Introduction to Cyber Insurance For market to grow to coming up with the new ideas for market development is important and for insurance policy makers have found internet as its newest market. Internet is place where business are expanding constantly, each year trillion dollar transaction take place over the internet itself and these transaction are vulnerable to cyber attacks which can massive losses to business. The insurance policy maker came up to Cyber Insurance policy. Cyber insurance market is one of biggest growing market in the world. As the world is moving towards the digital age cyber threats are also growing at an inevitable pace. Cyber insurance policies protects internet based risked. There are two types of insurance liability covers are provided i.e. First Party Insurance cover and Third Party Insurance cover. First Party insurance cover protects the property owned by the insurer. First party insurance are payments for the losses and damages suffered by the party. They are same as theft, fire insurance etc. First Party insurance policies generally include following type of covers i.e. loss and damage caused to digital assets, cyber extortion etc. Example of First Party liability where a virus resulting in exposure of company’s secured data that can trade secrets, future transactions, etc. Where the third party insurance cover protect against the loss or damage to data customer or partner that company has promised to protect from an kind of infringement. First Party liability are less devastating compared to the Third Party liability as the following lead to loss of firms reputation, multi-million dollar suits and falling customer satisfaction. . So, over the past ten- fifteen years many insurance firms are providing risk cover from cyber attacks, by providing general cyber insurance policies. Cover Provided by Cyber Insurance Cyber insurance is around for more than 10- 15 years but investing in cyber insurance as a trend began in last 5 years when cyber attacks increased but the cyber insurance don’t cover all kind of damages and losses suffered by the firms. At present coverage provided by cyber liability insurance are as follows:- Data breach/privacy crisis management cover. It provides cover in situation where expenses arise out from investigation, data subject notification, call management, credit checking for data, court attendance and legal cost Multimedia/Media liability cover. Third party damages covering IPR infringement, defacement of website. Extortion liability cover. Losses due to threat of extortion and fees paid to deal with such threats. Network security liability. Third-party damages as a result of denial of access, costs related to data on third-party suppliers and costs related to the theft of data on third-party systems. Risk and Losses Arising from Cyber Attacks A company can suffer different type of losses from cyber attacks as breach caused by the cyber attacks is very broad. The cost arising from the cyber attacks can damage financial state of a company as they have to pay for reconstructing of data base and replacing damaged system.2 Company also needs to respond to an attack by investigating in the attack, notify, the customers for the breach of their data, attempt to repair the damaged reputation etc. Other set of losses that can occur like loss of customer base, money taken from the companies account, creat