New Delhi, January 22, 2025 – TATA AIG General Insurance Company has unveiled CyberEdge, a new cyber insurance solution aimed at providing comprehensive protection for businesses against a wide range of cyber risks.
The CyberEdge policy includes financial and operational support for various incidents, covering forensic investigations, legal fees, data recovery, extortion payments, and losses stemming from business interruptions.
Najm Bilgrami, National Head of Financial Lines at TATA AIG General Insurance, expressed the company’s ambition to capture 25 percent of the cyber insurance market within the next five years. This initiative comes in response to a recent report by Prahar, which revealed that India experienced 79 million cyberattacks in 2023. The report also warned that the frequency of such attacks could escalate to 1 trillion annually by 2033.
With the launch of CyberEdge, TATA AIG aims to enhance the cybersecurity resilience of businesses, positioning itself strategically in a rapidly evolving threat landscape. The company is committed to addressing the growing demand for cyber insurance as organizations seek to mitigate risks associated with digital operations.
The introduction of CyberEdge signifies a proactive step by TATA AIG to not only protect businesses but also to contribute to the overall cybersecurity framework in India as cyber threats continue to rise.
