MUMBAI: Are you afraid to truly express yourself on Facebook or Twitter because somebody might file a libel suit seeking a big amount in damages? The company is in the process of designing the individual cyber cover that would be similar to existing cyber insurance covers for corporates.Insurers see demand for cyber covers for individuals that will protect their reputation, data breaches and losses in case any vital personal, financial or sensitive information is stolen. It protects corporates against privacy and data breach, network security claims, and media liability.Insurance companies are seeing increase in corporates buying cyber cover. It is close to 7% to 10% of the liability market. Insurers expect cyber liability to be a significant share in the total liability insurance pie in the coming three years.

Source: Economic Times October 17, 2016 02:48 UTC