Tata AIG targets 2X growth in cyber insurance across AP, TG

Hyderabad: TATA AIG General Insurance Company, leader general insurer, has announced the launch of CyberEdge, a comprehensive cyber insurance solution aimed at protecting enterprises, startups, and MSMEs in Andhra Pradesh and Telangana from the escalating threat of cyberattacks and data breaches.

The company expects its cyber insurance portfolio to contribute nearly 25 per cent of the overall Financial Lines premium within the next three years, as it eyes twofold business growth in the region by FY28. The expansion is being fuelled by strong enterprise adoption and growing cyber preparedness across major IT and industrial clusters in Hyderabad, Visakhapatnam, and Vijayawada.

According to industry reports, Andhra Pradesh and Telangana together rank second in India for reported cybercrime incidents. In 2024 alone, the two states witnessed more than 6.2 million malware detections and 17,500 ransomware cases, with the average cost of a data breach touching Rs19.5 crore. Sectors most frequently targeted include pharmaceuticals, IT/ITeS, BFSI, and manufacturing, which form the backbone of South India’s digital economy.

A recent Horizon Watch: Emerging Risk Report, jointly released by TATA AIG and Dun & Bradstreet India, revealed that 83 per cent of CXOs view technological advancement as the leading driver of new business risks.

“The cyber threat landscape is evolving rapidly, and Andhra Pradesh and Telangana are among India’s most digitally active but also among the most targeted regions,” said Najm Bilgrami, National Head – Financial Lines, TATA AIG General Insurance. “With CyberEdge, we are enabling businesses to strengthen defences, respond faster, and recover smarter. This product is designed not just to indemnify losses but to build true cyber resilience.” CyberEdge provides end-to-end financial and operational protection, including coverage for forensic investigations, data restoration, legal assistance, extortion management, and business interruption losses.

Key features of CyberEdge include: First Response Cover: 24×7 access to TATA AIG’s legal and IT forensics team within two hours of incident reporting; Bricking Recovery: Replacement cover for computer systems rendered inoperable due to cyberattacks; Network Loss Calculation: Option to choose Gross or Net Profit coverage, including forensic accounting fees; Extended System Protection: Coverage for BYOD devices, operational technologies, and SCADA systems; Network Interruption Cover: Protection for up to 120 days post-incident, including mitigation costs; Expanded Insured Events: Coverage includes system failures, voluntary/regulatory shutdowns, and OSP-related incidents; Loss Prevention Services: Included at no extra cost; Multimedia Liability: Protection for liabilities arising from online and social media content.