Data breach costs to drive cyber insurance rates
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Cyber insurance premium rates are likely to increase in India after the average cost of data breaches grew 8% year over year to 120 million Indian rupees ($1.7 million) in 2018, India Times reported. Dhingra, president of Marsh India Insurance Brokers Pvt. Ltd., said that new regulations in overseas markets are driving cyber insurance uptake among Indian firms with global exposure such as pharmaceuticals, retail companies and hospitality firms.
