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India is slowly warming up to cyber insurance. But the black hats are moving faster.

With over 50,000 cyberattacks every year, India is a soft target for hackers. While the cyber-insurance market is still at a nascent stage, corporates are unaware of the benefits of the product, its coverage, and exclusions.
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11 Sep 2019 6 Mins Read 1 comments
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July 21, 2016 had begun like any other normal working day at Union Bank of India’s (UBI) corporate office at Nariman Point, Mumbai. Employees were settling down after making their way through the morning rush and Mumbai’s heat. Being a Friday, weekend plans were at the back of everyone’s mind. But soon, the day turned out to be anything but
of crisis. Organisations are adopting various cybersecurity techniques such as cloud security, data management, artificial intelligence/machine learnings to prevent fraud and data theft,” says Kiran Lokhande, head – liability underwriting, Bajaj Allianz General Insurance. A proper cyber insurance cover on top of advanced and secure technology can help keep the black hats away. ( Graphics by Mohammad Arshad)
July 21, 2016 had begun like any other normal working day at Union Bank of India’s (UBI) corporate office at Nariman Point, Mumbai. Employees were settling down after making their way through the morning rush and Mumbai’s heat. Being a Friday, weekend plans were at the back of everyone’s mind. But soon, the day turned out to be anything but of crisis. Organisations are adopting various cybersecurity techniques such as cloud security, data management, artificial intelligence/machine learnings to prevent fraud and data theft,” says Kiran Lokhande, head – liability underwriting, Bajaj Allianz General Insurance. A proper cyber insurance cover on top of advanced and secure technology can help keep the black hats away. ( Graphics by Mohammad Arshad)

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