Cyber security coverage for today’s consumers
Today’s homeowners live in a connected and highly vulnerable world. They are conducting the intricacies of work and daily life from laptops, smartphones, and a host of smart appliances and home security systems. Unfortunately, criminals are hacking into these systems in record numbers, stealing identities and information and causing financial devastation. The average annual payout for a home cyber claim is $10,000. Many insurance companies offer products and services to help homeowners avoid or minimize the risks, along with the know-how to help them respond and get back to normal when breaches and other cybercrimes occur. After offering similar coverages to businesses, insurance companies recognized that the home is also highly connected and subject to vulnerability. That’s why the Home Cyber Protection endorsement is now available to homeowners, renters, and other personal lines consumers. Coverages Online fraud – Pays for financial losses resulting from identity theft, phishing schemes, illegal bank and credit card transfers, and other deceptions Computer attack – Removes malware and reprograms computers and tablets, Wi-Fi routers, or other internet access points Home systems attack – Restores devices connected to the internet, including smartphones, thermostats, smart appliances, and security and monitoring systems Cyber extortion – Provides professional assistance to respond to a ransomware attack and payment of…