A major security breach of Indian banks earlier this year has caused an increased demand for cyber insurance . The attack forced several banks to recall or block compromised credit cards and very few of them offer cyber insurance at present , but this is changing . com Ergo launched cyber cover schemes earlier this year which have become very popular and a further rise in demand is expected . CEO Mukesh das said the bank had seen around 40 % growth in cyber insurance , adding , " we are also expecting a reasonable increase in the premium " .
A major data breach of Indian banks earlier this year has caused an increased demand for cyber insurance. The attack forced several banks to recall or block compromised debit cards and very few of them offer cyber insurance at present, but this is changing. HDFC Ergo launched cyber cover policies earlier this year which have proved very popular and a further rise in demand is expected. CEO Mukesh Kumar said the bank had seen around 40% growth in cyber insurance, adding, "we are also expecting a reasonable increase in the premium".