Cyber Liability Insurance for investment properties
Cyber Liability Insurance can protect businesses for the cost of an actual or suspected violation of a privacy regulation due to a security breach that results in the unauthorized release of protected personal identifiable information. If you collect rent payments or any sensitive data including credit card information, employee information, customer’s driver license numbers or social security numbers, you are at risk of cyber fraud exposure.
National Real Estate Insurance Group has partnered with AMWins to offer cyber liability insurance solutions to help protect you from liability claims as a result of such breaches. Submit your information to AMWins, and receive a proposal to help protect your business.
Follow this link to get Cyber Liability Insurance today!
What does Cyber
Liability Insurance cover?
Cyber liability insurance can help protect you for the following instances of cyber fraud:
- The cost to respond and recover from a data breach
- Theft of funds electronically or through fraudulent instructions
- Cost of ransom if your computer is encrypted
- Business interruption if your computer systems are damaged due to an attack
Sublimits
(retention applies)
- Telecommunications Theft – $100,000 sublimit
- Social Engineering Fraud – $100,000 sublimit
- E-Theft – $100,000 sublimit
Underwritten by AXIS Insurance Company, an A+ rated insurance carrier by AM Best and facilitated through the North American Data Security RPG master policy, a risk purchasing group registered in all 50 states and the District of Columbia.
Why do I need Cyber Liability Insurance?
Almost every business stores or collects sensitive data including credit card information, banking information, employee information, customer’s driver license numbers, social security numbers, or protected health information; and you are legally obligated to protect information you collect.
Do I need Cyber Liability Insurance if I don't store tenant's personal information?
Ransomware is a leading form of cyber extortion. Criminals lock your computer after infecting it with malware typically through an email. All files and access is denied until the ransom is paid. If this were to happen to you, how will you conduct your business? Can your business cover the lost income?
Cyber Liability Insurance Eligibility
- Underwriting is limited to four questions
- Rating is based on revenue for businesses up to $50,000,000 in annual revenue
- Excluded classes include; (a) Banks, (b) Credit Unions, (c) Payment Processors, (d) Gambling Organizations, (e) Online Adult Industry, (f) Social Media/Networking Firms, (g) Cloud Providers (h) Federal and State government agencies (I) Municipalities (j) Franchise (k) Crypto-currency (l) Marijuana Dispensaries
To get your proposal and purchase coverage through our partner, AMWins, follow this link. You will be taken to a third party site in a new window.
Add more coverage to Cyber Liability Insurance
National Real Estate Insurance Group has coverage options to help protect all types of investment properties. After you request a proposal, ask your agent to discuss additional coverages to limit your exposure.
Want to learn more about Cyber Liability Insurance?
Read one of our articles about liability insurance or go to our Resource Center to learn more about different insurance topics.
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