Every day, many news are reported for UPI app frauds, look-alike websites, call centre frauds etc. With the rise in digital transactions, cyber-crimes are also increasing. On a larger scale, the Centre for Strategic and International Studies in 2014 estimated annual costs to the global economy from cybercrime was between $375 billion and $575 billion. All major risks like health, theft etc. are covered with an appropriate insurance policy. Since cybercrimes are also becoming a major risk area, whooping 98% of insurance experts in our survey confirmed that new specific insurance plans are needed to be protected from these risks.
New Insurance plans may come up to cover the risk of cyber-crimes
