Americans are concerned about cybersecurity but are unwilling to take action to protect themselves, according to a study from Chubb, with only 10 percent of respondents reporting having a cyber insurance policy in place.
Complacency tas taken hold of Americans, according to Chubb's third annual cyber report, which examined individuals' comprehension of cyber risks and the steps they are taking to protect themselves. It found that eight-in-10 Americans worry about a cyber breach, yet only 41 percent use cybersecurity software, and only 31 percent regularly change their passwords.
These numbers are virtually unchanged from 2018.
Older respondents tend to employ better cyber practices than younger generations, the survey found. It said 77 percent of those over 55 delete suspicious emails, compared to 55 percent of respondents between 35 to 54 and just 36 percent of 18 to 34 year olds.
And younger generations appear to be getting worse in their cybersecurity. The report said that 76 percent and 74 percent of adults over 55+ regularly deleted suspicious emails in 2017 and 2018, respectively, compared to just 47 percent and 40 percent of adults between 18 and 34 during the same time period.
It found that only 18 percent of respondents are concerned about their email addresses being compromised. “A single email address can be a gold mine for hackers,” said the report.
Only 27 percent of respondents are concerned about their medical records being breached, despite the fact that 54 percent of all cyber claims submitted to Chubb by its healthcare policyholders were the results of an external actor, a significant increase from previous years.
Fran O'Brien, division president of Chubb North America personal risk services, said: "Concern itself isn't enough. Individuals often say their lack of cybersecurity action is because it seems too time consuming in the moment. But implementing cyber safeguards today will save time and financial resources tomorrow, should a breach occur."
Chubb, Cybersecurity, Fran O'Brien