{"id":4698,"date":"2021-11-29T22:59:39","date_gmt":"2021-11-29T22:59:39","guid":{"rendered":"https:\/\/orekodo.net\/?p=4698"},"modified":"2021-11-29T22:59:39","modified_gmt":"2021-11-29T22:59:39","slug":"do-you-need-personal-cyber-insurance-for-cyberattacks","status":"publish","type":"post","link":"https:\/\/orekodo.net\/do-you-need-personal-cyber-insurance-for-cyberattacks\/","title":{"rendered":"Do You Need Personal Cyber Insurance For Cyberattacks?"},"content":{"rendered":"<p><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/en.wikipedia.org\/wiki\/Computer_security\" target=\"_blank\" rel=\"noopener\">Cybercrime<\/a><\/span> is an increasing threat in this computer age. Your phones, gaming systems, smart home devices, and computers are all liable to a cyber-attack.<\/p>\n<p>Criminals have a lot of entry points to use to cause havoc in your life and your finances.<br \/>\nThere are over 4,000 ransomware attacks every day in the United States since the beginning of 2016, according to the FBI.<\/p>\n<p>You could face huge financial consequences such as legal fees for lawsuits, extortion demands, expenses to restore stolen identities among many others when you become a victim of cyber-crime.<\/p>\n<p>For this reason, a number of insurance companies now offer personal cyber insurance to help alleviate some of these expenses.<\/p>\n<p>Let\u2019s delve into what you should know below:<\/p>\n<h2>What Does Personal Cyber Insurance Cover?:<\/h2>\n<p>This type of insurance is also known as Cyber Attack Insurance is often sold in addition to Homeowners insurance and it can cover a wide range of cyber-crimes which include:<\/p>\n<p><strong>Cyberbullying coverage:<\/strong> This helps to handle harassment online that leads to wrongful termination, lost wages, discipline from school, temporary relocation expenses, legal expenses, and temporary private tutoring.<\/p>\n<p><strong>Cyber-attack coverage:<\/strong> This pays for the deletion of a virus or reprogramming of smartphones, tablets, Wi-Fi routers, laptops, desktops, and other internet access points like security systems and smart home devices.<\/p>\n<p><strong>Cyber extortion coverage:<\/strong> This helps you to recover attacks that prevent you from accessing your personal data and also request a fee to regain control.<\/p>\n<p>This might include assistance from technical experts who will help you regain your files and also reimbursement for any money paid if authorized by your insurer.<\/p>\n<p><strong>Online Fraud Coverage:<\/strong> This pays for any direct financial loss due to issues such as phishing schemes, unauthorized banking, and other types of fraud.<\/p>\n<p><strong>Data breach coverage:<\/strong> It helps pay for the loss of personal data or personal data entrusted to you. Assuming you have the logins of all the employers of the company on a tablet with you and the tablet gets stolen, the coverage would pay the individuals who were affected by the breach.<\/p>\n<h2>Personal cyber insurance might include services such as:<\/h2>\n<ul>\n<li>Lawsuit protection: This covers you for allegations of unintentional invasion of privacy, slander, or online libel.<\/li>\n<li>Access to fraud specialist: This gives you access to specialists who can help through the resolution and recovery process.<\/li>\n<li>Active Cyber monitoring: This helps to limit or prevent cyber loss.<\/li>\n<li>Replacing or repairing electronic data<\/li>\n<li>Replacing or recreating, retrieving personal identification documents or financial documents.<\/li>\n<\/ul>\n<h2>How Does Personal Cyber Insurance Work?:<\/h2>\n<p>You can file a claim if you are a victim of a cyberattack to help pay for your expenses such as legal fees and direct financial loss covered by the policy.<\/p>\n<p>The policy will always have a coverage limit and deductible.<\/p>\n<p>The FBI recommends not paying the ransom as it doesn\u2019t warrant the release of a decryption key and also in most cases the criminals would most likely demand more money after the first ransom is paid.<\/p>\n<p>You need authorization from your insurer before you pay any ransom as some insurance companies might approve payment for extortion cases.<\/p>\n<h2>How Do I Get Personal Cyber Insurance?:<\/h2>\n<p>If you already have a homeowners\u2019 insurance policy, the insurer might add personal cyber insurance as optional coverage.