Survey by Munich Re’s HSB Also Finds One in Five are Victims of
Identity Theft

HARTFORD, Conn.–(BUSINESS WIRE)–About one-third of U.S. consumers (34 percent) have been notified that
their data has been breached, according to a survey released today by
The Hartford Steam Boiler Inspection and Insurance Company (HSB), part
of Munich Re, and one in five have been the victim of identity theft.

The nationwide poll, conducted for HSB by Zogby Analytics, reflects the
growing risks for consumers as more of their personally identifying
information is stored online. Almost half of those who had received a
breach notification said they had been informed within the past 12
months.

“Data breaches continue to expose millions of Americans to identity
theft and fraud,” said Timothy Zeilman, vice president and counsel for
HSB, a leading provider of cyber insurance and services. “On the
positive side, forty-eight states now require that affected individuals
be notified and more consumers are taking advantage of credit monitoring
and identity restoration services offered by businesses and insurers.”

Almost two-thirds (62 percent) of individuals whose personal information
had been breached were offered credit monitoring or restoration services
and 41 percent took advantage of those benefits.

The HSB consumer survey also showed that 18 percent of total respondents
had been the victim of identity theft and a third had become aware of
situation within the previous 12 months.

Asked when they discovered their identity had been stolen, 38 percent
said when they applied for credit, were notified of a fraudulent tax
filing, were named in a collection agency action over a debt, or some
other financial or legal transaction.

Another 37 percent found out when they received a data breach
notification; 20 percent spotted suspicious activity on their credit
report, and four percent were notified by law enforcement.

Many victims (38 percent) didn’t know how their identity was stolen.
Twenty-six percent said it was stolen online; 23 percent said it was
breached from a bank, retailer, or other institution; eight percent
through the loss or theft of a wallet, purse, laptop or smartphone, and
five percent said a friend or family member.

Survey Methodology
Zogby Analytics was commissioned by
Hartford Steam Boiler to conduct an online survey of 1,551 adults in the
United States. Based on a confidence interval of 95 percent, the margin
for error was plus or minus 2.5 percentage points, meaning all other
things being equal, the identical survey repeated will have results
within the margin of error 95 times out of 100.

Hartford Steam Boiler (HSB), a member of Munich Re’s Risk
Solutions family since 2009, is a leading specialty insurer providing
equipment breakdown, other specialty coverages, inspection services and
engineering-based risk management that set the standard for excellence
worldwide. We focus on clients and partner with them to craft inventive
insurance and service solutions to cover existing and emerging risks
posed by technological change. Today, as throughout our 150 year
history, our mission is to use our engineering knowledge and insights to
help clients prevent loss, advance sustainable use of energy resources
and build deeper relationships that benefit business, industry, public
institutions and consumers. HSB holds A.M. Best Company’s highest
financial rating, A++ (Superior). For more information, visit www.hsb.com
and connect on LinkedIn, Twitter and Facebook.

Zogby Analytics is an international research firm, providing
clients with information and knowledge critical for making informed
strategic decisions since 1984. The firm conducts multi-phased opinion
research with state-of-the-art opinion research capabilities and
objective analysis and consultation for banking and financial services
institutions, insurance companies, hospitals and medical centers,
retailers and developers, religious institutions, cultural
organizations, colleges and universities, IT companies and federal
agencies.

Munich Re stands for exceptional solution-based expertise,
consistent risk management, financial stability and client proximity.
This is how Munich Re creates value for clients, shareholders and staff.
In the financial year 2017, the Group – which combines primary insurance
and reinsurance under one roof – achieved a profit of €0.4bn. It
operates in all lines of insurance, with over 42,000 employees
throughout the world. With premium income of around €32bn from
reinsurance alone, it is one of the world’s leading reinsurers.
Especially when clients require solutions for complex risks, Munich Re
is a much sought-after risk carrier. Its primary insurance operations
are concentrated mainly in ERGO, one of the leading insurance groups in
Germany and Europe. ERGO is represented in over 30 countries worldwide
and offers a comprehensive range of insurances, provision products and
services. In 2017, ERGO posted premium income of €17.5bn. Munich Re’s
global investments (excluding insurance-related investments) amounting
to €218bn are managed by MEAG, which also makes its competence available
to private and institutional investors outside the Group.

Contacts

For HSB
Dennis Milewski, +1 860-722-5567
Media Relations
[email protected]