Study Shows High Level of Consumer Concern About Cyber Crime, Low Level of Action or Awareness About Safety Measures

Business Wire

Research by Grange Insurance Supports Cybersecurity Awareness Month

COLUMBUS, Ohio--(BUSINESS WIRE)-- There is a high level of concern among consumers about the risks associated with cybercrime from their smart devices, and one in four claims to be a victim of a cyberattack. Yet, the vast majority of consumers are unaware of what they can do to protect themselves or feel they’ve already taken sufficient safety measures. These are among the key takeaways of a new study of consumer attitudes about cybersecurity commissioned by Grange Insurance and conducted by Research America.

“Our research suggests that while most consumers worry about the disruption cybercrime can cause in their lives, they are not fully aware of what can be done about it and too often don’t know where to turn for help,” said John North, Personal Lines President, Grange Insurance. “We hope this study will lead to more awareness and action, particularly as we mark Cybersecurity Awareness Month.”

Among the study’s key findings about smart device usage and cybercrime concerns among consumers:

On average, households contain six devices that access the Internet. And the majority of consumers (65%) intend to add more devices in the future.
The vast majority (81%) use public Wi-Fi networks, with about half (48%) doing so once a week or more. Consumers are most likely to access public Wi-Fi networks from a mobile phone.
The vast majority (77%) are at least somewhat concerned about the risks of accessing the internet from their devices. 31% are very or extremely concerned.
Hacking and having personal information stolen are the most frequently mentioned top-of-mind risks. But, overall, there is a high level of familiarity and concern about all types of risks.

Key findings about cybercrime protection and resources:

About a quarter (23%) have experienced a cyberattack, with hacking, viruses and identity theft the most common types.
Among those who have experienced a cyberattack, about three out of four say they had taken safety measures prior to the attack.
One in four have never taken safety measures against cybercrime.
Lack of awareness and believing their existing measures are sufficient are the top reasons consumers don’t take more safety measures to prevent cybercrime.
Consumers say they would most likely seek advice about cyber protection from an antivirus or cybersecurity company. About 1 in 10 say they don’t know where to go for advice.
Nearly one in five (17%) believe that doing more to protect themselves from cybercrime is too much of a hassle.
About seven in 10 have not purchased identity theft insurance coverage or home cyber insurance protection, but nearly a third have considered it.

“As the number of devices connected to the internet in our homes increases, it is more challenging than ever to keep information secure. Consumers must be proactive in learning about the risks around them – even from common items such as baby and pet monitors and smart toys – and take steps to adequately protect themselves,” said John North.

As part of its commitment to protecting consumers, Grange is introducing Home Cyber Protection that provides coverage against computer or home system attacks, cyber extortion, online fraud and data breaches. Grange offers this protection in partnership with CyberScout, the premier provider of identity protection solutions, identity theft recovery services, breach services and data risk management solutions. Consumers can learn more about this coverage by talking with their independent agent or by visiting grangeinsurance.com.

Research America designed and executed the survey in August and September, using a nationally representative sample for age, gender and region. The study is part of Grange’s initiative to uncover attitudes, behaviors and trends that consumers might find helpful in their consideration of insurance products.

About Grange

Grange Insurance, with $3 billion in assets and more than $1.2 billion in annual revenue, is an insurance provider founded in 1935 and based in Columbus, Ohio. Through its network of independent agents, Grange offers auto, home, life and business insurance protection. The company and its affiliates serve policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and Wisconsin.