We are living today in an era of a digital world where we have to depend on internet for our businesses and livelihood. Technology, social media, and online transactions play a key role in establishing online businesses. We put our all data and identities on web and do our best to protect data. From running online mega businesses to paying household bills all things are done on internet. So when internet is providing you comfort at home then it can also harm you by stealing or using your data or information. The thing is that the internet security is not an easy thing to do. Our digital landscape is rife with all kinds of malware, brute-force botnets, and plenty of nasty hacks. Today when artificial intelligent (AI) and machine learning (ML) technologies are emerging then cybercriminals or hackers become smarter and attacking personal identities and businesses using these technologies.
To overcome cybercrimes, cyber insurance has been around for more than 10 years. It is a sub-category of insurance that covers and protects Individuals and businesses against internet liabilities. Cyber insurance is provided by different marine cargo insurance quote to businesses. We have prepared a list of top cyber insurance companies including AIG, Hiscox, Marsh, Chobb, CAN, Liberty mutual, Lloyd’s of London and Willis Towers Watson. Three of these companies are discussed below
AIG is concerned to provide its customer end-to-end protection, services to regain stability of data breach and providing loss prevention tools. The name AIG has been associated with cyber insurance for a long time and the strength of this company lies in the fact that it almost covers 22% of the finest cyber insurance companies. This organization has also defined a multidimensional attitude that the data protection is not everything, and there many other risks that should be considered.
Hiscox is another cyber insurance company that not only provides business insurance but it also gives insurance on a personal basis. Hiscox also covers an area like a human failure in form of employee’s negligence. Hiscox also claims to be well suited to different areas like telecoms, accountancy, law, construction, and technology. Hiscox also marks the most important point that cybersecurity should be a top priority for all sizes of business because of the fact that no one can guarantee definite safety from hackers.
Marsh is a leading company in insurance broker and risk management applying a five-phase proven approach, prevention, preparation, response, assessment, and remediation. Like AIG, Marsh provides end-to-end approach to cyber insurance and also realizing the complication of cyber risk. Marsh has got new tools used to ensure cyber risk and use them to see how well you are managing the risk. Marsh defines risks for the company and develops an effective cyber risk management system for the company.