cyber insurance
In today’s time, digital payment has become a part of our everyday life. Mobile banking, UPI and online transactions have made work easier, but with them the risk of cyber fraud has also increased rapidly. Sometimes a little carelessness or a wrong click can make your years’ savings disappear within a few minutes. In such an environment, cyber insurance is emerging as a strong security shield.
Why did its need increase?
There has been a huge increase in the cases of digital fraud in India in the last few years. Taking advantage of easy access to the internet and lack of awareness, cyber criminals are targeting people through phishing calls, fake links, OTP fraud and UPI scams. Many people have lost their hard-earned money. In such a situation, cyber insurance gives assurance of compensation for financial loss.
What does cyber insurance cover?
Under this policy, if you are a victim of UPI fraud, debit or credit card scam, phishing email, online hacking or identity theft, then the insurance company compensates the loss as per the prescribed conditions. Some policies also include services like legal aid and data recovery. This not only protects the bank balance but also maintains confidence while doing digital transactions.
Increasing transactions, increasing risk
The use of UPI and online payment is continuously increasing in the country. Crores of people are making payments through digital medium every day. While convenience has increased, the methods of fraud have also become more clever. In such a situation, not only caution but also additional security has become necessary.
What do experts say?
Financial advisors believe that just as health and life insurance are essential, cyber insurance is also becoming essential in the digital age. It not only provides financial security but also provides mental peace. It is very important to stay safe in this era of Digital India. Cyber insurance is a wise move that helps protect your hard-earned money from online fraud and allows you to conduct digital transactions without any worries.
