Indian insurance regulator suffers cyber attack, insurers data at risk
Indian insurance regulator suffers cyber attack, insurers data at risk | Insurance Business Asia
Insurance News
Indian insurance regulator suffers cyber attack, insurers data at risk
“Some data has been compromised”
Insurance News
By
Kenneth Araullo
The Insurance Information Bureau of India (IIB) has suffered a cyber attack, with some of the data the regulator is holding apparently compromised.
Two insiders aware of the matter confirmed the cyber breach, with one saying that “some data has been compromised.” As a regulator, the IIB collects transaction data from insurers across different lines of business.
“There has been a breach, it is being addressed at the highest level,” another insider told The Economic Times. At the time of writing, there has been no official response from the IIB with regards to the supposed data breach.
A report published last month indicated that the insurance sector in India includes 57 insurance companies, with 24 belonging to the life sector and 33 belonging to the non-life. Seven of these are public sector companies. Some of the bigger names included in the list of insurers are Tata AIA Life, Bajaj Allianz, Aviva Life, Future Generali, Bharti AXA, TATA AIG, and Cigna TTK.
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