Cyber Insurance

The Information Technology is an essential discipline in our daily activities. We use our mobile phones often to communicate with our loved ones, research over the internet, and much more. Organizations and institutions today solely rely on computers configured over networks in their daily operations. Organizations prefer having their information backed up on virtual servers referred to as cloud computing. Cloud computing is among the safest measures to information security. We often share information either directly using storage media or over the internet. Information shared or stored over the internet is prone to attacks referred to as cyberattacks. Cyberattacks can result in total impairment of an organization’s data, blockage of part or the whole information in the form of a trojan. At this point, the attacker demands payment before they grant you access to your information. Cyberattacks have thus resulted in organizations encrypting their information. However, despite the use of advanced encryption technique, cyber attackers have gone beyond this level of technology to hack into the data by gaining access to the decryption key. Researchers have thus come up with cyber insurance, which offers security to organizations’ and businesses’ information. Cyber insurance uses high-level algorithms that are difficult for the attackers to understand. It minimizes cases of information compromisation.