First insurance against cybercrime

American Insurance Group (AIG) has become the first insurer to market an insurance product against cybercrime in Uganda. This risk is, henceforth, recognized as tangible in the country. The latest bi-annual report released by the national police in 2015 reported 137 cyber attacks versus 61 the previous year.

Government agencies and companies in the financial and telecom sectors have been the most targeted sectors of all. In 2013, the losses caused by attacks on the Internet were estimated at between 19 and 25 billion UGX (7.6 and 10 million USD).

The new insurance, called "Cyber ​​Edge" covers the legal costs, restoration of lost data and the company reputation. The financial losses are also part of the coverage.