The cyberbullying insurance is here. Do you need it?

0


If you are cyberbullied, you may be entitled to compensation.

This is the pitch that insurance companies sell to families and individuals, cyberbullying among adults, tweens and teens is becoming more common.

Insurance tech startup Waffle in May started to offer stand-alone cyber protection policies underwritten by Chubb which include cyberbullying and other cyber risks such as identity theft or extortion. The policies are aimed at helping victims recover costs associated with cyberbullying, such as legal fees, mental health services, tutoring to cover missed tuition or relocation costs if the bullying was so severe that it was bullying. ‘a student had to move to a new school.

“Notice me, in five years all the major insurance companies will be offering this,” said Quentin Coolen, CEO of Waffle.

Personal cyber insurance is still an emerging category. Only about 10% of US consumers who own internet-connected devices said they had insurance to help them recover from a cyberattack, and 74% said they didn’t want to, or didn’t know if they were. ready, to pay more for a cyberattack. -risk coverage, according to a 2019 survey commissioned by the Insurance Information Institute, an industry trade group.


Share.

Comments are closed.