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GInsure Send Money Protect

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Send Money Protect is a personal cyber insurance product that secures your GCash Express Send money transfers to another GCash Account for up to PHP 15,000 in total, should you become a victim of (1) Social Engineering, (2) Account Takeover, or (3) Online Shopping Fraud.

 

This group policy is underwritten by our insurance partner, Insurance Company of North America (a Chubb Company), hereafter “Chubb”.

 

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Coverage of Send Money Protect

Enrolling to Send Money Protect gives you coverage from these types of fraud:

Social Engineering

This refers to an attack that is used to deceive you into opening emails, instant messages, text messages, and websites from entities or people whom you trust and/or know, with the purpose of forcing you into transferring funds via the GCash Express Send money transfer feature (such as but not limited to phishing, malware phishing, spear phishing, smishing, vishing, and pharming).

Coverage & Benefits: Once the claim is approved, our insurance partner, Chubb, will reimburse the amount that you were tricked into transferring (up to the maximum benefit amount of PHP 15,000 total).

Some Examples:

  • You were convinced to Send Money to a legitimate contact from the user's online platform without knowledge that the account used by your online contact was already hacked

  • You were tricked into making a Send Money transfer from your GCash account to a scammer who was impersonating a reputable charity organization

  • You were tricked into authorizing a transfer of funds to a scammer who was impersonating a GCash representative. The scammer requested an OTP ‘verification’ when in fact the scammer used the information you provided to facilitate a fraudulent Send Money transfer from your GCash account

 

Account Takeover

An attack where a third party gains unauthorized access to your GCash Account and then makes unauthorized Express Send money transfers (usually resulting from phishing, spyware, or malware scams).

Coverage & Benefits: Once the claim is approved, our insurance partner, Chubb, will reimburse you for the unauthorized transaction(s) made up to 2 weeks prior to the first reporting of the event to GCash (up to the maximum benefit amount of PHP 15,000 total).

Some Examples:

  • Your GCash account details were stolen via a phishing attempt, and it was subsequently discovered that unauthorized Send Money transaction(s) were made on your GCash account
  • A malware was maliciously installed on your device allowing a scammer to take over your GCash account and make unauthorized Send Money transactions without your knowledge
  • You downloaded a rogue app that has a malware that scans and read log-in details, which allowed the scammer to access your GCash account and perform a Send Money transaction from your account

 

Online Shopping Fraud

Refers to an attack where you make a GCash Express Send money transfer to purchase an item or service online from a third party for personal use, but the website/trading platform turns out to be fraudulent.

Coverage & Benefits: Once the claim is approved, our insurance partner, Chubb, will reimburse you the value of the transaction(s) made to the fraudulent online merchant (up to the maximum benefit amount of PHP 15,000 total).

Some Examples:

  • You purchased an item via an online sales advertisement; however, no receipt or proof of purchase was provided after you made your Send Money payment. The webpage subsequently went missing and it turns out that the webpage was a fraudulent website
  • You performed a Send Money transaction to book a scheduled cleaning service from an online advertisement, however, no service was rendered on said schedule and all the contact details on the ad turned out to be fabricated
  • You performed a Send Money transaction to make a purchase from a webpage that was impersonating a legitimate online merchant and only realized it after the transaction was made

 

 

Exclusion from Coverage

This policy will not cover you for losses arising from:

  • Any GCash Express Send money transfer from a Business Account or any business-related transaction; or
  • Any loss arising directly or indirectly from, or in connection with, your employment such as any corporate-related transactions
  • Any advance fee fraud where you are promised goods, services, and/or financial gains, in return for an upfront payment including payment by GCash Express Send money transfer
  • Any GCash Express Send transaction(s) not made by you that requires an OTP to proceed.
  • Any incident prior to the start date of your insurance cover or after cancellation.
  • Any loss resulting from gambling, lottery, contest, promotional game, or other games of chance.
  • Losses which are recoverable from GCash;
  • A potential Enterprise-wide cyber-attack on GCash;
  • Any loss resulting from illegal activity you have engaged in whether knowingly or unknowingly.
  • Any advance fee fraud where you are promised goods, services and/or financial gains, in return for an upfront payment including payment by GCash Express Send money transfer

Each policy also has additional situations that are not covered as shown in the table below:

For the full list of policy exclusions, please refer to the Send Money Protect Group Policy.
Policy Exclusions
Social Engineering
  • Any Send Money transfer from a Business Account
  • Any advance fee fraud where you are promised goods, services and/or financial gains, in return for an upfront payment including payment by GCash Send Money
Account Takeover
  • Cash advances made with your GCash account;
  • Unauthorized transactions made on your GCash account resulting from loss or theft of your Electronic Device(s) connected to your GCash Account;
  • Unauthorized transactions made on your  GCash Account more than two (2) weeks prior to your first reporting of the incident to the relevant authorities;
  • Charges incurred by a relative or a member of your family, or by a person you authorized to use your GCash Account;
  • Losses that result from, or are related to, business pursuits including the your work or profession;
  • Transaction made or authorized by you or the person you authorized to use your GCash account using One Time Password (OTP), PIN, password, and similar account security services;
  • Transactions where you  have  knowingly disclosed your One Time Password (OTP), PIN, password, and similar e-money account security services to a third party; or
  • Any losses and/or unauthorized charges due to any kind of system, malware and/or data hacks and/or any losses incurred because of the theft or misuse of any data or databases under the control of financial institutions, merchants, retailers, or payment system providers including but not limited to GCash.
  • Unauthorized transactions made on your GCash account resulting from loss or theft of your Electronic Device(s) connected to your GCash Account.
  • Unauthorized transactions made on your GCash Account more than two (2) weeks prior to your first reporting of the incident to the relevant authorities.
  • Charges incurred by a relative or a member of your family, or by a person you authorized to use your GCash Account.
  •  
Online Shopping Fraud
  • Online purchases where cash, crypto-currency such as bitcoins, voucher or reward point is the form of payment.
  • Unauthorized transactions on your GCash Account as a result of this fraud leading to the cloning of your GCash Account, or to theft of your identity[VFS1]
  • Any goods or services purchased from a natural person through a private transaction.
  • Any Online purchases where crypto currency such as bitcoins, voucher or reward point is the form of payment.

