Cyber Insurance: Essential for Digital-First Indians Amid Soaring Cybercrime
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News18•28-01-2026, 18:30
Cyber Insurance: Essential for Digital-First Indians Amid Soaring Cybercrime
- •India's digital ecosystem is rapidly expanding, with 21.63 billion transactions worth INR 27.97 trillion in December 2025, highlighting increased digital adoption.
- •Cyber fraud losses in India surged by 206% year-on-year, from INR 7,465.18 crore in 2023 to INR 22,845.73 crore in 2024, indicating a critical need for protection.
- •Cyber insurance offers comprehensive protection against identity theft, unauthorized financial access, and covers legal costs for prosecuting cybercriminals.
- •Policies like SBI General's Cyber VaultEdge provide support for IT experts, data restoration, psychological consultation, and compensation for lost wages due to identity theft.
- •Family coverage extension ensures spouses and dependent children are also protected, offering a robust safety net for the entire household against cyber threats.
Why It Matters: Cyber insurance is crucial for digital-first Indians to protect against rising cybercrime and ensure financial and mental well-being.
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