QIC launches first personal cyber insurance cover in Qatar

By Navneeta Nandan

May 27 - (The Insurer) - Qatar Insurance Company (QIC) has launched personal cyber insurance coverage to protect individuals in Qatar from cyber risks, the company announced on Tuesday.

This policy, which QIC said was an industry first, offers comprehensive cyber coverage and financial protection against cyberattacks, online shopping fraud, credit card fraud, phishing scams, cyber extortion threats, identity theft and cyber damage to their connected devices and wearables. It also covers theft of funds, and ransom payments in the case of cyber extortion.

This personal cyber insurance is available only for existing QIC customers as an add-on coverage to home contents insurance, comprehensive car insurance and travel insurance for Qatari riyal 100 per year.

Salem Al Mannai, group CEO of QIC, said that this policy is in line with the National Cyber Security Strategy 2024-30 and the objectives of Qatar National Vision 2030.

“Qatar is one of the most connected countries in the world, with one of the highest internet penetration rates. People rely heavily on the internet for their daily needs, which can increase their exposure to cyber threats and risks, sometimes leading to significant financial losses,” Al Mannai added in a statement.

In November 2024, QIC signed memorandum of understanding to partner with Ooredoo Group to develop new insurance services by utilizing QIC’s risk management experience with Ooredoo’s telecommunication infrastructure. They had said that this collaboration is expected to produce a range of insurance solutions including cyber insurance for individuals and small and medium enterprises.