QIC Launches Qatar’s First Personal Cyber Insurance Covering Digital Fraud

Qatar Insurance Company (QIC) has launched Qatar's first personal cyber insurance product designed to protect individuals from a range of cyber risks such as cyberattacks, online shopping fraud, identity theft, phishing scams, cyber extortion, and damage to connected devices. This innovative coverage is offered as an optional add-on to existing home contents, travel, or motor insurance policies at an annual premium of QAR 100 (approximately US$27). The policy provides financial support for restoring digital systems and data, covers ransom payments, and theft of funds, ensuring customers can recover from cyber incidents without bearing the full financial burden. QIC's CEO, Salem Al Mannai, highlighted Qatar's high internet penetration and the importance of empowering people to navigate the digital world confidently while aligning the product with the National Cyber Security Strategy 2024–2030 and Qatar National Vision 2030. The introduction of this insurance reflects growing concerns over cyber threats amid increasing digitalization and aims to enhance consumer confidence and protection in an increasingly connected society. Despite advancements in AI for claims processing, some consumers remain cautious about the technology's transparency and fairness, underscoring the need for robust cyber risk management solutions.