KOLKATA, India: Virtual crime is climbing. Cyber frauds, hacking and data theft by employees or outsiders in BPOs, IT & ITeS as well as e-commerce companies are on the rise. And this is exactly why more and more e-commerce entities , BPOs as well as IT & ITeS companies are scrambling for insurance covers that guard them at least from the financial loss arising out of these incidents.
“Although, there is no data on the quantum of financial losses arising out of such incidents, losses for each affected companies run into crores and may also lead to loss of contracts. Further, there is a face loss for the company which acts in the way of getting new contracts. This has resulted in a major rise in demand for covers that shields companies from such incidents,” Optima Insurance Brokers CEO Rahul Aggarwal told ET.
Although demand for such covers are skyrocketing, there aren’t enough companies to offer these policies. “Only a handful of private players including HDFC General Insurance, ICICI Lombard and Tata AIG offer these,” he said.
http://economictimes.indiatimes.com/BPOs_IT_cos_scout_for_cyber_insurance/articleshow/2739448.cms
Last update : 13-03-2008 20:25
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