Phishing in troubled waters? Take cover in cyber liability, say experts

Protect family's data, finances; consider floater cover as well

Since the onset of the pandemic, and with more people adopting the digital payment route, the incidence of online frauds through malware, phishing, and identity theft has risen worldwide, and also in India.

A recent online survey of over 4,500 respondents by PolicyBazaar showed that nearly 20 per cent of them had suffered a financial loss due to cybercrime. However, only 24 per cent had purchased a cyber insurance policy. The survey also revealed that financial loss due to unauthorised transactions is the threat most respondents (57 per cent) want covered through cyber insurance. 

With more people working from home,