Do you know, it is mandatory by IT Act to report a cyber-attack to CERT -In! Who is CERT – In? The Indian Computer Emergency Response Team, it is formed as per the IT (Information Technology) act 2000 and they shall be a part of and function under the administrative control of Department of Electronics […]
Case Study: Impact of Underinsurance on Fire Claim Settlement Background: In December 2021, one of our apartment clients reported a fire accident that occurred in the basement electrical board room. The estimated loss was approximately ₹75 lakhs. The apartment was insured under a Fire Insurance Policy with a sum insured of ₹100 crores. Incident Summary: […]
Case Study: The Cost of Delay in Purchasing Cyber Insurance Background: Recently, one of our clients experienced a ransomware attack that severely disrupted their operations. Prior to the incident, their management believed that a USD 1 million (INR 8.5 crore) cyber insurance cover was unnecessary. Incident Summary: Following the attack, the same client urgently sought […]
A devastating fire broke out in a factory due to a short circuit in an electrical panel, spreading rapidly and causing extensive damage to machinery and finished goods. The insured has lodged a claim under their Standard Fire and Special Perils (SFSP) Policy, seeking reimbursement for repair/replacement of damaged machinery, loss of stock, and debris […]
Trade Credit Insurance – Protect Your Business from Bad Debts Trade credit insurance (TCI) is a risk management tool that protects your business against customers’ failure to pay for products or services due to insolvency, defaults, bankruptcy, or political turmoil in countries where the trade partner operates. TCI reimburses companies when their customers are unable […]