Cyber policies address the emerging coverage gaps in traditional coverage like General Liability and Errors & Omissions resulting from an increased reliance on technology and the use of data in day-to-day operations. In addition to liability coverage for cyber related losses, many programs also provide cyber risk management solutions for data and network risks. These solutions include access to response teams that focus on solving a broad range of cyber risks such as network outage, data loss/theft or even cyber extortion demands.
Important Coverages to include:
- Breach Liability: 3rd party liability protection
- Privacy Liability
- Website Media Liability
- Regulatory Proceedings
- Payment Card Industry
- Breach Rectification: Addresses costs you incur responding to a breach
- Data Breach Team
- Business Interuption
- Digital Asset Loss
- Digital Crime: Protection against digital crime losses
- Cyber Extortion
- Electronic Funds Transfer
- Deceptive Transfer
- Telephone Toll Fraud
The question is no longer if you’ll be impacted by a cyber related incident. It’s when you are impacted, what will you do?
Real Estate agents and brokers are prime targets for cyber criminals because of the large monetary values and financial data that is transmitted in the process of buying and selling real estate.