Insurance on cyber crime

Well, there is good news for you, Flipkart has recently launched ‘Digital Suraksha Group Insurance’ in collaboration with Bajaj Allianz General Insurance to protect customers against financial losses during online shopping.

The said insurance will compensate for direct financial losses due to any unauthorised digital financial transactions arising out of spoofing/phishing, cyber attacks, and SIM-jacking. Therefore, this will cover cyber frauds, cyber-attacks, or other such malicious activities on the online platforms.

One can get this insurance for premium as low as Rs 183 per annum for a cover of Rs. 50,000. For a cover of Rs. 1,00,000 one has to pay Rs. 312 and for a cover of Rs 2,00,000 we have to pay Rs. 561. With this Insurance from Flipkart and Bajaj Allianz, one can now protect themselves against financial loss due to online fraud for a cost as low as Rs 50 per day.

This product includes coverage against online transactions for credit cards, debit cards, digital wallets, Internet banking, UPI and protection shall be available in respect of all bank accounts. Also, multiple claims up to the amount of cover will be admissible if the cover has not been exhausted in the first claim and so on.

One has to report the fraud within 90 days of the occurrence for making a claim and you can buy this policy while certain products from Flipkart such as laptops, mobiles, audio devices, etc.

Source: investorq

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