Cyber insurance covers specified financial consequences of cyber incidents, potentially including response expenses, data restoration, interruption, and liability. Coverage sections and security requirements vary substantially. It supplements practical security measures rather than replacing backups, access controls, or incident response planning.
A Nepalese business handling customer data should check protection for outsourced systems, payment fraud, ransomware-related expenses, and overseas claims. Not every cyber event or transfer of money is covered. Review exclusions, notification requirements, and any business interruption insurance section before deciding which losses the policy addresses.