Spike in data breaches sends firms scrambling for cybersecurity cover

HYDERABAD: With a spate of data breach incidents at players like Mobikwik, Upstox and Unacademy coming to light in the past few days, general insurance players are seeing a rise in enquiries for cyber security covers from all sectors. And these queries are coming not just from large corporates but SMEs and MSMEs as well.

In fact, many of their existing enterprise customers too are looking at fortifying their cyber security covers by adding more clauses or opting for higher sum insured policies, multiple insurers confirmed.