Central Insurance company of Iran (CII), the regulatory body of Iran’s
fast growing insurance industry, is working on a scheme to cover bank
accounts against cyberattacks.
According to Gholamreza Soleymani, the CII president, the plan seeks to
protect policyholders against phishing scams, adding that it could be
approved before the current fiscal year is out next March.
Pointing to the complex nature of cyberattacks, he said, "Latest
analyses of cyber risks based on Cyber Police data is needed for
finalizing the coverage framework, including feasible ways to identify
loss, assessing risks for insurers and policyholders, setting rates
based on impacting factors, clearly defining insurers’ commitment and
developing a framework for marketing and supervision," IRNA quoted him