Kathmandu. The cyber insurance gap is growing in the Asia-Pacific region. About 32 percent do not know about cyber insurance coverage.
Munich Rico’s Global Cyber Risk and Insurance Survey report shows this. More than half of the respondents have experienced or been affected by a cyberattack. However, only 41 per cent said they did not have cyber insurance.
Awareness has become a major problem for insurance companies. 32 percent of those who did not have personal cyber insurance said they did not know about such coverage.
Meanwhile, 37 per cent of the respondents said they were considering buying a personal cyber insurance policy. The survey found that 58 percent of respondents have already been affected by cyberattacks. “Online shopping, fraud, malware, fraudulent bank transfers, data breaches and identity theft are the most common cases,” the report said.
Munich Relay Personal Cyber Insurance Policy can cover losses related to online shopping scams, unauthorized transactions and false payments. “In the event of phishing or takeover, insurance coverage may include access to a 24÷7 cyber response service to help secure the compromised account and minimize further financial loss,” the report said. – Agency
