Finance|Insurance — Indian banks double cybersecurity insurance cover to $100M amid rising threats

Indian banks and financial institutions have doubled their cybersecurity insurance coverage over the last five years, with typical sums insured rising to between $50 million and $100 million in FY26 from $10-25 million in FY21. The increase is driven by a surge in cyberattacks, higher claim severity, and stricter regulatory scrutiny. The cyberinsurance market premium for the sector is estimated at ₹900-1,100 crore in FY26, with the claims ratio climbing to 50-60%.