National survey shows financial concerns, personal privacy and ID
theft, extreme weather and personal safety among the top concerns
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HARTFORD, Conn.--(BUSINESS WIRE)--Sep. 17, 2013--
(NYSE:TRV) today released the baseline data for its new Consumer Risk
Index, an annual survey that provides insight into the types of risks
the American public believe to be most prevalent in their everyday
lives. According to the Consumer Risk Index, 63 percent of Americans
believe their world is becoming a riskier place, while only 15 percent
feel it is less risky. The greatest levels of concern focus on their
financial security, loss of privacy and identity theft, personal safety
and the increased frequency of severe weather.
The debut of Travelers’ Consumer Risk Index coincides with National
Preparedness Month, which is observed every September, to serve as a
reminder to individuals and families to consider how to plan for and
better manage unexpected events that could impact their daily lives.
“Americans realize that many of today’s most worrisome risks did not
exist half a generation ago,” said Patrick Gee, SVP of Catastrophe
Response at Travelers. “The Consumer Risk Index provides insight as to
what concerns people most, and gives us an opportunity to offer simple,
everyday steps on how they can best manage those risks.”
After several years of economic difficulties, financial concerns topped
the list of issues that weigh most on Americans’ minds. Sixty-eight
percent of respondents say they worry about financial risks, including
providing for their family.
Technology’s Double-Edged Sword
As technology becomes a more
central part of our everyday lives, it also contributes to Americans
feeling their world is now more risk-prone. Technology-related risks are
the second biggest concern identified on the Consumer Risk Index, with
64 percent of individuals worrying about personal privacy loss. When
asked to specify, their worries took many forms:
64 percent are concerned about their bank or other financial accounts
62 percent worry about ID theft; and
48 percent fear losing confidential information via a stolen computer.
Technology-related concerns are not limited to information being hacked
or exposed. An entire new spectrum of personal safety and transportation
risks now exist due to technological distractions. Eighty-four percent
of respondents say distracted driving is a concern, while 55 percent
said the same about distracted pedestrians. Only 31 percent of
respondents, however, are concerned that they themselves could get into
an automobile accident as a result of their own use of a mobile device
Extreme Weather Becoming More Frequent
Severe weather is
another leading worry, according to the Travelers Consumer Risk Index.
Seventy-percent of all respondents believe that severe damaging weather
events are becoming more frequent across the U.S. today compared to the
last few years.
However, this is also an area where Americans say they feel protected –
90 percent report they are somewhat or very confident that their home or
dwelling is properly insured, while 93 percent report the same for their
How Americans are Preparing
While the Travelers Consumer
Risk Index identifies a number of concerns for individuals and families,
people are also taking steps to prepare for the unexpected. Among the
most common actions:
Carbon monoxide, smoke detectors – 83 percent say they have installed
these devices in their home;
Annual safety check on their car – 84 percent say they perform this
annual inspection, which includes checking tires, fluids, parts, etc.;
Distracted drivers, pedestrians – 78 percent say they are constantly
alert to potentially distracted drivers and pedestrians around them;
Severe weather – 57 percent say they store extra
food/water/flashlights in the event of severe weather, while 52
percent say they have created an evacuation plan.
Consumers can visit the Travelers Prepare
and Prevent web site for a variety of tips and information on steps
they can take to prepare for everyday risks. For complete survey
results, please visit www.travelers.com/riskindex.
About the Survey
Research conducted a national telephone survey of 806 adults from
May 20, 2013, to June 2, 2013. The survey was commissioned by Travelers
and has a statistical margin of error of +/- 3.5 percentage points.
The Travelers Companies, Inc. (NYSE: TRV)
is a leading property casualty insurer selling primarily through
independent agents and brokers. The company’s diverse business lines
offer its global customers a wide range of coverage in the auto,
settings. A component of the Dow Jones Industrial Average, Travelers has
more than 30,000 employees and generated revenues of approximately $26
billion in 2012. For more information, visit www.travelers.com.
About Hart Research
Hart Research Associates is one of the
leading survey research firms in the United States. Now in its 42nd year
of operation, the firm has conducted well over 7,000 public opinion
surveys and has administered and analyzed interviews among more than
four million individuals in that time. Hart Research also has undertaken
more than 6,000 focus group sessions. Our client base represents five
major sectors of society: nonprofit institutions and advocacy
organizations, labor unions, politics and public policy, business and
industry, and the media.
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Source: The Travelers Companies, Inc.
The Travelers Companies, Inc.
Daryl Richard, 860-954-0844