FWD Singapore Adds Cyber Fraud Coverage to Its Home Insurance

Pan-Asian insurance company FWD Singapore announced the expansion of its home insurance coverage by protecting homeowners from cyber fraud through its complimentary FWD Cyber insurance.

Customers who now purchase or renew FWD Home insurance will receive the complimentary FWD Cyber insurance which is available for twelve months and covers online shopping fraud and fraudulent electronic transfers.

FWD Cyber insurance provides coverage for some of the most common scams; up to S$5,000 in coverage for financial loss arising directly from an online marketplace fraud; and up to S$5,000 in coverage for financial loss to customers’ bank accounts or digital wallets arising directly from a cyber event.

The FWD Cyber insurance covers the person, instead of the device, which means that customers are financially protected regardless of what devices they use.

Upon purchasing or renewing FWD Home insurance, customers will receive their FWD Cyber insurance redemption email within a few days. The customer can then go onto the FWD SG mobile app to complete the redemption.

Adrian Vincent

“Having a peace of mind at home is more than just protecting the physical contents in one’s home, it should also include cyber protection for other activities such as online shopping purchases and electronic transactions.

FWD is committed to meeting the customers’ evolving needs and ensuring that our customer’s ‘home’ is fully protected. We believe it’s crucial for people to protect themselves from potential financial impact resulting from cyber fraud,”

said Adrian Vincent, CEO of FWD Singapore.

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• Source: https://fintechnews.sg/71623/insurtech/fwd-singapore-adds-cyber-fraud-coverage-to-its-home-insurance/