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International

Cyber insurance coverage in Latin America in "infancy": Exec

January 28, 2015 Reprints

Javier Mercado, financial lines regional manager at American International Group Inc., said that cyber insurance coverage in Latin America is still in its "infancy," BNamericas reports.

Security firm Norton said cybercrime costs totaled $3 billion in Mexico in 2014 and $8 billion in Brazil in 2013.

Although many industries in Latin America are tapping cyber protection, financial institutions make up a major part owing to their high cyber risks exposure, Mr. Mercado said.

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Cyber insurance coverage in Latin America in "infancy": Exec

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