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Cyber Insurance
Jul 21, 2020

What is the Importance of Cyber Security

Cyber security is the practice of protecting your computers, laptops, servers, smartphones, other electronic devices, network, software, and system data from any malicious attacks and cyber threats.

Important elements of cyber security

Following are the important elements of cyber security:

  • Application security: This element aims to protect the applications and software on your system from harmful cyber-attacks. The applications on your system are susceptible to malicious attacks if stronger development practices are not followed in the design, coding and publishing of a software.
  • Information security: This element focusses on protecting your private data (digital and non-digital) that might either be stored on your system, being shared between systems/appsor when it is being processed.
  • Network security: This element of cyber security encompasses tools to protect your computer network from unauthorized access and misuse.
  • Operational security: It is also known as procedural security. It is the process to identify and protect your sensitive information against any potential threats.
  • Disaster recovery: This is the process to recover any lost or corrupted data. This element can also restores the operations in order to retain business continuity.
  • End-user education: People who use computers and other electronic devices should be educated about the best security practices and measures to curb cyber-attacks.

Importance of cyber security

Use of computers and smart phones has increased manifold in the past decade. Everything you do today is in some way or the other is dependent on internet or electronic devices. While the innovation of cyber space and internet is the best thing since sliced bread, the devil is in the details.

Cyber-attacks are on the rise with the growing use of internet in the technologically driven world. The hackers and cyber criminals are shrewd enough to identify loopholes in your cyber security measures and launch cyber-attacks. Therefore, you should always have the top cyber security measures in place to ensure that you are safe while being online.

In this digital era, your data is your most valuable as well as the most vulnerable asset. Your online transactions, your emails, your personal & financial details are all very crucial pieces of information that cyber criminals are looking to exploit.

Cyber-crime has spread its roots and now not only businesses but individuals are also under a constant threat of cyber-attacks. Thus, it is high time that individuals should also invest in cyber security along with cyber insurance.

Cyber security is important for individuals because:

  • Cyber-attackers can cause a huge financial damage by targeting you via cyber-attacks such as IT theft, phishing, email spoofing and cyber extortion. By having cyber security in place, you can dodge these attacks and safeguard your finances.
  • With cyber security measures in place, you can identify and respond to malicious acts before it causes any disruptions.
  • With an advancement in technology, hackers have also adopted new and savage ways to launch cyber-attacks. Thus, you should also equip your systems accordingly by implementing cyber security practices to protect them.
  • Having a proper cyber insurance coverage is becoming more crucial today because the number of cyber-crimes are increasing rapidly every year.

You can strengthen the security of the system by implementing the best cyber security practices along with opting for an adequate cyber insurance policy.

We at Bajaj Allianz offer India's first Cyber Safe Insurance Policy for individuals with hassle free insurance claims. This policy safeguards your finances in case you become the victim of harmful cyber-attacks. This policy covers you for 10 potential cyber threats. You can visit our website to buy and get more details about this insurance policy.

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