Cyber Risk Insurance

‘Cyber insurance’ category has seen a 40 pc yoy growth in 2018 in India as increasing cyber security threats and challenges are prompting organisations to opt for such solutions to offset financial liabilities in case of a breach.

The Data Security Council of India (DSCI) report titled “Cyber Insurance in India – Mitigating Risks amid Changing Regulations and Uncertainties” said the insured amounts ranges from $1 mn (about Rs 7 cr) to $200 mn (about Rs 1,400 cr). For $1 mn coverage, premium amount ranges from $6,500-8,000 (about Rs 4.5-5.6 lakh).