PICC, Kingsoft Introduce Online Shopping Insurance
Tencent Tech, 7/11/12
People's Insurance Company of China (PICC) and Kingsoft Network Technology, Kingsoft's (3888.HK) anti-virus subsidiary, today launched China's first online shopping insurance product to protect consumers from e-commerce fraud.
According to the China Internet Network Information Center (CNNIC), over 60 mln online shoppers were exposed to phishing sites last year, with nearly 40% losing over RMB 500 each, totaling at least RMB 30.8 bln in losses.
User's of Kingsoft Network Technology's Kingsoft Internet Security anti-virus software and Cheetah web browser will be insured for up to RMB 8,000 in online shopping losses a year. If a user is the victim of online shopping fraud, Kingsoft Network Technology will provide advance compensation within seven working days. Users do not need to pay any fees, as Kingsoft will handle all claims with PICC.
Kingsoft said the product has been approved by the China Insurance Regulatory Commission in accordance with all relevant laws.
Keywords: national statistics Kingsoft e-commerce insurance Internet security PICC Kingsoft Internet Security anti-virus 3888.HK Kingsoft Network Technology scam Cheetah
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