The idea of getting your online data insured is still an alien concept in India. There are many insurance companies which offer packages with cyber security. In India, it is a relatively new concept. As the numbers of online transactions are increasing, incidents of cyber fraud are also increasing. KG Krishnamoorthy Rao, the MD and CEO of Future Generali India Insurance say, "Even if cyber insurance is not popular now, all it needs is awareness and then there will be a market for this." The banking sector and payment wallets urgently require cyber insurance. Cyber insurance covers economic loss, e-threat and expenses to restore data for an online business. There are not many challenges in dealing with cyber insurance. The only problem is that people don't know what they can claim through this. Read more at: https://www.entrepreneur.com/article/295471