Indian companies mostly uninsured against cyber attacks

Indian companies are increasingly suffering huge losses due to rising cyber attacks that leads to interruption of business and loss of customer data.

However, with only 100-150 policies covering cyber crime liability insurance being sold in the country, majority companies are inadequately protected against the growing menace, according to insurance companies.

Financial sector that carries out financial transactions and handles cash is among the high-risk targets, but most banks in India, barring a few large private lenders, do not have cyber crime liability insurance.
Industry officials said this could potentially lead to heavy business losses if the computer systems are hacked and customer data is stolen.
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