A New Realm: Cyberspace, Cyber Liability And Cyber Liability Insurance

For any business today, the reality of day-to-day functioning and management involves mass-communication, networking, marketing, and the organization of important confidential information on secured computer networks. Digitalization of information and communication is becoming second-nature due to the efficiency and simplicity that computers provide, as well as their instantaneity. However, as the amount of important and confidential information being stored on computer networks continues to grow, so does the risk of becoming an appealing target for scammers, fraudsters and cybercriminals. This correlation makes it arguable that cyber liability insurance will soon become one of the most important forms of insurance on the market.