Insurance coverage for cybercrime??

[AndyVan]

My business insurance agent is trying to sell me additional coverage on my policy for protection against the possibility of my PayPal account getting hacked. And then he mentioned it would also cover a fraudulent claim. Sure sounds completely unnecessary to me. Doesn’t PayPal already have such “insurance” or other protection already on our accounts?

[kernowlass]

@AndyVan 

Paypal does not provide insurance at all.

Paypal provides 'some' buyer protection but only for non reciept of item or item not as described (terms and conditions apply).

They also provide 'some' seller protection for a few scenarios.

Neither protection is a 100% coverall, so you read up on it and then risk assess your transactions.