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TATA AIG Launches CyberEdge: A Comprehensive Cyber Insurance Solution for Indian Businesses

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Bengaluru: TATA AIG General Insurance Company, a leading general insurance provider, has introduced CyberEdge, a new cyber insurance solution designed to protect businesses of all sizes against a wide array of cyber risks. The policy offers robust financial and operational support, covering forensic investigations, legal fees, data recovery, extortion payments, and losses from business interruptions. With a strong commitment to enhancing cybersecurity resilience, CyberEdge aims to capture 25% of the cyber insurance market in the coming five years.

A recent report by Prahar highlighted that 79 million cyberattacks were recorded in India in 2023 and the threat landscape is rapidly evolving. The report also projected that these attacks could surge to 1 trillion annually by 2033.

Commenting on the launch, Mr. Najm Bilgrami, National Head, Financial Lines, said, “The Indian cyber insurance market, valued at INR 850 crores in 2024, has witnessed significant growth in recent years. With a projected CAGR of 25% between 2025 and 2030, cyber insurance is set to become an integral part of risk management strategies, enabling businesses to mitigate damages effectively, recover operations seamlessly, and thrive in today’s digital-first economy. A cyber breach itself may not be catastrophic, but failing to address it properly can lead to even bigger challenges. CyberEdge has been meticulously designed to provide both financial safeguards and swift, expert-led responses to incidents.”

Post-pandemic, there has been a remarkable surge in demand for cyber insurance from various sectors, including IT companies, BPOs, banks, and other industries. Additionally, small and medium enterprises (SMEs) are increasingly targeted by cybercriminals due to their often-limited infrastructure, making robust cyber insurance solutions essential for their risk management.

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