With rise in cybercrime, firms take cover

With cybercrime increasing exponentially, firms from varied sectors such as information technology, banking and telecommunications, including start-ups, are queuing to purchase cyber insurance.

Though there are no concrete statistics yet to quantify the number and value of cyber insurance policies taken by firms in Tamil Nadu, there has been an upswing in demand, according to insurance firms. According to insurance broking and risk management firm Marsh, the Indian cyber market has seen a big upswing in the last 18 months. India is the third most heavily cyber-attacked country in the world.