February 28, 2013 6:31 pm
is there any insurance for credit card , covering loss due to fraud , including through hacking of data, in India? please give details, if any.
Dear Mr. SHAH
I want add one more thing that CPP will not cover online fraud or duplication of card by theft of your personal details & cvv number etc…
great information for me , as i am afraid most for the loss due to such fraud. i guess the CPP may cover loss only due to cards used physically by others unauthorized in case of its physical theft or lost somewhere. thank you for valuable information.
Many leading lenders provide Card Protection Plan. Do check the areas that are covered under the CPP suiting your needs before opting for it.
thank you ,both of you.
Dear Bharat, just an small addition to the info provided by dear Chethan S, almost all credit card issuers are now offering this CPP. you are free to chose from any one of your CC issuer & may enroll almost all debit & credit card in a single plan.
Reportedly ICICI offers such a plan for their cards called ‘Card Protection Plan’. From their website: “ICICI Bank introduces the CPP Card Protection, India’s first comprehensive card protection service. It can be used in the event of card loss, theft, any related fraud and emergencies. You can safeguard all financial and non-financial cards including credit, debit, loyalty and membership Cards with CPP Card Protection. In case of card loss or theft that may have occurred anywhere in the world, all that you need to do is call CPP’s 24-hour helpline, to report loss of card(s).”
All this comes at a single premium of ₹1680.
More info here: https://www.icicibank.com/online-services/cpp/index.html
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