Cyber attacks drive insurance uptake: Experts

Posted On: Aug. 27, 2018 5:46 AM CST

Experts said that Indian companies are increasingly buying cyber insurance following the 2017 WannaCry ransomware attack and recent digital fraud at The Cosmos Co-operative Bank Ltd., The Indian Express reported. Sasikumar Adidamu, chief technical officer at India-based Bajaj Allianz General Insurance Co. Ltd., said that the uptake of cyber insurance policies grew 100% year over year in the quarter ended June 30. Anup Dhingra, an official at Marsh India Insurance Brokers Ltd., said that businesses across all industry segments are buying cyber cover.