<\/p>\n<p>Some insurance companies offer personal cyber insurance for high-value homes policies only.<\/p>\n<h2>Who Sells Personal Cyber Insurance?:<\/h2>\n<ul>\n<li>\n<h3><strong>Acuity Identity Theft and Cyber Protection:<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Acuity homeowners, renters, and condo policyholders can opt for Identity Theft and Cyber Protection coverage.<\/p>\n<p>This covers issues such as credit card fraud, data recovery, system restoration, identity theft, and cyber extortion.<\/p>\n<ul>\n<li>\n<h3>AIG Family CyberEdge:<\/h3>\n<\/li>\n<\/ul>\n<p>Homeowners insurance policyholders with AIG can add Family CyberEdge coverage as an endorsement.<\/p>\n<p>This covers cyber extortion, crisis management, data restoration, and cyberbullying. The coverage can range from $50,000 to $250,000.<\/p>\n<p>You can also add identity monitoring services to your policy.<\/p>\n<ul>\n<li>\n<h3>Arbella Home Cyber Protection:<\/h3>\n<\/li>\n<\/ul>\n<p>The Connecticut and Massachusetts policyholders can add this coverage to their homeowners\u2019 insurance.<\/p>\n<p>Arbella offers cyber-claims specialist support in addition to covering problems such as data breaches, online fraud, cyber-attacks, cyber extortion, and cyberbullying.<\/p>\n<ul>\n<li>\n<h3>Chubb Masterpiece Cyber Protection:<\/h3>\n<\/li>\n<\/ul>\n<p>Homeowners insurance policyholders of Chubb insurance might already have some cyber protection in their policy.<\/p>\n<p>Protections such as reimbursement for fraudulent credit card charges, identity theft resolution assistance, legal assistance for unintentional online slander, and Document replacement.<\/p>\n<p>Homeowners who opt for Masterpiece Cyber Protection can get additional coverage for issues such as cyber financial loss, cyber extortion, cyber breach of privacy, and cyberbullying.<\/p>\n<p>The company also works with a crisis management firm that pinpoints your vulnerabilities and helps you recover your lost identity if you become a victim. They also take care of forensics and legal firms as well as public relations.<\/p>\n<ul>\n<li>\n<h3>Mercury Insurance Home Cyber Protection:<\/h3>\n<\/li>\n<\/ul>\n<p>Policyholders with Mercury insurance can add the Home Cyber Protection to their policies.<br \/>\nIt includes coverage for home systems attacks, cyber extortion, online fraud, and cybercrime.<\/p>\n<p>They also offer specialists access if you are a victim of cyber-related extortion.<\/p>\n<ul>\n<li>\n<h3>Pure Starling Fraud and Cyber Fraud:<\/h3>\n<\/li>\n<\/ul>\n<p>High-value homeowners with Pure Starling insurance get the Pure Starling Fraud and Cyber Fraud coverage as an endorsement.<\/p>\n<p>It normally covers issues such as cyber extortion, systems attacks, and cyber-crimes.<\/p>\n<p>Pure Starling Fraud and Cyber Fraud also includes access to cyber security experts and active cyber monitoring.<\/p>\n<p>There are five levels of coverage limits, they are;<\/p>\n<ul>\n<li><strong>$100,000 with a $500 deductible.<\/strong><\/li>\n<li><strong>$250,000 with $1000 deductible<\/strong><\/li>\n<li><strong>$500,000 with $1000 deductible<\/strong><\/li>\n<li><strong>$1m with a $1000 deductible<\/strong><\/li>\n<li><strong>$2m with a $2000 deductible<\/strong><\/li>\n<\/ul>\n<p>They also cover cryptocurrency theft due to cyber-attack.<\/p>\n<ul>\n<li>\n<h3>Safety Insurance Home Cyber Protection Coverage:<\/h3>\n<\/li>\n<\/ul>\n<p>This is available to policyholders in New Hampshire and Massachusetts.<br \/>\nIt covers the loss of data on mobile devices, computers, and other connected technology such as smart home devices.<\/p>\n<p>They also offer access to specialists who can respond adequately to extortion demands. The coverage limit in amounts is $25,000 or $50,000 with a $500 deductible.<\/p>\n<ul>\n<li>\n<h3>State Farm Identity Restoration Insurance:<\/h3>\n<\/li>\n<\/ul>\n<p>This policy is optional coverage for homeowners, farms, renters, condos, and manufactured home policyholders for an added amount of $25 per year.<\/p>\n<p>Their base coverage reimburses you for all the costs incurred with identity theft and also a case manager would be assigned to you to work with your financial institutions for a year.<\/p>\n<p>You can decide to add endorsements for cyber extortion coverage and cyber-attack coverage. The endorsements have an annual limit of up to $15,000.