Cyber
Risk
Cyber & Technology Liability in India
Cyber Liability Insurance In Delhi

CYBER LIABILITY INSURANCE


Scenario in India: Cyber risk insurance seems to take an uptick


Recent data indicate that India is ranked third globally in terms of vulnerability to cyber attacks, accounting for 6.5 per cent of the targeted attacks in 2012.

Some high risk sectors are banking and information technology as they handle and process large amounts of personal and proprietary data for their customers on online platforms. There are also concerns on the likely impact on the outsourcing industry which depends upon work from overseas companies.


Two Indian technology firms, working as outsourced payment processors, were in the spotlight recently for their alleged role in a $45-million credit card fraud impacting Indian and international banks. In another incident, cyber criminals reportedly hacked into an RPG group company’s bank account and siphoned off INR 24 MLN through the real time gross settlement system (RTGS).



Cyber Liability Insurance Services Mumbai TARGET MARKET


The product is aimed at a wide range of companies as most businesses have an exposure to cyber


Some industry examples include:
  • Website operators and e-tailers
  • Healthcare providers
  • Leisure and entertainment companies
  • Software companies
  • Manufacturers and wholesalers
  • Financial Institutions like Bank, NBFC, etc
  • Manufacturers and wholesalers
  • Professional service companies