Insurance Regulator has issued Cyber Insurance Product norms which will help the General Insurance Companies to develop Standalone Cyber Insurance Products with the help of guidance document. The new product aims to address changing and enhancing needs of buyers.
Cyber liability insurance is yet to evolve in India compared to countries like the US and UK. India is the second largest internet user in the world. With the increase in internet usage the cyber-crime menace has witnessed an unprecedented surge in number of cyber-attacks. Companies have lost from INR 10,00,000 to INR 1,50,00,000 in no time. Almost 60% of Indian companies are today taking active steps to control cyber risk losses.
It is observed that there is less awareness in the students’ pursuing Insurance career regarding examinations-certifications that are recognized at national and at global level. In this article we will discuss about the Licentiate examination conducted by Insurance institute of India and will provide study tips and details about the examination.
Licentiate: – This is a basic level – First level examination for Students from both Life and General Insurance background. 60 credit points need to be acquired by candidates with two compulsory papers required to be cleared. Licentiate Examination is conducted on online mode. Centres are designated by III in major cities of India.