Tuesday, November 20, 2007

Terror insurance pool triples to Rs 600 cr

20 Nov, 2007, 0353 hrs IST, TNN

PUNE: The terrorism insurance pool, begun by the finance ministry, has tripled in size from Rs 200 crore in 2002 —when it was set up — to Rs 600 crore now, as companies in the Naxal-affected areas are increasingly seeking terrorism insurance cover.

Temples and the railways are others, who along with industry, are now seeking such an insurance cover. “The ministry of finance had set up the pool after the 9/11 terror strikes in the US. Companies in Naxal-affected areas such as the border states or north-eastern states have started insuring themselves,” said National Insurance Academy (NIA) director KC Mishra, on the sidelines of the inauguration of a seminar on cyber forensics.

Speaking at the seminar, Gokul Narayan, senior faculty member, Asian School of Cyber Laws said India has witnessed cyber crimes like fake profiles and credit card frauds.

“We are yet to experience the big cyber crimes,” said Mr Narayan. However, he emphasised that it was as easy to prevent cyber crimes as it was easy to commit them. Hiding the three-digit number at the back of the credit card and not giving it to an unknown person, are some of the basic precautions that one needs to take, he added.

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