<\/p>\n<ul>\n<li>\n<h3>Ask Your Insurance Company About Cyber Coverage:<\/h3>\n<\/li>\n<\/ul>\n<p>You should inquire from your insurer if there is a cyber-insurance add-on for your policy. Most homeowners\u2019 insurance policies typically cover check forgery, credit and debit card fraud, and counterfeit cash.<\/p>\n<p>You can add fraud coverage to your homeowner\u2019s policy to cater to what is not covered.<br \/>\nFraud coverage covers financial losses from fraud such as identity theft.<\/p>\n<p>It also covers the situation where you have suffered from financial loss after being misled. This is known as intentional and criminal deception.<\/p>\n<h2>Do You Need Personal Cyber Insurance?:<\/h2>\n<p>With antivirus software, identity theft insurance and monitoring services, you can reduce the risk of cybercrime but it is not a 100% defense method.<\/p>\n<p>It will not cover your private tutoring due to cyberbullying, fraudulent credit card charges, or reimbursement if you are to pay a ransom for your personal files.<\/p>\n<p>If there are fraudulent charges on your credit card bill due to online fraud, a cyber-insurance policy can help you cover some of these expenses.<\/p>\n<h2>How Can I Prevent Cyber Attacks?:<\/h2>\n<p>You can follow the steps below to help reduce the risk of a cyber-attack:<\/p>\n<ul>\n<li>Use two-step authentication for your logins, such as social media accounts and email.<\/li>\n<li>Never save your credit card information online<\/li>\n<li>Keep your devices and computers updated and install the latest operating system.<\/li>\n<li>Back up digital information by making copies of your data to a hard drive or a cloud service.<\/li>\n<li>Make sure you change your password every two to three months. Use a strong password that is at least 12 characters.<\/li>\n<li>The FBI recommends the following if your device is infected with ransomware<\/li>\n<li>If you can, collect and secure partial portions of the ransomed data.<\/li>\n<li>Delete registry values and files to stop the program from loading<\/li>\n<li>Change all your network and online account passwords.<\/li>\n<li>Power-off devices that have not yet been completely corrupted.<\/li>\n<li>Secure your backup data immediately by taking all of them offline.<\/li>\n<li>Isolate the affected computer and separate it from the network to prevent it from attacking other devices or computers and access points<\/li>\n<li>Contact law enforcement to report a ransomware event and ask for help.<\/li>\n<\/ul>\n<p>Read Also: <span style=\"color: #ff0000;\"><strong><a style=\"color: #ff0000;\" href=\"https:\/\/orekodo.net\/how-to-make-pet-insurance-claim\/\" rel=\"bookmark\">How to Make Pet Insurance Claim<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cybercrime is an increasing threat in this computer age. Your phones, gaming systems, smart home devices, and computers are all liable to a cyber-attack. Criminals have a lot of entry points to use to cause havoc in your life and your finances. There are over 4,000 ransomware attacks every day in the United States since [&hellip;] <a class=\"g1-link g1-link-more\" href=\"https:\/\/orekodo.net\/do-you-need-personal-cyber-insurance-for-cyberattacks\/\">More<\/a><\/p>\n","protected":false},"author":2,"featured_media":4699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[2],"tags":[],"reaction":[],"adace-sponsor":[],"jetpack_featured_media_url":"https:\/\/orekodo.net\/wp-content\/uploads\/2021\/11\/Personal-Cyber-Insurance-.jpeg","wps_subtitle":"","_links":{"self":[{"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/posts\/4698"}],"collection":[{"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/comments?post=4698"}],"version-history":[{"count":0,"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/posts\/4698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/media\/4699"}],"wp:attachment":[{"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/media?parent=4698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/categories?post=4698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/tags?post=4698"},{"taxonomy":"reaction","embeddable":true,"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/reaction?post=4698"},{"taxonomy":"adace-sponsor","embeddable":true,"href":"https:\/\/orekodo.net\/wp-json\/wp\/v2\/adace-sponsor?post=4698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}