SARASOTA, Fla. (WWSB) – Mark Friedlander with the Insurance Information Institute will join ABC7 live at 5 p.m. Wednesday, Aug. 26, to discuss personal cyber insurance and the growing financial risks of cybercrime.
Cybercrime is not only a business concern. Individuals and families can also face losses from online scams, identity theft, malware attacks and extortion.
According to information provided by Friedlander, the FBI’s Internet Crime Complaint Center logged more than 1 million internet crime complaints in 2025. Friedlander said reported losses exceeded $20 billion that year.
He said phishing was the most common reason for complaints, and the average reported cybercrime loss in 2025 was $20,699.
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Triple-I cited identity theft, online fraud and scams, computer and device attacks, extortion and online harassment among the leading cyber threats consumers face.
Personal cyber insurance may help cover expenses related to cyber extortion or ransomware, data-breach response, online fraud, cyberbullying support and identity theft monitoring, depending on the policy.
Friedlander said personal cyber coverage can often be added to a homeowners insurance policy as an endorsement. He said annual premiums may range from about $25 to $75 for $15,000 to $50,000 in aggregate coverage limits. Higher limits of $100,000 or more may cost about $100 to $400 annually, according to Triple-I.
Coverage, costs, exclusions and deductibles vary by insurer and policy. Friedlander encourages consumers to contact their insurance agent to ask about available coverage.
More information is available through Triple-I’s personal cyber protection resource.
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