Page 32 - Insurance Times Janaury 2021

And, if you need a cyber security consultant to help establish Know your coverage
safer infrastructure in the work-from-home environment, Some companies think of theft through business email
make sure to vet them appropriately. Utilize insurer- compromise or infiltration of internal systems as cyber losses
recommended vendors to ensure a firm is not only and mistakenly believe that a cyber policy will cover them.
legitimate, but skillful.
But there are clear distinctions between what cyber policies
Invest in premises security systems and crime policies address.
Though lockdowns have been lifted and most stores re- Crime policies are intended to cover theft of tangible assets
opened, albeit with reduced traffic, there is a chance that like money, securities or property, whereas cyber policies
closures could become necessary again as new coronavirus protect against loss or theft of data. Cyber policies may have
infections are expected to surge through the fall and winter. very small extensions for business email compromise losses,
Now is the time to install lighting and cameras around your but they are often very limited. Only a crime policy is 100%
property, which go a long way in deterring potential thieves. dedicated to covering losses from theft or social engineering
Move inventory out of sight and make sure doors and windows fraud. Given that it is very difficult to track down or recover
are alarmed once the property is closed. You may consider stolen funds once a fraud has been uncovered, a crime policy
hiring a security guard to patrol the property at night. is imperative for full recovery. T

Obituary

The Insurance Times family mourns the sad demise of Dr. K L Madhok,
Resident Editor, The Insurance Times. Dr. Madhok left for the heavenly
abode on 7th December 2020. Dr. Madhok was associated with the journal
for the last 4 decades and even at this age, he was quite active.
Dr. Madhok was highly qualified and his quest for knowledge never dried-
up. Rather with the age, his urge to gain knowledge increased gradually.
Dr. Madhok was a Fellow of Insurance Institute of India, Fellow of
Institute of Insurance Surveyor, Fellow of International Exports
Association, Diploma in proficiency in Exports, Doctor of Literature from
World University, to name a few.
23-08-1933 to 07-12-2020 He was an expert in Foreign Language translation and knew more than
10 International Language. He had more than 5 decades of experience
in Comparative Linguistics, General Insurance, Consumer Law. He authored more than 500 plus
articles, book reviews, and a compendium of essays.
He was on the Research Board of Advisors of the American Biographical Institute, Albert Schweitzer
Awardee from The Open International University (OlU), Colombo, Sri Lanka, Doctor of Science (HC)
from The Open International University (OlU), Colombo, Srilanka, Silver Medalist for an essay on the
theme "India & Germany: Partners ln Progress", Certificate of Merit from The Insurance Times,
Calcutta for the cause of 'spreading insurance Education & Awareness for two decades.
His hobbies included reading, writing and he treated the continuous learning process, as a way of
life. Apart from being a thorough professional, he was a good human being.
He played an important role in spearheading the activities of the Insurance Times group over the
decades. This loss is irreparable but we shall always cherish his association with us.
R.G.Agarwala
Editor, The Insurance Times

32 The Insurance Times, January 2021