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Cyber insurance demand rises in manufacturing sector

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Insurance industry experts said that manufacturers are increasingly buying cyber insurance products due to a shift towards using internet-of-things devices to improve efficiency and productivity, The Hindu Business Line reported. Nearly 200 companies have purchased cyber insurance cover, with current gross written premiums totaling 2 billion Indian rupees ($31.4 million). Data from the Indian Computer Emergency Response Team showed that companies reported nearly 27,500 cyber attacks until June 2017.

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