As per a report, in the first 9 months of 2020, India lost nearly $6 trillion due to rampant cybercrimes. Therefore, it is undoubtedly a high time to take the aspect of cyber security seriously. India is implementing several measures to prevent these threats. Still, individuals need to look for the best available option to protect themselves against these cyber attacks.
In this regard, a cyber security insurance policy proves to be beneficial, covering the expenses if one falls prey to such virtual threats. Nevertheless, first, individuals need to know the meaning of cyber security and its major types.
Types of cyber security
Over the years, hackers invented new techniques to invade the strongest security protocols. Simultaneously, cyber security also has evolved drastically to block such threats to a considerable extent.
Following are some of the most common types of cyber protection that are available right now.
- Network security
This security system deals with the outside threats and prevents intrusion of unauthorised malicious access to the internal network. In order to make this system even more effective and full-proof, most network administrations are also employing technologies and machine learning for this purpose. Whenever it detects any stream of suspicious traffic, it flags and alerts in real time. These administrations are also implanting new policies and techniques to inhibit authorised access.
Nevertheless, to be on the safer side, individuals can financially protect themselves with a cyber-security insurance cover as well. For instance, Cyber Security Cover offered by Bajaj Finserv under Pocket Insurance & Subscriptions is one such example. This cyber security insurance policy safeguards users against financial fraud and any potential cyber-attacks.
- Application security
This security system is essential for individuals as it blocks the cyber threats through a dedicated application. It generally uses software and hardware function that are capable of tackling external threats. Typically, antivirus programs, firewalls, etc. fall under this category. A cyber insurance policy proves to be beneficial if this system fails.
- Information security
It ensures the integrity of sensitive data in the storage of a system and also in transit. Enabling this system, users can keep their vulnerable data more secure from any cyber threat. This information can be anything in nature – personal or financial. This system can detect valuable information and thus uses a specific, more robust algorithm to protect such data.
Nevertheless, for added security, individuals can opt for a wallet care plan that provides complimentary fraud protection along with other attractive facilities.
- Operational security
On the operation level, users need to be careful while handling sensitive data and storing them on systems as well. In this regard, they should be cautious while giving permission or allowing a third-party to access the data on a device.
Even after taking all precautions, fraudsters may intrude their system and use the information to make unauthorised transactions or steal personal identifying information. In such cases, fraudulent charges cover is all they need that will cover the expenses of such transactions and financial loss.
This cyber security insurance policy also helps in blocking payment cards instantly to prevent further loss.
- Cloud security
The advancement of technology has shaped the way of storing data and information. Cloud storage is one of the ways to store data virtually. It is a software-based security system that minimizes the security breaches to a great extent and helps better management of the data on cloud storage.
Besides knowing about all these cyber security measures, end-users also need to be more aware of these facts to avoid any potential cyber threat. Moreover, they also should invest in any reliable and useful cyber security cover to keep themselves financially secure.