Insurers negotiate with cyber attackers to tackle rising claims
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India-based private insurers like Bajaj Allianz General Insurance Co. Ltd. and HDFC Ergo General Insurance Co. Ltd. are negotiating with hackers to tackle the rising number of claims from to ransomware demands, The Economic Times reported. Additionally, they are also reworking covenants, tightening agreements with clients as well as tweaking their cyber insurance products, as India becomes one of the most targeted nations for cyber attacks globally.
