Heightened risks for cyber attacks

Your alma mater. Your anniversary. Your hometown. That information is probably on the internet somewhere. It’s also the kind of information a cyber criminal can use to crack your passwords. Our lives are increasingly lived online, making cybersecurity more important than ever. Clicking one malicious link could compromise not just your personal information, but your employer’s data as well.

Americans are well aware of these increased risks – but many aren’t doing enough to change their digital habits to better protect their personal information. That’s the finding of a recent survey commissioned by Chubb on the cybersecurity habits of Americans. Whether working remotely, spending more time on social media, helping children learn remotely or catching up with friends, respondents say they understand higher levels of online activity leave them more vulnerable to cyber attacks. Indeed, more than two-thirds (68%) report that in the last year they have become more concerned about the potential for a cyber breach exposing their personal information or identity. 

Despite this awareness and concern, more than half of survey respondents (57%) report using personal information in a password, rolling out a virtual welcome mat for bad actors. Other findings that point to the disconnect between understanding the risks and taking preventative actions:

• Just 28% report they regularly change their online passwords
• About one in five (22%) say they don’t use the same passwords for multiple accounts
• Only 17% reported using a personal VPN
• In some areas, password hygiene has fared even worse during the pandemic. For example, 31% of respondents reported changing online passwords in 2019. In the most recent survey, it’s down to 28%.
   

One bright spot in the survey involves those Americans who relocated to work remotely during the pandemic. Those who did relocate were more likely to take steps to protect themselves and their data at their new location than they were to take these same steps at their primary home. 

Fran O'Brien, Deputy Chief Risk Officer, said, "While we're encouraged to know that Americans' cybersecurity concerns are growing, today's consumers rely heavily on technologies to aid them in managing their personal lives, and because of that reliance, they should implement important cybersecurity measures to help protect themselves and their families from rapidly evolving cyber threats."

Despite broad exposure, only 12% of Americans have purchased a personal cyber insurance policy in the past year.

Some 71% of those surveyed reported that they’d prefer to continue to work remotely most or all of the time. Instilling cybersecurity best practices now will continue to be critical for individuals and businesses well into the foreseeable future.

This is the fourth survey by Chubb measuring consumers' approaches and behaviors toward cyber risk. Conducted by Research Now SSI, a leading global provider of first-party consumer and professional data, the online survey was fielded between February 11-25, 2021. The results are based on 1,208 completed surveys. A breakdown of respondents is as follows:

• Gender: Male (53%), Female (46%), Non-binary/ Prefer Not to Answer (1%)
• Age: 18-34 (36%), 35-54 (40%), 55+ (24%)
• Regions: Midwest (21%), Northeast (19%), West (32%), South (28%)
• Socioeconomic Status: Middle Class (27%), Upper Middle Class (27%), Mass Affluent (24%), High-Net-Worth (22%)