Journal Press India^®

Author Details ( * ) denotes Corresponding author

Cyber insurance has emerged as a critical financial and risk management tool to mitigate the growing threats posed by cybercrime. As businesses and individuals become increasingly reliant on digital infrastructure, cyber threats such as ransomware attacks, data breaches, and phishing schemes have intensified, leading to significant financial and reputational damages. Cyber insurance provides financial compensation, legal support, and risk assessment services to help organizations recover from cyber incidents. Moreover, insurers play a proactive role by promoting cybersecurity best practices through policy requirements, thereby incentivizing stronger cybersecurity measures. This paper explores the role of cyber insurance in mitigating cybercrime risks, examining its effectiveness, challenges, and future potential in enhancing cyber resilience. While cyber insurance serves as a crucial safety net, it should complement rather than replace robust cybersecurity strategies. The study highlights the evolving landscape of cyber insurance policies, regulatory implications, and the necessity for businesses to integrate cyber insurance with comprehensive risk management frameworks.

Keywords

Cyber insurance; Cyber risk management; Cybersecurity; Cybercrime mitigation; Financial protection; Risk assessment; Legal liability; Cyber resilience

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