Brief: Cyber insurance coming to Argentina

Friday, November 10, 2017

Argentina's insurance watchdog SSN is preparing the regulatory framework to allow companies to start offering cyber insurance products.

The rules and regulations are due to be ready next year, when the first policies are expected to be offered, local paper La Nación reported, citing SSN chief Juan Pazo.

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"There is appetite among companies to start providing this insurance," Pazo was quoted as saying by the daily.

He added that officials are working on regulations for products that cover three types of risk: impact on business operations, impact on reputation and third-party claims.

About 60% of of Argentine companies have suffered some kind of incident related to information security, the paper said, citing tech consultancy Eset.