India 2014 Cyber Survey Report

Globally, there was a dramatic rise in the number of cyber attacks in 2013: Targeted attacks were up 91% from 2012, while the number of data breaches rose by 69%.

Warnings and advice from the government and insurers, coupled with a series of high-profile attacks has seen a dramatic increase in Indian businesses’ concerns surrounding cyber risk in recent years.

Yet the results of a Marsh survey carried out at the inaugural Digital Threats Conference found that, despite high levels of concern, Indian businesses are generally underserved in terms of data surrounding internal vulnerabilities and the potential impact that a cyber attack or data breach could have on their organisation.

The uptake of cyber insurance by Indian businesses remains low at present, but is increasing as awareness of the products available, and the ability of organisations to assess the value that risk transfer can offer, improves.