Chubb Transaction Protection Cover / Personal Cyber Insurance

Partner with Chubb to protect your customers against frauds that result in financial loss.

Every day, we take steps to protect ourselves and our families from the unexpected. And when it comes to insurance, we often focus on our home and cars. But it’s just as important to protect yourself from what can come through your Wi-Fi.

Our Product

With all the ways technology has enhanced our lives, we’re committed to providing clients with comprehensive cyber protection that helps you avoid the lasting impact of emerging concerns – like social engineering, account takeover, unauthorized transactions.

What is Transaction Protection Cover?

As the digital world evolves, so does cybercrime. Transaction Protection cover is a way to help prevent frauds from happening to you and your family, and to resolve the issues you face if you become a victim.

Coverage details

Social Engineering

Reimbursement after money transfer to a fraudulent account following a phishing/ smishing/ vishing attack. Social engineering is a scam that tricks customers into opening or responding to emails, text messages, phone calls and websites that appear to be from legitimate entities or people who they trust and/or are known to them with the purpose of convincing them to transfer funds.

Account Takeover

Reimbursement for unauthorized transactions on the customer’s account in the event they are a victim of an account takeover scam, whereby a fraudster gains unauthorized access to their account by deception. Typically, this could result from phishing or spyware, where the customer clicks a link to a website thinking it is genuine, but have their credentials swiped.

Unauthorised Transactions

Reimbursement for unauthorised transactions in following cases:

On a lost or stolen debit / credit card.
Where card is still in possession of the customer.
Where customer’s card is skimmed or cloned at the point of sale or ATM.

ATM Robbery

Reimbursement where the customer is forced, by use of threat or violence to make a cash withdrawal from an ATM or cash out agent or suffers aggravated theft whilst withdrawing cash or within 2 hours of withdrawal.

Examples

ACCOUNT TAKEOVER

Covered when customers’ accounts have been taken over and funds are transferred out

PHISHING SCAM
Customer mistakenly provides account details on a link sent by email thinking that it was a legitimate request by the bank

SPYWARE / MALWARE SCAMS
Customer purchases a second-hand mobile phone that contains spyware which obtains their bank details which is used to lock the customer out and transfer funds from their account

SCAM PROTECTION

Covered when an impersonator dupes customers into transferring funds

IMPERSONATION SCAM
Customer is led to believe that their loved one/friend requires money and transfers funds into the actor’s account

INSTITUTION SCAM
Customer is led to believe that they are required to pay a fine or a service fee to a legitimate institution if not they will incur more fines or face a lawsuit

Get a quote