INSUREtrust has been offering cyber liability insurance to real estate firms for a long time. Many do not realize that they have cyber exposures. We have previously written about phishing scams, which often target real estate firms that have large escrow and/or rental accounts. They also often maintain significant amounts of personally identifiable information.
Fannie Mae is now requiring cyber liability insurance be purchased by real estate companies involved in servicing foreclosure properties. We know, from experience, many of these companies will seek out this coverage with no ability to discern whether or not they are getting a “good deal”. They don’t know –
1. What sublimits for notification costs etc should be expected?
2. Should data be covered off their premises as well as on?
3. What about paper files and laptops that contain data?
4. How about rogue employee intentional acts coverage?
5. Which carriers are tacking on “unencrypted data” exclusions? (This is a deal killer as far as we are concerned)
We can help simplify this process, answer your questions and turn quotes around quickly.
To learn more on how a relationship with INSUREtrust would benefit you, we invite you to explore our website, to register on our website, and to contact us.