State Bank of India’s (SBI) subsidiary -- SBI General Insurance has launched a product to protect businesses from financial and reputational losses due to cyber attacks. In the initial phase, the focus will be on SMEs and mid-market businesses, but later the product can cater to larger business conglomerates as well.
This offers protection against the growing threat of cyber breaches and is designed to protect against major insurable cyber exposures like hacking attacks, identity theft, disclosure of sensitive information and business interruption. The product offers both first and third-party coverage benefits including coverage options for contingent business interruption, system failure, reputational loss, multimedia liability and computer crime.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