 

Eligibility to avail of Send Money Protect

You can avail of Send Money Protect if you are:

  • At least 18-85 years old
  • A Filipino citizen or foreigner who is a legal resident of the Philippines
  • A Fully Verified GCash user

 

Note: You cannot purchase Send Money Protect on behalf of someone else. The Insured will be the GCash account owner who has successfully performed a Send Money transaction, enrolled to Send Money Protect, and paid the premium via their GCash account.

 

Enroll Payment in Send Money Protect

The premium for every enrollment to Send Money Protect is PHP 30.

When you send PHP 1,000 and above, the option is auto-ticked and the amount of the premium payment will be automatically deducted from your GCash wallet upon purchase. Please make sure you have sufficient balance in your GCash wallet to enroll in Send Money Protect. You can untick the button if you are not ready to avail of the service.

 

The coverage period of Send Money Protect is effective for 30 calendar days. The insurance coverage will start on the day you enroll and make your payment for the premium via GCash. You can avail of only one (1) policy every 30 calendar days, meaning you only pay PHP 30 once every month upon enrollment and you will be insured for all applicable Send Money transactions within the coverage period. Upon expiration of your active policy, you will be shown the Send Money Protect enrolment offer the next time you make a Send Money transaction in the GCash app.

 

Follow the steps below to enroll in the insurance while making a Send Money transaction in the GCash app.091923_GCash_HelpCenter_SendMoneyProtect.jpg

 

You will receive a COC (Confirmation of Cover) from our insurance partner, Chubb, within 24-48 hours after successful enrolment to Send Money Protect as part of your GCash Send Money transaction.

 

Claims

Note: In order to file for a claim you must retain documentary evidence of the fraud and submit supporting documentation to GCash and Chubb depending on the particular benefit. The claims process will take around 5-7 business days upon filing of the claim.

  1. Click here to report your incident and fill in the additional information required
  2. Prepare your Send Money Protect Policy ID. This is sent to your GCash-registered email within 24-48 hours after a successful enrollment
  3. Proceed to file your claim with our insurance partner, Chubb. There are two ways to file a claim:
    • On the GInsure homepage, tap My GInsure and select your Send Money Protect policy which will lead you to “MyPolicies”. Select “Submit a claim” under the “Quick Actions” tab, and follow the instruction prompts
    • You may also file your claim at www.chubbclaims.com.ph

Depending on the benefit you are claiming, you will be asked to submit the following documents and undertake the following steps:

For Social Engineering
  1. File a police report and provide Chubb with the reference number
  2. Provide a copy of the original SMS, chat communication, email or other method of digital communication that leads to Send Money transaction or request for funds
  3. Provide documentary proof that the Send Money transaction was made: GCash transaction receipt with reference no., GCash SMS notification, GCash transaction activity history
  4. Provide a copy of the emails or screen prints of chat communication etc., that demonstrates that the customer did reasonably try to recover the paid value.
For Account Takeover
  1. File a police report and provide Chubb with the reference number
  2. Notify GCash to suspend the account
  3. Provide documentary proof of the unauthorized transaction(s): GCash transaction receipt with reference no., GCash SMS notification, GCash transaction activity history
For Online Shopping Fraud
  1. File a police report and provide Chubb with the reference number
  2. Provide screenshots of the fraudulent website and communications with the merchant’s website support
  3. Provide documentary proof of the fraudulent transaction using Send Money to pay the merchant with the fraudulent website/page
  4. Provide documentary proof that that merchant has been contacted and remedy is not successful (e.g. email or SMS or chat conversations with merchant website support) 

Upon submission of the complete documents, you will receive an email within 2 business days with your claim number and a PDF of all the information you submitted. 

If you were not able to receive an email, please contact Chubb.

Once your claim is approved, a settlement letter will be sent to you. You will receive the settlement via bank transfer using your provided bank details. If you were not able to provide bank details, your settlement will be via cheque.

 

Cancellation of Policy

A policy can only be canceled 7 days after the date of the enrollment of the policy. To proceed with canceling your policy, please click here to file a request via the GCash Help Center.

 

Contact Chubb

If you have additional questions about your policy, filing of claims, or status of claims filed, please contact Chubb at (+632)7756-5410, Monday to Friday, 9:00 AM-5:00 PM, excluding public holidays.

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