General Insurance Article - Outsmarting the cyber scammers

It should come as no surprise that use of social media and other strands of every day technology - such as Google - are now commonplace regardless of age. But while tech is being embraced ever further across generations, how to avoid the spectre of online scams and other forms of cybercrime is becoming an increasingly serious challenge.

 The internet has revolutionised the buying habits among people over 50, three-quarters of whom use the web for online shopping and banking, plus booking holidays and hotels. They are also using social media to stay in touch with friends and family.

 Savvy Saga web users are particularly discerning about which social media platforms they like to use - and those they don’t. Usefulness – how and where to find information and discover new things - is a major factor. More than a third regularly use Facebook to stay in touch with family and friends, almost a quarter enjoy the convenience of messaging via WhatsApp and one in six make regular use of YouTube.

 However, even though increasing numbers are making the most of the technology, there is real concern about the threat posed to them online.

 Saga Home Insurance research amongst over 11,300 Saga Members discovered that seven in ten (72%) people feel at risk of being the victim of cyber scams and online fraud. However due to the caution they exercise just one in five said they had been a victim of cybercrime.

 As technology advances and cyber criminals develop more complex methods of hacking, it’s important to protect our cyber selves. While many respondents said they had some awareness of cybersecurity, a third admitted they had very little knowledge of what to do to prevent something happening to them or their data.

 Whilst almost all (97%) understand that they need to have antivirus software on their computer, just 38% realised that they should also have this on their mobile devices. One in six say they do not understand the privacy settings of their social media accounts.

 In order to help those impacted by about cyber-attacks fraud and scams, Saga Home Insurance has launched Personal Cybercrime cover, providing customers with comprehensive protection against cyber risks on their personal devices, including ransomware attacks.

 Saga customers will have access to expert advice in the unfortunate event of a cyber-attack. People can feel confident knowing they will receive practical advice and guidance on immediate actions they need to take, as well as assistance to manage the issue.

 The cover, included as part of the legal cover add-on, proposes to restore, where possible the customer’s electronic devices to the state they were in prior to the cyber-attack; , subscriptions to credit monitoring companies will be reimbursed following a cyber-attack and the add on also offers an advice line to discuss current cyber security measures.

 The introduction means that Saga Home Insurance now offers a comprehensive package to protect people against fraud. The legal cover also offers protection for ID Theft, and a fraud and scam helpline which people can call if they are suspicious of anything from an email, a website or even a mailing they receive in the post.

 Simon Mcphee, Head of Saga Home Insurance said, “It’s wonderful that so many of our customers are embracing technology, which can have such a positive impact on helping people do the things they want. However, it is also vital to understand the threats associated with transacting online and sharing personal data, ensuring the correct measures are in place to minimise all potential risks.

 “Previously insurers have responded to cyber risks in the commercial sector, but there was very little available when it comes to personal cover. We are pleased to be able to offer our customers a unique product, which has been developed to help with issues they have told us they have real concerns about. In addition to helping out if customers do become victims of an attack, there is an advice line to discuss cyber-attack matters that may be of concern.” 

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