Cyber crimes are on the rise. Here’s how you can protect yourself from them.

Posted on Jan, 2021

India is digitizing at a fast pace, counting over 700 million internet users in 2020 and predicted to reach 974 million by 2025. Tapping into the ecosystem of internet users, advanced digital technologies backed by artificial intelligence and smart algorithms were introduced to provide general ease of operations along with social platforms to communicate extensively. Although the digital ecosystem comes with its huge advantages, it is not immune to risks resulting in online financial frauds and huge losses. Cyber retail insurance can play a vital role in protecting customers against cyber threats by covering the losses resulting from cyber fraud.

How can Cyber Retail Insurance help?

A cyber retail insurance policy is designed to provide comprehensive coverage against the financial losses occurring due to certain cybercrimes. It can help against cybercrimes, such as:

Unauthorized Online Transactions:

Covers losses incurred due to fraudulent and unauthorized digital transactions made using personal financial details such as internet banking, mobile banking, bank account, debit card, or credit card by a third party.


Covers medical expenses incurred on therapy or psychological counselling sought as a result of cyberbullying or harassment experienced on a digital platform by a third party.

Cyber extortion:

A cyber retail policy covers financial losses incurred from hackers stealing your data, computer systems, personal information, website, or mobile and threatens to use or make them public until their demands are met.

Email Frauds:

Reimbursement of losses sustained as a direct result of online phishing or email spoofing where hackers target people through website links to steal personal information.

Legal Expenses:

The standard costs arising as a result of any of the cybercrimes mentioned above are covered along. Reimbursement is also provided for any legal advice sought by the policyholder.

The Cyber Retail Policy You Should Buy

There is an inherent risk associated with almost every financial activity, especially on digital channels; with users being exposed to active online threats. Based on your usage and digital footprints, it is ideal to invest in a comprehensive cyber retail insurance policy. An ideal insurance policy must be based on the level of digital exposure to determine the ample sum assured and the family members who must be covered under the policy. To avoid the information overload of numerous available policies with multiple features, consulting an expert insurance broker can prove to be the key to buying the most suitable cyber retail insurance.

PINC Insurance is a one-stop solution for people looking to buy cyber retail insurance. With a customer-centric approach, we provide an end-to-end service to the insured, right from by consulting them the optimum insurance plan to claim settlement. Customers’ digital exposure is analyzed to determine their threat level and recommend them with the most suitable cyber retail policy. Our team of experts continually monitors the policy to direct it towards the desired goals.

Cyber crimes in India are on the rise. As newer technologies are introduced, more people join the digital ecosystem. Although the ecosystem is effective to use, victims that fall prey to cybercrimes suffer from both financial and psychological harm. The exact solution is seen in a cyber retail policy that can protect the interest of internet users while allowing them to benefit from the advantages it provides. Cyber retail insurance is the modern solution needed for the contemporary problems of cybercrime.

Visit PINC Insurance to buy the most fitting cyber retail insurance for yourself and your family.