Helping consumers understand the value of cyber insurance

More than four out of five American consumers who own connected devices either lack insurance to protect them from cyberthreats or do not know if they are covered, according to the Insurance Information Institute and J.D. Power 2018 Consumer Cyber Insurance and Security Spotlight Survey℠. The survey further shows that as more people choose to expose their personal information on digital platforms, insurance professionals can play a prominent role in educating consumers about cyberrisk by dispelling misperceptions about the cost of protection by demonstrating the relatively inexpensive and valuable coverage that is available to them.