The Imperative Need of Cyber Insurance for MSMEs

In the age of digitalization, technology has become an essential aspect of businesses, especially for small and medium-sized enterprises (MSMEs). With the rise of digital technology, the risk of cybercrime has increased, making it imperative for MSMEs to have proper cyber insurance to protect their business from financial and reputational damage caused by cyber-attacks. Cyber insurance is a type of insurance policy that covers the losses incurred by a business due to cybercrime. In this article, we will discuss why cyber insurance is needed in MSMEs and how it can protect their business from the threat of cybercrime.