Evolving dynamics of cyber security and insurance

The rapidly evolving cyber threats impacting diverse industries, emphasizing AI’s dual role in fortifying and compromising security, and underscores the indispensable role of tailored cyber insurance in mitigating financial and operational risks

In the constantly evolving landscape of Cyber security, understanding the threats and the role of insurance is crucial. Najm Bilgrami, National Head of Financial Lines,Tata AIG General Insurance, offers a comprehensive perspective on these challenges and the emerging solutions during a detailed conversation with Ashok Pandey.

▾ Cyber Threats: A Dynamic Risk Landscape

Najm Bilgrami begins by emphasizing the dynamic nature of cyber risks, which have significantly evolved over the past decade. He notes that cyber-attacks no longer target specific industries or sectors; today, they can strike anywhere, from healthcare to critical infrastructure, making predictability nearly impossible. For instance, major pharmaceutical companies in India, such as Sun Pharma and DRL, have experienced breaches, highlighting the severity and frequency of these incidents.

▾ The Role and Response of AI in Cyber security