Brunei - New cyber cover launched as sultanate sees rise in cyber attacks

Source: Middle East Insurance Review | Apr 2020

Takaful Brunei Am (TBA) has launched a new shariah-compliant cyber security protection scheme that helps companies manage the risk of liabilities arising from a data breach, including hacker attacks, ransomware and third-party data theft.

TBA said the cyber insurance policy was introduced as it foresees a digital transformation sweeping across the country. The takaful operator aims to promote awareness of cyber security through the new protection scheme.

The cyber protection scheme covers privacy liability, network security liability, media liability, cyber extortion, data asset loss and business interruption.

Brunei reported a 39% increase in cyber attacks in 2018, with malicious software accounting for the majority of the 2,976 cases reported, according to media reports. M

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