ICICI Lombard has introduced India's first motor cyber insurance cover, addressing the growing vulnerability of connected vehicles to cyber threats. According to reports from The Hindu BusinessLine, the cover is designed to protect customers against cyber incidents affecting insured vehicles, with the product available as an optional rider for policyholders who wish to opt for it. As reported by ICICI Lombard, this policy specifically targets the rising cyber risks in digitally connected vehicles with advanced software, providing comprehensive protection for both electric and traditional cars that rely on connected technology.
As reported by The Hindu BusinessLine, modern vehicles are increasingly becoming connected digital devices, with smartphones, infotainment systems, navigation, and payment apps creating new vulnerabilities. Gaurav Arora, Chief Commercial Lines & Motor (Underwriting & Claims) explained that electric vehicles are inherently more software-driven, while conventional fuel-powered cars now come equipped with advanced software and connectivity features, making them vulnerable to cyberattacks. According to ICICI Lombard, with more vehicles using apps for navigation, payments, and entertainment, the risk of hacking and data theft is rising significantly, creating the need for specialized cyber protection.
According to the product details reported by The Hindu BusinessLine, the Motor Cyber Cover addresses multiple cyber risks including unauthorised access, hacking, digital compromise, cyber extortion, theft of funds, and legal liabilities arising from cyber attacks through vehicles and connected devices. The cover extends to losses resulting from hackers gaining access to financial data or digital assets through connected vehicles, as well as incidents such as cyber-enabled vehicle immobilisation where attackers demand ransom to restore access. As reported by ICICI Lombard, the policy specifically shields against financial data hacks, stolen funds, and even hackers locking up your car or damaging its software, providing comprehensive protection for digital-dependent drivers.
As reported by The Hindu BusinessLine, the cover provides comprehensive financial protection including ransom payments for digitally hacked vehicles making them inoperable, restoration of access and reinstallation of software affected due to cyber incidents, and indemnification for direct financial loss arising from unauthorised access of digital wallets. According to ICICI Lombard, if your vehicle gets hit by a cyberattack, you can claim reimbursement for restoring access or fixing hacked systems, giving peace of mind to anyone whose daily drive depends on digital systems. The product addresses the clear need to address emerging risks in the digitally connected ecosystem.
