Cyber insurance coverage grows to include trolling, stalking and identity theft

India’s digital ecosystem is busier than ever, with over 85% of households owning smartphones and UPI dominating digital banking among youth. Additionally, around 86.3% of Indian households had access to the internet within their premises, according to the Ministry of Statistics and Programme Implementation (MoSPI). However, this rapid expansion has also widened the threat landscape.

According to a PwC report, nearly a quarter of Indian enterprises surveyed reported losses exceeding USD 1 million (about  ₹8.8 crore) from cyber breaches over the past three years, with the risk especially high among companies earning USD 5 billion or more annually.

While these numbers highlight intensifying risks for individuals, they also reaffirm the growing need for reliable cyber insurance protection that can cushion financial losses and provide essential support during a cyber incident.

Cyber budgets are increasing, although cautiously, with 87% of organisations in India planning to boost their cybersecurity spending over the next year, according to a PwC report.

To combat rapidly evolving digital risks, SBI General Insurance encourages individuals and families to adopt comprehensive cyber protection as an essential part of digital hygiene and personal security.

SBI General Insurance’s Cyber VaultEdge product provides cyber protection against a wide range of e-transaction related risks, identity theft, online reputation issues, including social media trolling, bullying, extortion, and stalking. With no deductibles, simple documentation, and flexible coverage limits, the solution makes it easy for individuals to access meaningful cyber protection without complications. It ensures that individuals receive both financial help and emotional support to handle the aftermath of such incidents.

S. Vishwanathan, Head - Underwriting & Reinsurance, SBI General Insurance, said, “Cyber risks today extend far beyond conventional data breaches. With individuals and businesses relying more heavily on digital platforms, threats have become significantly more sophisticated and frequent. This shift underscores the growing need for protection that can keep pace with the evolving landscape. In an era of rising digital dependency, comprehensive cyber cover is no longer optional, it has become essential for every digital user.”

SBI General’s cyber offering provides comprehensive support throughout every stage of recovery. It includes legal expenses, data restoration costs with IT specialists, and psychological consultations to help individuals manage trauma from cyber incidents. With this all-encompassing approach, SBI General Insurance reaffirms its dedication to supporting people through all phases of life in a progressively digital world.