AU Small Finance Bank is investigating a possible leak of vehicle-loan customer information as cyber-insurance claims at Indian banks rise, putting the cost of digital incident response in focus.
Business Standard reported Nov. 1 that industry estimates put cyber-insurance claims from Indian banks above ₹150 crore so far in FY27. Shikha Hassani, senior vice president at Unilight Insurance Brokers, put the estimate at about ₹150 crore to ₹175 crore and said it was roughly half above the previous year’s level.
The larger claims tally has not brought firmer premiums, Business Standard reported, pointing to wider reinsurance capacity. The outlet also connected the increase in reported losses to greater awareness, reporting obligations and cyber-resilience programs, which have helped move previously unseen incidents into insurers’ claims pipelines.
In an Oct. 30 update, AU said it was investigating a possible leak involving limited information about vehicle-loan customers on a software platform Salesforce hosted and managed. It said the incident had not affected its own systems and banking services remained available to customers.
Salesforce said Oct. 31 that the information it had received so far did not point to a flaw in its platform connected to the investigation.
The Economic Times reported that costs tied to a data incident can include forensic investigations, legal services, customer notices and credit monitoring. It said cyber policies may cover some response expenses, depending on policy terms and exclusions.
A State Bank of India filing shows how such reviews can extend beyond a single customer system. In a preliminary review of roughly 375,000 records discovered on the dark web, the bank identified 3,897 records containing customers’ personal information, according to its Oct. 21 filing. SBI said investigators still needed to establish the records’ source, authenticity and full scope.
A July 27 filing from Bank of Baroda described a separate inquiry after an anonymous party claimed access to data. Preliminary findings pointed to a possible business-email compromise, while the bank said core operations continued normally and expected no material impact on operations, financial performance or business continuity.
