Qatar Insurance Company (QIC) has unveiled a personal cyber insurance product designed to mitigate financial exposure for individuals in Qatar facing online threats.
The launch reflects growing awareness of cybersecurity risks among consumers, particularly in markets with high digital engagement.
The coverage, which QIC stated 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).
Coverage targets online fraud, ransomware, identity theft
It also offers support for data restoration and compensation for ransom payments in applicable scenarios.
QIC group CEO Salem Al Mannai cited the country's 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 said.
He also highlighted the policy’s alignment with national priorities, referencing Qatar’s cyber strategy for 2024–2030 and broader development goals under the Qatar National Vision 2030.
“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,” Al Mannai said.
The QIC initiative emerges 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, compounded by operational complexities in hybrid IT environments, have forced insurers and businesses alike to rethink how they manage risk.
At the same time, GlobalData’s consumer research found that while AI tools are appreciated for enhancing efficiency – such as in faster customer support and claims processing – many policyholders still harbor reservations about transparency and fairness.
Beatriz Benito, lead insurance analyst at GlobalData, emphasised that customer confidence in AI remains limited.
“Many consumers find that the technology is not yet sufficiently developed to be adopted at scale, eroding their trust,” she said.
