Due to social media - data brokers, cybercriminals, fraudsters, and identity thieves, today have an incredibly easy time achieving their objectives. The term data brokers or information brokers refer to the companies that collect and acquire data from a variety of public sources as well as other businesses. In most cases, data brokers do not interact directly with the individuals about whom they gather data. Because of this, most people do not realise that data brokers are collecting personal information about them. Well, in case your personal data gets misused, obtaining a personal cyber insurance policy can be very beneficial for an individual. 

We at Raghnall offer personal cyber insurance solutions that protect you financially from data brokers, cyber-attacks such as identity theft, phishing, email spoofing, IT theft losses, etc. Increasing digital empowerment exposes people to cyber threats and can also result in losses of large sums of money. The importance of having cyber insurance cannot be overstated.

A data broker has thousands of entry points to cause damage to your life and finances. Almost all electronic devices, including computers, phones, gaming systems, and smart home devices, are potentially vulnerable to cyberattacks that may result in fraudulent charges or take your identity that they can sell later for their benefit. 

An Overview of How a Personal Cyber Insurance Policy Can Help You if Your Data Gets Misused by Data Brokers

  • Provides financial protection

Today, almost everyone uses the internet for making payments, transferring money, doing online shopping, reading blogs and articles, and browsing social media. The amount of data available online makes it possible for data brokers to exploit it and commit crimes, frauds, and thereby putting you at risk. In the event of a cyberattack or data breach, you may suffer significant financial losses, including the costly process of regaining your identity or recovering your lost data. These expenses can be covered by personal cyber insurance, helping to mitigate your financial risk. 

  • IT consultant services

You may need assistance after experiencing a cyber-attack to assess your losses and uncover the source of the loss. It is possible to get this assistance from an IT consultant, whose expenses will also be covered. With Raghnall, the top risk advisor and insurance broker in Mumbai, you can find and buy the best personal cyber liability insurance plan for yourself.

  • Counselling services to the policy holder

Stress, hypertension, or other medical conditions can result from being the victim of a cyber-attack. In case you are under stress due to any type of cyber-attack, it is recommended that you seek treatment from an accredited psychiatrist, psychologist, or counsellor. The best part is that personal cyber insurance covers the reasonable cost of treatment in such scenarios. Well, you can protect yourself from data brokers updating your software from time to time,  and by not clicking on random links that are used to lure you and gain access.

As data is easily accessible in cyberspace, there are many risks and potential hazards. Hence, the high risk exposure makes cyber security insurance an important investment. Apart from this significant personal cyber liability insurance, Raghnall also offers corporate cyber insurance, D&O insurance, and group health insurance for different businesses.

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