gs1medium
In India, under cyber insurances for individuals, which of the following benefits are generally covered, in addition to payment for the loss of funds and other benefits?
- 1.Cost of restoration of the computer system in case of malware disrupting access to one’s computer.
- 2.Cost of a new computer if some miscreant wilfully damages it, if proved so.
- 3.Cost of hiring a specialized consultant to minimize the loss in case of cyber extortion.
- 4.Cost of defence in the court of law if any third-party files a suit.
Select the correct answer using the code given below:
- A.1, 2 and 4 only
- B.1, 3 and 4 only
- C.2 and 3 only
- D.1, 2, 3 and 4
▶ Answer & Explanation
Correct answer: B. 1, 3 and 4 only
Cyber insurance policies typically cover expenses related to recovering from cyber incidents. This includes the cost of restoring damaged systems due to malware, hiring experts to mitigate losses from extortion attempts, and legal defense costs if facing lawsuits from affected third parties. Coverage for wilful damage to hardware is usually part of a separate home contents or gadget insurance, not standard cyber insurance for individuals.
Source: UPSC gs1 2020