Data breaches are at an all time high, up 45 percent from 2016, and hotels are a prime target. Accommodations, which includes hotels and restaurants, top the list for point-of-sale cyber breaches with the average cost of investigations being $735,000, increasing in cost based on the size of the company.
Hotel owners and managers need to be protected and prepared for when a data breach occurs. Distinguished Programs’ Senior Vice President, Kurt Meister, sat down with Hotel Business to discuss what steps to take when a breach happens – from evaluating your risks, preparing your hotel to respond, what to look for when searching for proper cyber liability coverage, and how to reduce cyber risks from occurring in the first place.
Distinguished Programs is a leading national MGA and program manager for specialty property & casualty insurance. The company places insurance in niche sectors such as commercial real estate, hotels & restaurants, community associations, environmental & construction professional, marine cargo, cyber, surety, executive lines, inland marine and fine arts & collectibles. On behalf of its insurance carrier partners, Distinguished typically manages all aspects of the placement process, including product development, marketing, underwriting, policy issuance and claims. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.
