Tiq Personal Cyber Insurance explained: benefits, limits and the fine print
Etiqa's Tiq brand sells a S$25,000 family cyber policy for S$109 a year, with a strict rule on ransom payments. Here is what the published material says.
Tiq Personal Cyber Insurance, sold direct by Etiqa Insurance Singapore under its Tiq brand, is a standalone household cyber policy covering online fraud, ransomware and identity theft under a single annual limit. This is a walk-through of what the insurer's published page and policy wording state, current as of the version reviewed.
Plan type and how the cover is structured
This is a family cyber policy: one policy, one annual claim limit, covering you and your family together rather than per person. According to the product page, the annual limit is S$25,000, shared across all the benefits under the policy rather than a separate S$25,000 pot for each type of claim, and the annual premium is S$109, inclusive of prevailing GST. Etiqa's own material notes that having both premium and sum insured clearly published is relatively unusual for cyber cover in the local market, where it is more often bundled as an add-on to another policy with neither figure stated separately.
What the published material says it covers
According to Etiqa's page and policy wording, the plan responds to:
- Cyber fraud and stolen funds: financial loss from theft of funds from a personal bank account or digital wallet with an online merchant, fraudulent online purchases, email and instant-messaging scams, cyber impersonation, and unauthorised online transactions using stolen card details
- Cyber extortion: compensation for a ransom payment made under a cyber extortion threat, such as ransomware
- Identity theft restoration costs, subject to a S$250 deductible
- Data and device restoration after a malware infection, arranged through the claims handler Crawford, reachable on 6632 8639
The condition that matters most: ransom payments
One clause is worth flagging on its own. Etiqa's material states that for a cyber extortion claim, the process requires a police report and Etiqa's agreement before any ransom is paid, and that paying a ransom first, without that prior agreement, can forfeit the claim entirely. This is a materially different process from simply paying a ransom and then filing a claim for reimbursement afterwards, and it means the sequence you follow at the moment of an actual ransomware incident affects whether you are covered at all, not just how quickly you are reimbursed.
What is not fully spelled out
The published material reviewed does not state whether cyberbullying and harassment are covered, flagging this specifically as something to check in the policy wording rather than confirming either way. It is also worth confirming directly how the S$25,000 annual limit is allocated if you have more than one type of claim in the same year, since the limit is shared across benefits rather than kept separate per benefit type.
The documents that actually govern
Etiqa's approach across its products is that the policy wording governs where it disagrees with the product page, and Tiq Personal Cyber Insurance is no exception. The policy wording linked above is the document that sets out the exact definitions, exclusions and claims process, including the ransom payment sequence described. A separate brochure is also published; treat it, like the product page, as a summary rather than the governing text.
What to check before buying any personal cyber policy
Beyond this specific plan, ask any cyber insurer: what the claims process requires before you take action during an active incident (particularly for extortion or ransomware), what the annual limit covers in aggregate versus per claim type, and whether cover extends to all family members on one policy or is priced per person. These questions matter regardless of which insurer's cyber policy you are comparing.
Talk to an advisor
The ransom-payment sequence in this policy is the kind of detail that only matters at the worst possible moment, during an active incident, which is exactly why it is worth understanding in advance rather than during a crisis. An advisor on the portal can walk through the current policy wording with you, or you can ask our assistant to explain the claims process before you buy.
Sources
This content is educational information from a licensed advisor, not financial advice. Product details vary by insurer — verify specifics with an advisor.
