Cyber Insurance Is Serious Business
Unfortunately, data breaches and other cyber crimes are becoming way too common. In the past couple years, data breaches have resulted in major fines and legal fees - not to mention headaches - for a discount retail chain, one of the nation's largest banks, a well-known health insurer, an entertainment network and the federal government.
But it's not just large organizations that are susceptible to being hacked or getting a virus. Did you know that 55% of small businesses have experienced a data breach and that 53% have had multiple breaches?
Why Real Estate Agents Need Cyber Coverage
Whether you're an independent agent or run a team, your digital operations expose you to real risks:
- Phishing scams impersonating clients or title companies
- Data breaches involving client financial records and IDs
- Ransomware attacks that can lock you out of key systems
- Wire fraud related to escrow and closing transactions
What Cyber Insurance Covers
These are just a few areas in which a cyber insurance policy will protect your business. Don't know what some of these mean? All the more reason to talk to one of our cyber advisors.