Cyber Insurance – A Risk Mitigation Tool for Cyber Risk in India

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R. Raghavan

Abstract

The disruptions in cyberspace, can emanate from both natural events as well as through human accidental and intentional interventions. These man-made cyberspace disruptions are more onerous, and are occurring with increasingly alarming frequency, intensity and viciousness.


The ‘e-space’ ecosystem in India has undergone humongous transformation during the last few decades. This paradigm shift demands that platforms on which these are built are tamperproof, and the user-edifices that control them, should be citizen-friendly, user-transparent and free of all types of vulnerabilities, any of which, if overlooked or mutualized, will portend enormous credibility crises having, financial social and ethical consequences particularly in a democracy.


This paper is an attempt to trace the vulnerability of India and her citizens to cyber-crime, explore the potential effects, and examine whether the risk of cyber-crime can be managed reasonably, with the insurance as an effective Risk Transfer Medium, inter alia, with various Public-Private Partnership measures to combat this ever-present threat.

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How to Cite
Raghavan, R. (2018). Cyber Insurance – A Risk Mitigation Tool for Cyber Risk in India. Bimaquest, 18(1). Retrieved from http://www.bimaquest.niapune.org.in/index.php/bimaquest/article/view/17
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