Posts Tagged ‘cyber insurance’
New Nevada HOA Cyber Insurance Mandate: Are Your Community Association Clients Prepared?
By Mike Schleich, National Business Development Leader for Community Associations Nevada’s 2023 legislature passed a new HOA law requiring community associations to carry Cyber Liability insurance if they utilize a website or electronic portal to collect monthly assessment fees online. Community associations receive and store unit owners’ bank account numbers and/or credit cards, as well…
Read MoreHow to Be Prepared for Cyber Monday Hacks
Cyber Monday is the appointed day when people frantically shop online for the best deals in time for the holidays. Everything from TVs, phones, and laptops to mattresses and appliances are promoted as being available at the lowest price all year. According to Adobe’s yearly shopping insights report, retailers reported a whopping $10.8 billion in…
Read MoreResponding to Hotel Data Breaches
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…
Read MoreWhy Hotels Need a Cyber Insurance Policy
Having a separate Cyber insurance policy is vital to corporations that store any sort of customer data. Too often businesses mistakenly believe that their Commercial General Liability (CGL) insurance will respond in the event of a data breach. This isn’t so as reflected by the latest case involving a Florida hotel group looking to its CGL policy…
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