Cyber Liability
Cyber liability insurance protects your real estate business from cyberattacks which can result in data breaches, business interruptions and digital asset loss. Real estate businesses often have sensitive client information that needs to be protected and insured.
Cyber criminals are increasingly targeting real estate businesses, because they have access to sensitive client information and deal with large sums of money.
Why Real Estate Professionals Need Cyber Liability Insurance
Most Common Claims:
Data Breach
A cyber criminal gains access to your CRM system, transaction management software or email account. They steal the identity of your clients and cause significant harm.
Wire Fraud
Commonly referred to as “social engineering”, you or someone in your offices mistakenly transfer funds to a criminal rather than the intended recipient (i.e. a vendor, your agent, etc).
Cyber Extortion
A cyber criminal gains access to your computer systems and will not release access to you without substantial cryptocurrency payment.
How Cyber Liability Insurance Protects You:
Data Forensics/Recovery
Cyber liability insurance can hire a data breach expert to coordinate the response to your breach, which can include cyber forensics, coordinating with credit protection services and coordinating with the appropriate regulatory authorities.
Regulatory Fines
If your business can incur significant regulatory fines for placing your clients data in harms way. Cyber liability insurance can provide funds to help pay these fines.
Business Interruption
Incurring a cyber attack can cause significant downtown and loss of income to your business. Cyber liability helps compensate you for these loses.
Who Needs Cyber Liability Insurance
Nearly every real estate professional uses some sort of transaction software such as ZipForms, Dotloop or Docusign. While third party solutions are typically secure, any software can unfortunately be the target of a cyber attack. Cyber breaches may not target you specifically; the target could be every user within a software platform. As a licensed real estate professional, you have a fiduciary responsibility to protect your client’s documents and other sensitive information. Our team at RealShield will help limit your cyber liability and reduce your financial exposure across many types of technology.
Get Cyber Liability Insurance
RealShield Insurance can provide you with cyber liability insurance to protect your real estate business. You can choose to get your policy 100% online through our website or you can call our team of experts for advice.
We insure individual real estate brokers & agents, real estate brokerage firms, and property management firms across Texas. Our cyber policies start at $41.67 per month. You can purchase them individually or bundle them right on our easy-to-navigate online system.