UPSC Prelims 2020 · Question 90 of 100
UPSC Prelims 2020 question on Cyber Insurance Individuals
- ExamUPSC CSE
- Year2020
- PaperGeneral Studies Paper I
- SubjectInternational Relations
- TopicCurrent Affairs
- DifficultyHard
- TypeStatement
In India, under cyber insurance for individuals, which of the following benefits are generally covered, in addition to payment for the 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:
Show answer
Answer: B. 1, 3 and 4 only
Verdict
Correct options: 1, 3 and 4 → Option (b).
Analysis
Cyber Insurance is designed to guard businesses from the potential effects of cyber-attacks. It helps an organisation mitigate risk exposure by offsetting costs, after a cyber-attack/breach has happened.
Statement by statement
Option 1 is correct: Cost of restoration of the computer system in case of malware disrupting access to one's computer is covered under cyber insurance.
Option 2 is incorrect: Cyber insurance covers costs arising from cyber breaches — not physical damage to hardware by a miscreant. Physical damage to a computer by a person is covered under property insurance, not cyber insurance.
Option 3 is correct: Cost of hiring a specialized consultant to minimize the loss in case of cyber extortion is a covered benefit.
Option 4 is correct: Legal expenses arising out of any covered risk, including defence costs if a third party files a suit, are covered.
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