SINGAPORE – Customers who do not receive items they purchase online can tap an insurance plan launched by telco StarHub to cover their losses.
Known as CyberCover, the insurance will also pay for the costs involved in dealing with identity theft and cyber bullying.
While there are other personal cyber insurance plans, StarHub’s initiative, which is underwritten by Chubb Insurance and touted as a first for a telco in Singapore, also covers unauthorised transactions made under payment cards.
“Cyber crimes are on the rise, and as the cases strike closer to home, we want to give our customers peace of mind, knowing that StarHub will be there to help them get back on their feet during difficult times,” said Mr Johan Buse, who leads the telco’s consumer business group.
Items purchased online that are not delivered or do not match the seller’s description will be covered for up to $750, said the telco in a statement on Friday (Feb 4).
The insurance will also cover unauthorised transactions made under payment cards such as debit and credit cards, capped at $750 as well.
As for cyber bullying and identity theft, the plan will pay up to $8,500 to cover legal costs and up to $1,000 for counselling fees to help victims deal with trauma.
Victims of identity theft can also claim for costs incurred in recovering their stolen digital identities.
For example, victims can claim up to $1,000 to cover the loss of personal income caused by taking time off from work to restore or rectify…
