UAE – 10% growth of cyber insurance
Saturday, 10 29 2016, Category: Technology, Country: U.A.E
Insurance companies operating in the local market are expanding the customer base of cyber insurance, which is witnessing a remarkable growth of 10% annually according to Mr. Tariq Zietoun Chief Officer – Underwriting & Strategic Accounts Management. Mr. Zietoun told “Alittihad” that cyber insurance covering cybercrime grew since companies are increasingly aware about its importance in the different economic and service sectors in the country noting that electronic services offered to customers and partners are becoming a widespread practice whether on a local or foreign level.
He added that cyber insurance is a recent addition to the market. However, large companies and enterprises are currently seeking to protect their electronic systems especially national companies, which deal directly with the public and operate in the oil, gas, banking, and service companies including commerce and tourism.