Magazine date:
Jul 2018 Indian insurer HDFC Ergo launches "E@Secure", a new insurance cover against cyber-risks, aimed at private individuals. This is a mechanism that protects individuals and their families against cyber attacks [4], cyber fraud and other digital threats likely to cause financial damage or harm the reputation of the insured.
The premium ranges from 0.14% to 3% of the sum insured which varies between 50 000 INR (735 USD) and 10 million INR (147 000 USD).
According to Ritesh Kumar, CEO of HDFC Ergo, India is the second largest online market in the world. Its development is accompanied by the substantial rise in cybercrime.