Indian banks boost cyber cover: Marsh
Posted On: Sep. 24, 2018 5:53 AM CSTMarsh India Insurance Brokers Pvt. Ltd. said that local banks are increasingly buying higher insurance cover up to $100 million in response to recent cyber attacks, The New Indian Express reported. Marsh India said that about 20 local lenders had so far purchased cyber insurance while another seven public sector banks are looking to buy cover in October. Sanjay Kedia, chief executive of Marsh India, said that the banks are also considering buying professional indemnity insurance to cover fraud-related costs.