expenses related to cyber incidents, including data breaches and ransomware attacks.
The policy encompasses critical aspects such as litigation expenses, system restoration costs and reputational harm management. Given the rising frequency of digital threats, organisations across industries and scales find cyber insurance indispensable for their risk management strategy.
Cyber Insurance: Key Points
Cyber insurance represents a protective agreement where insurers safeguard organisations and individuals from financial damages caused by digital crimes.
As cyber attacks grow more complex and frequent, such protection has become crucial for both commercial enterprises and private citizens.
The coverage encompasses direct financial impacts, including costs associated with operational disruptions, system restoration and monitoring of credit activities.
The policy extends to cover external liabilities, such as legal expenses stemming from data violations, reputational harm, breaches of intellectual property and associated litigation.
Numerous
insurance providers
now present diverse coverage options tailored for personal, household and corporate protection against
digital security risks
.
With inputs from Centre for Investment Education and Learning content which appeared in Economic Times
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
44 minutes ago
- Time of India
PM Modi promises big Diwali gift! GST reforms to lower tax burden for common man soon; here's what he said in Independence Day speech
PM Modi promised a Diwali gift for people in the form of GST reforms and lower tax burden. (AI image) In a big cheer for the middle class and common man, Prime Minister Narendra Modi on Friday announced upcoming Goods and Services Tax (GST) reforms. Speaking from Red Fort on the occasion of the 79th Independence Day , PM Modi promised a Diwali gift for people in the form of GST reforms and lower tax burden. "This Diwali, I am going to make it a double Diwali for you... Over the past eight years, we have undertaken a major reform in GST... We are bringing next-generation GST reforms. This will reduce the tax burden across the country,' he said. Also Check | PM Modi's Independence Day speech Live Updates Meanwhile, in the midst of discussions about reducing GST for various products, a group of state ministers, led by Bihar's Deputy Chief Minister Samrat Chaudhary, is scheduled to meet next week. Some members of the GoM, particularly those from the Opposition, have recommended keeping the current slabs and rates unchanged due to concerns about potential negative effects on revenue. However, the government has already done considerable work on this issue. Another group of state ministers is also addressing the matter of applying lower or zero GST on health and term life insurance, where there is less resistance, and a decision is expected soon. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 11 Foods That Help In Healing Knee Pain Naturally Undo In the coming weeks, the government and states are anticipated to collaborate on overhauling the eight-year-old tax system, including revising the cess, which could help offset some potential revenue losses for the states. Next-generation GST reforms: What to expect? In July, it was reported that the Prime Minister's Office (PMO) has given preliminary approval for a major restructuring of the GST system. The most notable change for the common man could be the potential adjustment of GST rates , with items currently taxed at 12% possibly moving to the 5% category, according to an ET report. The existing GST system includes five tax rates: nil, 5%, 12%, 18%, and 28%, along with special rates of 0.25% and 3% for precious metals. About 21% of goods are currently taxed at 5%. The 12% rate applies to 19% of items, while 44% fall under the 18% rate. Only 3% of items are taxed at the highest rate of 28%. An additional compensation cess is levied on certain luxury and harmful products, like cigarettes and automobiles, in the 28% bracket. This cess was introduced to shield states from potential revenue losses during the GST transition for five years until June 2022. The duration was extended to March 31, 2026, to repay the ₹2.69 lakh crore debt the Centre incurred for states during the Covid crisis to cover the cess fund shortfall. Authorities are considering removing the 12% rate and reallocating these items to the 5% and 18% categories, the report said. The timing for restructuring is favorable as tax systems have stabilized and economic indicators are strong. With upcoming free trade agreements with developed countries, the government seeks to eliminate barriers that could hinder the growth of domestic industries. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
an hour ago
- Time of India
Independence Day 2025: Zomato announces free delivery on these orders
Independence Day celebrations are underway across the country. Food delivery platform Zomato has kicked in the celebrations by announcing free delivery on select orders. As revealed by the company and now live on Zomato app, Gold members will get free delivery on orders above Rs 99, which was earlier Rs 199. In addition, Zomato Gold membership is available for Re 1. Zomato's Independence Day offer is live from August 14 to 17. 'By lowering the free delivery threshold for our Zomato Gold members, we aim to make online ordering more rewarding—encouraging customers to enjoy everyday meals while discovering more restaurants,' Aditya Mangla, chief executive of food delivery business Eternal told Economic times. 'This change not only offers greater value to our Gold members but also supports our restaurant partners during this important time of year,' he added. Earlier this month, Zomato CEO Deepinder Goyal urged India to embrace its potential and become a global superpower following US tariff hikes. His call for self-reliance and ambition resonated widely, sparking discussions on economic reforms and strategic independence. The focus shifted towards strengthening local manufacturing, improving trade policies, and leveraging underutilized sectors like tourism to reduce reliance on external forces. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Singaporeans Are Unaware Of This Little-Known Benefit senior insurance | Search Ads Undo In his statement, Goyal noted that such global "reminders" happen regularly — 'a threat here, a tariff there' — all reinforcing the idea that India should "stay in its lane." But instead of reacting with resentment, he urged Indians to respond with ambition. He argued that the only path forward is for India to unapologetically become the largest superpower, not only economically, but also in defense, technology, and self-belief. The sentiment resonated widely, sparking a wave of support across X. One user commented, 'It's not about retaliation, it's about evolution.' Another said, 'We've been modest for too long. It's time to lead.' Goyal's post was hailed for framing ambition itself as a strategic imperative, an economic philosophy rooted not in dependence or appeasement, but in self-determination. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
3 hours ago
- Economic Times
Virgo Horoscope Today, 15th August 2025: Precision and patience pave the path forward
Synopsis Virgo Horoscope Today, 15th August 2025: The Moon will be in the Aries sign. Mars is in your sign, Virgo. You are feeling a surge of motivation to act decisively. Saturn is retrograde in the Pisces sign. This reminds you to balance this drive with thoughtfulness, especially in relationships and commitments. Today favours structured action over impulsive choices. ET Online Virgo Horoscope Today: Precision and patience pave the path forward Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
