| Mumbai |
Published: August 27, 2018 1:54:10 am
Several banks and government institutions have also been targeted by fraudsters. (Representational Image)
Demand for cyber insurance policies has gone up in the past few years, especially in the wake of the WannaCry ransomware attack of 2017 where computers using Microsoft Windows across the world were targeted by fraudsters, cyber experts said.
Recently, Pune-based Cosmos Bank lost Rs 94 crore in a coordinated digital fraud comprising thousands of online transactions, made possible because of a malware attack on the bank’s systems.
Anurag Rastogi, member of executive management, HDFC ERGO General Insurance, said, “More corporates are opting for cyber security cover. Today, cyber risk has become an integral part of the boardroom discussion in most companies. In India, over 200 companies have already purchased it of which at least 50 per cent are purchasing the product year-on-year. In 2015, we wrote about 12 policies and by 2017…
