NordVPN extends cybersecurity empire with cyber insurance
Users of one of the best VPN services on the market can now receive compensation if they fall victim to a cyber attack.
NordVPN has just added some new cyber insurance benefits to the top tier of its VPN subscription. The provider is working with a number of select insurance companies in an ongoing effort “to bridge the cyber protection gap and support its customers affected by cyber criminals.”
At the time of writing, all subscribers of the NordVPN Ultimate (formerly Complete) bundle plan based in the UK or US can take advantage of this extra protection at no extra cost.
What are NordVPN's cybersecurity insurance benefits?
“While cybersecurity and privacy tools help protect internet users from a technical perspective, human error remains a critical factor in cybersecurity and no one is completely protected from scams,” said Tomas Okman, co-founder and co-CEO of Nord Security.
The tactics used by cybercriminals are becoming increasingly sophisticated, Okman also points out, especially as AI becomes widespread. This means that even cyber-savvy users can easily fall for a scam. The rise of phishing attacks and data breaches in 2023 confirm such a trend.
In concrete terms, a recent survey by NordVPN showed that almost five million Britons were scammed this Black Friday. In total, 24% of the UK population has been affected by online shopping scams (approximately 12 million people), with one in five victims suffering a financial loss of more than £1,000.
On the other side of the ocean, hackers seem more interested in identity fraud. As NordVPN's research shows, at least five million people in the US have had their online identities stolen and sold on bot markets.
Fortunately, victims in both countries now have a way to get some of their financial losses reimbursed with NordVPN's new insurance benefits.
UK customers can claim refunds of up to £5,000 within a 12-month period if they have not been able to recover the lost money through their bank, credit card company or other financial services provider. Those living in the US can seek up to $1 million for the costs they incur in the process of restoring their identity and up to $100,000 if they are affected by cyber extortion, for example if they fall victim to ransomware.
NordLabs from NordVPN is here! NordLabs is a place where advanced cybersecurity tools are born. This allows you to try out new online security tools, evaluate them and contribute to overall safety online. Sign up today: https://t.co/hwAScsenEv pic.twitter.com/vGHBylXpzOAugust 28, 2023
NordVPN's new cyber insurance is another step in the provider's mission to best protect its customers as online threats evolve.
In August, it launched NordLabs to provide a platform for engineers and developers to test new ideas and approaches to ever-changing online security and privacy issues. Released a month later, Sonar was the first experimental project to harness the power of AI to fight back against phishing.
As mentioned, the new cyber insurance is now available to all NordVPN Ultimate subscribers in the UK and US at no extra cost. For a monthly fee of less than $6, the bundle also includes a password management tool, NordPass, and other advanced features, including 1 TB of encrypted cloud storage.
“With cyber protection benefits backed by insurance in our product bundle, we aim to complement our technology solutions, bridge the cyber protection gap and support our customers affected by cyber attacks,” said Okman.
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