Prelims 2020 · Science and Technology · Question 90
In India, under cyber insurance for individuals, which of the following benefits are generally covered, in addition to payment for the loss of funds and other benefits?
- Cost of restoration of the computer system in case of malware disrupting access to one's computer
- Cost of a new computer if some miscreant wilfully damages it, if proved so
- Cost of hiring a specialized consultant to minimize the loss in case of cyber extortion
- Cost of defence in the Court of Law if any third party files a suit.
Select the correct answer using the code given below:
Answer
1, 3 and 4 only
1. Cost of restoration of the computer system — Generally covered in individual cyber insurance as expenses for data/system restoration after malware or cyberattack. Verdict: Correct.
2. Cost of a new computer if wilfully damaged by a miscreant — Physical damage to hardware is usually covered under standard property/electronic equipment insurance, not under cyber insurance meant for digital risks. Verdict: Incorrect.
3. Cost of hiring a specialized consultant in case of cyber extortion — Cyber insurance commonly covers expert/consultant costs for cyber extortion response and loss minimization. Verdict: Correct.
4. Cost of defence in Court if a third party files a suit — Liability/legal defence costs are a standard component of many cyber insurance policies. Verdict: Correct.
Hence, 1, 3 and 4 only are generally covered.