Cybercrime: Underwriters mull N127bn yearly losses cover

Local underwriters have restricted themselves to conventional risks over the years due mainly to financial inadequacy Following an upsurge in predicate offences and other criminal activities, Nigerian underwriters are targeting 2018 to design products for potential victims of such vices, including cybercrime. Cybercrime, which has cost Nigeria its reputation in the international community, has led to annual losses of over N127 billion as revealed recently by the Minister of Communications, Mr. Adebayo Shittu. The underwriters’ inroad into the new policy initiative, according to findings, is, however, subject to commensurate capital…

Read More