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Member, Beacon International Group, Ltd.
Marsh L.L.C.'s Singapore unit has said the demand for cyber liability insurance is likely to increase as firms' concerns over reputational damage increase, STJobs.sg reported citing The Business Times.
Marsh Singapore chief Iris Teo said the take-up of this type of cover has been gradual in Singapore, and this could mean a surge in demand in the future.
Ms. Teo said it is "encouraging to see the 'it won't happen to me' mindset changing, as companies recognize the new reality of cyber risk in Singapore and across Asia."