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Banks ramp up cyber, directors' and officers' cover


Indian banks are buying cyber insurance and directors' and officers' liability policies with up to 1 billion Indian rupees ($14.5 million) in coverage due to a rise in cyber frauds and allegations of bribery and corruption against senior officials, Business Line reported. Experts said that banks are looking to buy policies with fewer exclusions and with sums insured of at least 10 to 15 times more compared with previous policies.

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