Personal Cyber Insurance

From online banking to social media interactions and smart home devices, our lives have become increasingly digital in today’s interconnected world. However, the more connected we are, the more vulnerable we become. Cybercriminal’s tactics are constantly evolving and becoming more advanced every day. Ranging from phishing to ransomware, your sensitive information may not be as secure as you think it is. Cyber-attacks can cost you your identity, your information and your money.

In the not-too-distant past, it was commonplace to only have one family computer per household, but there are now an increasing number of devices regularly being used within the homes such as smartphones, tablets and virtual assistants.  The more devices there are, the more cyber criminals can try to access your data. In the UK alone, residents received over 208 million fraudulent emails and there were over 69,000 cases of identity theft reported last year.

Types of Cybercrime Tactics


Phishing is thought to be responsible for half of all UK cyberattacks. The ease of phishing is concerning; it is the tactic of sending alluring messages via email or social media to their victim to collect sensitive information. This usually happens through a link sent by an unknown email domain. Clicking the links contained in such emails can put all of your data at risk.

Phone Hacking

Phone hacking involves any method where someone forces access into your phone or its communications. This can range from advanced security breaches to simply listening in on unsecured internet connections.


Ransomware is a type of malware which prevents you from accessing your device and the data stored on it, usually by encrypting your files. A criminal group will then demand a ransom in exchange for decryption. The computer itself may become locked, or the data on it might be encrypted, stolen, or deleted. The attackers may also threaten to leak the data they have stolen.

What can you do?

Shockingly, 46% of UK consumers have fallen victim to cybercrime and another 25% believe they will fall victim to cybercrime in the future. So, is it hopeless? Is there nothing we can do to secure our information?

No, it is not!

Best practices to prevent cyber crimes:-

Keep your device’s software up to date

Because your operating system manages all the functionality on your computer, it can be a venerable target for hackers. Cyber threats are constantly changing, so to keep on top of these changes, operating system providers regularly offer updates. If you don’t update your OS, you leave yourself vulnerable to losing information on your device or compromising access to key accounts.

Use strong passwords

The more complex your password is, the more protected your information will be. Hackers use programs that cycle the most common, simplest passwords used. Because of this, your password should include a combination of letters, numbers, and symbols to increase its complexity. However, this doesn’t mean your password needs to be hard to remember, simply picking a phrase such as “Cup of Joe” could be translated to (uP!0F*J03#.

The NCSC (National Cyber Security Centre) recommend using 3 random words with characters and use different passwords for different accounts. It is important to change your passwords regularly as the longer you use the same password, the greater the risk that it will be compromised. You are particularly more vulnerable if you use the same password for EVERYTHING.

An additional security measure is two factor authentication, this requires you to provide more information before you can access to your information to confirm your identity. This could be in the form of a personal identification number (PIN), a code sent to your email or mobile phone, or a fingerprint. Two factor authentication is not available for every account/device, but you should always use it wherever possible.

Use a VPN

A Virtual Private Network (VPN) hides your IP address and secures your data, preventing others form intercepting it. A VPN works by using encryption protocols to funnel all of your internet traffic through an encrypted tunnel. This is particularly useful when using public Wi-Fi which is not as safe as your private Wi-Fi. Some popular and trustworthy VPNs include NordVPN, Surfshark and ProtonVPN.

Make sure your insurance policy includes cyber insurance.

With cybercrime consistently increasing, most of our high-net-worth household insurers now provide personal cyber insurance imbedded within their policies (varying sum insured limits apply). If you fall victim to a cyber-attack the cover can help with expenses related to restoration; data retrieval, identity theft related costs; lost money from credit card fraud and much more.

Author Bio

Tara Stone began her insurance career in 2018 working as a personal lines insurance broker for Aplan Insurance. It was there where she completed her certification in insurance broking.  

Tara joined Hayes Parsons Insurance Brokers in 2021 as a Private Client Account Handler. Not long after, she was promoted to Private Client Account Executive specialising in sourcing insurance for high-net worth individuals for their property portfolio’s, jewellery, artwork collections and motor fleets. 

Tara can be contacted via phone, email or LinkedIn