FPG Insurance has announced MyCyberProtect Mate, which provides protection against cybercrime ranging from online fraud to cyberbullying and identity theft.
MyCyberProtect Mate aims to provide customers assistance to Cyber Risks, “Customer will just need to call the 24/7 call assistance hotline to inform the issue. The customer will then be guided through the process of immediately securing the customer’s e-accounts and the claim documents that need to be prepared/submitted,” said Chief Underwriting Officer, Sharon Navarro. “If fraud resulted in the loss of USD 1,000, we will reimburse the exact expense up to the limit of the coverage.”
Navarro also highlighted that FPG wants to provide assistance to victims of cyberbullying through reimbursement of costs for psychological consultation. The “MyCyberProtect Mate” wants to become both your defense and offense partner to remedy online breaches.
MyCyberProtect Mate insurance solution comes with the following features:
• On online purchases: Insurance claim on items bought online that have not been delivered to the customer at all;
• On Internet payment scams: Covers financial losses arising from unauthorized transfer of funds to online bank accounts, e-wallets, or credit/debit cards caused by phishing and social engineering, pharming, malware, and fraudulent electronic fund transfer;
• On identity theft: Compensation to recover, for example, public records in the course of processing a new passport and other related documents.
• On cyberbullying: Financial assistance for psychological consultation, relocation costs, online reputation restoration, and legal expenses of the insured bullied, provided the incident is reported within 72 hours of discovery.
• 24/7 assistance services: Round-the-clock hotline manned by dedicated cybersecurity experts who are ready to provide support to the insured;
“This new product is part of our continuing efforts to provide Filipinos with innovative non-life insurance product solutions. My Cyber Protect Mate will help keep safe every Filipino’s hard-earned money,” said Gigi Pio de Roda, President, and CEO of FPG Insurance Co., Inc.