What is personal cyber risk?
The Internet – and the smartphones, tablets and other smart devices that connect us to it – are now such a fundamental part of modern life, that it’s difficult to imagine how we’d function without them. From online banking and shopping, to email, gaming and social media, it can be easy to overlook the volume of information that is stored up about us online.
With more and more integrated household appliances and applications, we’re more connected than ever before. Home comforts such as smart doorbells, smart speakers (Alexa and the like), heating systems, ovens and even your car that can now all be controlled from your smartphone only expands the risk.
As your world continues to become more connected it’s more important than ever to take steps that can prevent cyber criminals getting hold of our accounts, data, images, devices, daily habits and routines, and your reputation.
Should I be concerned about my personal cyber risk?
Fraud is now the most common crime in the UK, with 1 in 15 people falling victim1.
The majority of fraud now has an online element with phishing now being one of the main methods used to commit scams. If you have received an email, text, or social media message that looked suspicious, you’re likely one of 45 million people who have been targeted by suspicious calls and texts according to media regulator Ofcom.
When it comes to the risks from your smart home, cybercriminals could:
- Learn when you’re away from home by accessing your heating and lighting systems
- Gain access to passwords and bank details through information shared on devices such as Alexa through voice commands.
- Enter your home network through a smart device to launch a ransomware attack – effectively bringing your smart home to a standstill unless you meet their demands.
Does your existing personal lines policy offer personal cyber protection.
It is important to note some insurers include personal cyber protection in their policies.
Personal Cyber Protection in action
A client recently suffered a cyber-attack whereby an email from their contractor was intercepted by a scammer resulting in being scammed for £10,000.
With limited support from their bank, the client turned to Partners& for advice. We were relieved to remind the client of the home cyber protection included in their policy. The client was thrilled and was able to be fully reimbursed for the cyber scam.
If you are unsure if you have personal cyber protection, or would like to understand more about the options available speak to our team today.
Why is personal cyber protection important?
In the workplace there will probably be some level of defence, be it a knowledgeable IT team, firewalls, cyber insurance and online security measures set up to offer protection against cyber-attacks.
But what happens when you return home from work? It’s highly likely that there is much less, if any protection in place – yet there is no reduction in threat levels.
And sadly, the risks don’t just relate to hacking bank accounts and personal data. Cyberbullying, harassment, blackmail and grooming are terrifying to contemplate, but the threats to individuals and their families are very real and the impact can be devastating.
Your ability to avoid, withstand and rebound from such huge range of online threats that exist in cyberspace has become a fundamental part of your personal family protection.
Take part in our research
As we continue to look to expand our offering to support clients with their personal cyber risk we would welcome your contribution. If you could spare 30 seconds, please submit your thoughts below.
The question is – How do you avoid becoming a victim and keep your whole family safe online?
Our series of personal cyber protection resources are designed to highlight the risks exposers of our modern life and what we can do to better protect ourselves and those we care about.