In this digital age, your most important possessions could be kept online rather than in a safe. A growing number of people and companies are realising the unsettling fact that the majority of conventional insurance policies do not protect against cyberattacks, as cybercrime continues to rise throughout the United Arab Emirates.
Cybercrime is becoming a serious financial hazard, involving ransomware assaults, compromised bank accounts, stolen personal information, or a deepfake fraud that drains your cash. The UAE Cybersecurity Council claims that ransomware assaults increased by 32% over the previous year, indicating a notable increase in cyberthreats in the nation. There has also been an increase of up to 18% in other types of cyberattacks, such as frauds, Distributed Denial of Service (DDoS), and phishing. With UAE residents spending more of their lives — and dirhams — online, it may be time to consider cyber insurance. Previously seen as a speciality insurance, it is quickly becoming into a crucial component of financial planning.
One of the top insurance companies in the Middle East and North Africa (Mena) area, GIG Gulf, just introduced the first house insurance plan in the United Arab Emirates that comes with built-in cyber-fraud protection. Every member of the family is covered by “Cyber Comfort,” which also gives users immediate access to a specialised cyber resolution team that is on call around-the-clock to help victims recover from a digital intrusion.
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