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Personal Cyber Protection

Written by on 3/27/2018 7:46 AM in , , , , , , . It has 2 Comments.


Cyber attacks are no longer the plot to a thrilling movie, they have moved off the silver screen and have become part of our lives as we know them. Protecting yourself from the outcomes of an online attack is now increasingly important, and coverage can easily be added on to your homeowners policy.

Four scenarios where personal cyber protection will cover you from online hackers:

1. Cyber Attacks

You open an electronic file attachment that looked like it was from a reputable and recognizable company. Unknowingly, the attachment unleashes a nasty virus corrupting and reconfiguring your existing computer set up.

Cyber Coverage: cost to professionally recover your data, and restore your system.

2. Cyber Extortion

A ransom note pops up on your computer screen, noting: "your files have been locked and to get the decryption key you must pay $1000 USD". If payment is not received within a week, the price will increase to $2000 USD. You pay the $1000, and now have additional costs for a professional to investigate your system.

Cyber Coverage: provides payments and professional assistance in responding to Cyber extortion demands due to threat of damage, disable, deny access to or disseminate content from devices, systems or data.

3. Online Fraud

You receive an email regarding your son who is away at school; he was in a car accident the evening before and is facing possible criminal charges. Needing money for a lawyer, you have been asked to wire the money within 20 minutes of receiving the email to secure an attorney, and only then will you receive all the details of the situation. You wire the money, not being able to get a hold of your son. When he calls you back later that morning, you realize that he was never in an accident.

Cyber Coverage: covers you for online fraud that results in a direct financial loss.

4. Data Breach

Volunteering on a board, you use your personal tablet to organize events and their participants. At one of these events, your tablet goes missing and you begin to fear the participants information may be used maliciously. After a costly visit to the lawyers, you are told to notify the affected individuals and provide them with fraud alert services.

Cyber Coverage: notifies and pays for services to affected individuals in the event that third party, private, data is breached.

 

Comments

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  1. Paul's avatar Paul
    What does this Personal Cyber Insurance cost? Is this a rider on current home insurance?
    Reply 3/31/2018 1:35 PM
    • Laurie Chambers's avatar Laurie Chambers
      Hi Paul!
      I would encourage you to call our office so one of our licensed brokers can talk you through it: 705-324-6681. We are open today (and everyday) until 5:30PM!
      Thank you for your interest!
      Reply 4/3/2018 8:15 AM

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