Is it worth taking out personal cyber insurance in case you are caught up in a data hack?

The recent Optus and Medibank data breaches in which thousands of Australians had their personal information stolen have heightened public consciousness of the threat of identity fraud.

Information including names, dates of birth, addresses, phone numbers, passport and Medicare numbers, and even healthcare claims have been posted online in the past few months as a result of the high profile breaches.

If you’re worried about your personal information being stolen in a hack or data breach, should you consider investing in personal identity theft protection or is it a waste of money?

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