Recent data from the Federal Trade Commission found that millennials are reporting fraud a lot more often than other groups, with an average loss around $200. Seniors reported less frequently, but their average loss is $1,200.
64 percent of Americans have an online account involving health, financial or other sensitive data. As more and more people rely on the internet to do business and manage their personal lives, their information has the potential to become susceptible to a cyber breach.
Your home is full of cyber risks. Too many homeowners don’t realize this until it’s too late. Whether it’s your computer or mobile device, or your laptop or connected home technology, you need the right protection for the exposures that come with modern connected life.
Personal cyber insurance policies will give insureds security in the case of a cyber attack, allowing them to file claims for ransom and extortion payments, identity theft fees, and data restoration expenses related to a personal cybersecurity breach.
With HSB Home Cyber Protection™, you can gain a suite of innovative cyber coverage for computer attacks, cyber extortion, online fraud and the breach of personal information of others involving smartphones, computers and connected home devices.
- Computer Attack, to remove malware and reprogram computers and tablets, Wi-Fi routers or other internet access points
- Home Systems Attack, to restore devices connected to the internet, including smartphones, thermostats, smart appliances, and security and monitoring systems
- Cyber Extortion, with professional assistance on how to respond to a ransomware attack and payment of ransom when approved
- Online Fraud, for losses due to identity theft, phishing schemes, illegal bank and credit card transfers, forgery, counterfeit currency, and other deceptions
- Data Breach, including forensic IT and legal reviews, notification and recovery services when private non-business data entrusted to an individual is lost, stolen or published.
In addition to offering Personal Cyber coverage, be aware of what information you place online, and how to protect it. Many people have an outdated impression that hackers are just rogue individuals, typically working out of someone’s basement – this is no longer the case. Today, hacking is a full-time job and organized crime in the cyber world is a huge syndicate.
There are a few initial steps that consumers can take to protect themselves, including:
- Personal Cyber Policy: This will protect clients against traditional identity theft, paying any direct monetary losses that are unrecoverable as well as any expenses to investigate and remediate. Policyholders also get the benefit of a specialist to help restore their credit report.
- Install a password manager: Password strength and encryption are important, and using a password manager allows users to not have to rely on memory to remember passwords. The manager will also encrypt users’ information and automatically change his or her password every time they access a site.
- Use available resources: The Identity Theft Resource Center (ITRC) can provide clients with a wealth of knowledge and act as a great educational resource for people needing help to navigate a cyber attack. And best of all, it’s free.
Personal cyber crime is not something that can be prevented. In fact, nearly two-thirds of Americans have experienced some form of data theft.
Contact me if you wish to discuss your risks and we can come up with the best line of defense to protect you.