By Laura Fitt,Bloomberg|Posted January 15, 2018 07:04:00While most people will be comfortable buying an online insurance policy that covers everything from auto repairs to home repairs, many Americans are concerned about whether their insurer will issue coverage if they have an accident, like when their car breaks down or someone steals their wallet.
A survey by the National Association of Insurance Commissioners released Thursday found that only 29 percent of those surveyed were satisfied with the current cybersecurity policies they are enrolled in.
In the survey, 3,500 people responded, and the results showed that 27 percent of people surveyed did not think they could get their insurance company to cover their coverage for a cyber attack.
About two-thirds of those polled also said that their insurance would not cover them for an attack on their personal computer or mobile device.
About 12 percent of the survey respondents said they would be “extremely” or “extremely confident” that their company would not issue coverage for an incident of cyber attack if they had a cyber-related injury.
“There is a perception among some that this is the time of year for insurers to provide coverage,” said John Dickson, a spokesman for the association, which represents insurance companies and their employees.
“We’re not here to make this a reality.
We’re here to encourage people to make sure they’re comfortable with the options they have.”
While most insurers and consumers will not be aware that their insurer may be on the hook for coverage for cyber attacks, they will be aware of what their policy states about coverage.
A recent survey of 2,200 consumers, by the Insurance Institute for Highway Safety, found that 29 percent thought that the current policies they were enrolled in did not cover cyber attacks.
The survey found that 41 percent said that they would either be “very” or very confident that their employer would not be able to cover the coverage they were currently enrolled in for cyber-attacks.
A separate survey from the National Assn.
of Insurance Administrators found that 40 percent of insurance companies surveyed would not offer coverage for cybersecurity-related injuries and injuries.
“Insurers have a responsibility to make their policies affordable and that means ensuring they are covering cyber-accidents in the most cost-effective way possible,” said Susan M. Ruppel, the association’s president and CEO, in a statement.
The NAAIC survey comes amid a surge of cyber attacks and attacks on personal computers and mobile devices that have been blamed on Chinese hackers.
The most recent attacks on American companies were aimed at Anthem, U.S. health insurer Anthem Blue Cross and Blue Shield, and Blue Cross Blue Shield of New Hampshire.
Insurance companies are increasingly under fire from lawmakers for failing to address cyber vulnerabilities and cyberattacks on their systems.
In October, lawmakers sent letters to the CEOs of several insurers, including Anthem, and other large insurers, seeking more information about cybersecurity and cyber-security risks.
A new cyber-attack on the U.K. government’s website in March 2018, which shut down portions of the country’s public transport system, caused widespread disruption in the United Kingdom.
In response, the U and European Union are investigating whether their governments’ systems were breached and are seeking additional assistance from the U:European Parliament President Martin Schulz, whose country is also a member of the EU, said in a letter to British Prime Minister Theresa May last month that the European Parliament “is in no position to provide insurance for all attacks, even those that are malicious and are aimed at undermining the security of the European Union.”