Cyber crime insurance cover plan to prevent online fraud: In today’s technology era, where all the information of every person is available on the internet, due to which cyber crime is increasing continuously. Due to which the general public is worried about cyber fraud all the time, in such a time, insurance companies are coming with some relief plan for you, so let’s know what is it? cyber crime insurance cover plan.
Cyber Crime Insurance Cover Plan: Insurance Plan to Protect Against Online Fraud
Insurance companies will save you from the loss of deposits in banks, online fraud and increasing crime in the cyber sector. Many insurance companies in the public and private sector are ready to compensate for the loss of bank accounts, online fraud and cyber attacks. Under the Digital India campaign of the Central Government, efforts are underway among banks, financial institutions and insurance companies to make the consumer safe from cybercrime.
All companies like Secure Now, Insurance Manager, SME Insurance India and Clear Insurance have brought cyber crime insurance cover plan. It is worth mentioning that in cybercrime, insurance is provided on different grounds, in which insurance companies determine the installment on the basis of risk.
Many Big Banks Ready: Many big banks are ready to move forward on cyber crime insurance cover plan, in which SBI has asked a company included in its panel of insurance advisors to prepare a report. Other banks including Bank of Baroda are also serious on this. In exchange for cyber security from banks, a fixed fee can be charged from the customer. At present, the insurance regulator IRDA (Insurance Regulatory and Development Authority) is shoe in detailed preparations regarding cyber insurance. Its objective is to provide the right insurance to the consumers at a reasonable rate.
Benefits of Cyber Crime Insurance Cover Plan
Card protection insurance already applicable with credit card, debit card and prepaid card will not be applicable in case of online fraud. But the Cyber Security insurance cover plan will provide complete protection against such crimes, whether it is a case of fraud through card swipe or online fraud.
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Damage to the world due to Cyber Crime: Last year, $ 45.5 billion in damage has been caused by cyber crime all over the world. There has been a loss of $ 4 billion in India alone. Cybercrime is increasing by 50% annually. Global cyber risk insurance premiums of $3.5 billion in 2016. Whereas in 2015 there was a global amount of $ 2.5 billion premium.
