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HSB cyber survey shows 37 percent of Americans hacked
Young adults biggest targets, but all ages are at risk
HSB's latest cyber survey has found that more than one in three Americans were hacked in the past year and young adults were the most likely victims.
Consumers can spend thousands to recover
The study by Zogby Analytics for HSB also revealed that victims of cyber crimes almost always spent money to recover from an attack, primarily to restore data and purchase software. In 23 percent of the cases, people spent between $1,000 and $5,000 per incident, while 56 percent spent less than $500.
Online data is driving cyber threat
“Consumers rely on smartphones, personal computers and tablets for virtually every aspect of their lives,” said Timothy Zeilman, vice president and counsel for HSB. “The threat to cyber security for individuals and families is growing and the cost to individuals can be significant.”
Computer viruses are the biggest danger
Almost half of those who experienced a cyber attack (42 percent) were age 18-24; compared with 34 percent age 55-69 and 22 percent age 70 plus. The most common damage was a computer virus or other unwanted software (69 percent).
Online fraud is another serious risk
Online fraud and theft of money or property was reported by 18 percent of those surveyed. Younger people were the biggest targets, with 26 percent of victims ages 18-29, compared with 11 percent ages 65 and older.
Cyber extortion is a growing problem
A cyber extortion threat or demand was experienced by 11 percent of respondents and 71 percent of the incidents involved demands for money to unlock fraudulently encrypted data. More than half (53 percent) refused to pay, although some paid multiple times — 15 percent of them four or more times.
Consumers are looking for cyber insurance
The threat of cyber attacks against individuals is increasing the need for cyber insurance to protect people and their sensitive information. Once purchased primarily by businesses, consumers are looking for coverage to help fill the gap left by most homeowners and renters policies.
HSB Home Cyber Protection™ fills a coverage gap
HSB's Home Cyber Protection™ insurance is the first consumer cyber program offering a suite of coverage and services for computer attacks. It includes cyber extortion, online fraud and the breach of personal information involving smart phones, computers and connected home devices.
Learn how to add the program to your policies
Contact your HSB representative to learn more about adding HSB Home Cyber Protection™ to your personal lines coverage.