Why do We Need Cyber Insurance

As we all can see right now, the internet plays a greater role in our lives and connects the whole world together. The internet usage rate is growing steadily in business, organizations and individuals. When it comes to transactions on the internet, you must be careful and make sure that everything is correct. Because there are frauds everywhere and they might use your information for something illegal or steal from you. That is why you all should have cyber insurance.

What is Cyber Insurance

Cyber insurance is a type of insurance that provides coverage for losses data from cyber attacks or other forms of cybercrime. This insurance typically covers a range of losses including data breaches and network security failures. Cyber insurance can also cover the costs of restoring data and systems, legal fees and regulatory fines..

Why Should You Have Cyber Insurance

Cyber damage is something that should not be underestimated. When the damage is done, it is hard to fix by yourself because the network is quite complex. Therefore, having cyber insurance can save you time and your savings. The cyber threats that Thai people are faced the most are:

1. Scammers on Social Media

Scammers use a variety of tactics on social media platforms such as creating fake profiles, posing as legitimate businesses to scam people to get their money.

2. Phishing Scams

Scammers may create fake login pages or send messages that appear to be from legitimate sources such as banks in order to steal login credentials or other personal sensitive information.

3. Data Theft

The personal information of Thai people has been leaked a lot lately. Most of them are important information such as user account name, password, ID number, telephone number, etc. That causes Thai people to be deceived into doing transactions with fraudsters.

What does Cyber Insurance Cover

Cyber insurance normally provides coverage for lost data from cyber attacks. The coverage can be divided by 2 types which are:

1. Coverage of the insured

Such as data protection coverage, coverage for damage caused by business interruption (for corporate cyber insurance) or blackmail coverage.

2. Related third-party coverage

Such as coverage of damage caused by security breaches, data recovery costs, victim compensation or coverage of damage caused by an organization’s negligence and carelessness.

Cyber Insurance from dSurance.

Cyber threats are now considered to be common and damaging. It is also difficult to track and recover your data by yourself. Cyber insurance can protect you from online crime. Cyber insurance from dSurance is designed to help individuals and organizations to reduce the risks connected with cyber threats, which can cause financial and reputational damage. The coverage will be focused on online theft due to it being the most common cyber threat in Thailand and it matches with people’s lifestyles now when they prefer online shopping than actual shops. The premium starts at only 200 Baht per year* which is pretty low-priced. It is important to carefully review and understand the terms of a policy before purchasing insurance. Those who are interested in this cyber insurance, can visit dSurance website and purchase the insurance that meets your needs the most.

The world is connected by the internet which makes everything easier and more convenient. But that means more ways for scammers to trick people. Precautions are needed in order not to fall a victim. But even though you are careful, scammers will always find new ways. Therefore, cyber insurance can be an important tool to protect yourself against the risks of being deceived and financial damage. It also implements strong cyber security and helps you to make any transactions with no worry.