Banks look for insurance as cyber threats increase

Image Source: Article

Image Source: Article

With instances of cyber threats increasing, the banks, which are increasingly going digital prodded by government and regulators following note-ban, are looking for cyber insurance—a fledgling industry vertical for general insurers but having large growth potential.

The country reportedly lost a whopping $4 billion in fiscal 2016 to cyber crimes, while globally, the economic loss due to cyber crimes stood at $455 billion in 2016. 

Read the full article