Qatar Insurance Company Launches Personal Cyber Insurance Product
Qatar Insurance Company (QIC) has introduced a personal cyber insurance product designed to mitigate financial risks for individuals in Qatar facing online threats. This launch reflects the growing awareness of cybersecurity risks among consumers, particularly in markets with high digital engagement.
The coverage, which QIC states is the first of its kind in Qatar, is available as an optional add-on to existing home contents, travel, or motor policies. The annual premium is QAR 100 (approximately US$27). The policy aims to safeguard against several online risks, including:
- Fraud during e-commerce transactions
- Identity theft
- Phishing
- Ransomware
It also offers support for data restoration and compensation for ransom payments in applicable scenarios.
QIC group CEO Salem Al Mannai cited Qatar’s high digital penetration rate as a key driver for the initiative. “Qatar is one of the most connected countries in the world, with one of the highest internet penetration rates. People rely heavily on the internet for their daily needs, which can increase their exposure to cyber threats and risks, sometimes leading to significant financial losses,” he explained.
The policy aligns with Qatar’s cyber strategy for 2024–2030 and broader development goals under the Qatar National Vision 2030. Al Mannai added, “As Qatar continues its digitalisation at all levels, we are confident that this new product will enhance the confidence with which people in Qatar go online, ensuring our community stays protected while engaging with an increasingly connected world.”
This initiative comes as insurers globally navigate both a surge in cyberattacks and a cautious reception to AI-driven services. According to Rubrik Zero Labs, 90% of surveyed organisations worldwide experienced cyber incidents in 2024. These threats have forced insurers and businesses to rethink how they manage risk.
GlobalData’s consumer research found that while AI tools are appreciated for enhancing efficiency, many policyholders still harbor reservations about transparency and fairness. Beatriz Benito, lead insurance analyst at GlobalData, noted that customer confidence in AI remains limited, stating, “Many consumers find that the technology is not yet sufficiently developed to be adopted at scale, eroding their trust.”
