Real estate professionals use the Internet constantly. From listing their homes for sale in Oviedo or Coral Gables luxury homes to contacting potential home buyers and sellers via email.
Working and interacting on the Web is part of everyday business for realtors, as it is for most everyone. Because of the business of real estate is highly consumer facing and relies heavily on technology to conduct business, many realtors are considering cyber insurance.
Cyber coverage can cover both first-party and third-party costs, and typically works to protect policy holders from any breaches that may arise from a variety of Internet issues.
Two most concerning for Oviedo real estate professionals and other realtors include:
1) Network security
With millions of security breaches reported every year, the question is not if you get hacked, but when. Internet security firms says many of us never realize that are systems have been hacked, and we may never know. This is why it is best to assume you will be and plan accordingly.
Cyber insurance can protect Coral Gables luxury homes realtors as well as others from any backlash they may face if a consumer data breach occurs. If clients look to you for compensation, you are covered.
Network security also covers if data gets destroyed, a virus is transmitted, or if you fall victim to cyber extortion. This last one most often happens when a realtor clicks on a link in an email which provides cybercriminals with access to your desktop and company network. After a short period of time, you will not be able to access any of your files. A ransom email will be sent requesting payment in order to release the files back to you.
2) Privacy
Cyber insurance can protect you from anyone looking for reimbursement due to a network security failure. It also can be used if there is a breach of physical records. For example, if documents are mistakenly thrown away in a dumpster, if a laptop gets lost, or a file with customer account information is accidentally sent to the wrong email address, you are covered.
Depending on the cyber coverage taken out, realtors may also be covered if facing liability from a privacy breach that includes an action like an accusation of wrongful collection of information.
General Tips on Securing Data
Oviedo real estate professionals, Coral Gables luxury homes realtors, and others in the industry can work to prevent private data from being taken and used by being mindful of the following:
Hide Personal Information
Tell your sellers: DON’T leave personal information like mail or bills out in the open where anyone can see it. Be sure to lock down your computer and lock up your laptop and any other expensive, easy-to-pocket electronics, like iPods, before your showing.
Block Identity Theft
Contact the fraud department of any of the three consumer reporting companies — Equifax®, ExperianSM and Trans Union® — to place a fraud alert on your credit report. The fraud alert automatically lets credit card companies and other creditors know they must contact you before opening any new accounts or making any changes to your existing accounts.
Monitor your Financial Accounts
Open your credit card bills and bank statements right away. Check for any unauthorized charges or withdrawals and report them immediately. Call if bills don’t arrive on time. It may mean that someone has changed contact information to hide fraudulent charges.
Beware of “Phishers”
Don’t respond to emails requesting personal or private information such as passwords, credit card numbers or bank account numbers. Even if a message appears to be from your bank or a trusted vendor, credible companies never request private information this way.
Check Suspicious Emails
Before you act on an email request, check a list of the latest email scams on the Federal Trade Commission’s website.
Be Aware of Adware and Malware
Be sure that you don’t click on error messages with unfamiliar logos that state “your computer has been infected with a virus” or “Trojan found” These messages with unfamiliar logos will tell you there is something wrong with your computer and to download their protection service, when in actuality you are downloading a virus and setting yourself up for information loss.
Shield Your Computer from E-Mail Viruses
Computer viruses can impair and seriously damage your computer. Viruses are often distributed via attachments in e-mail spam. Never open an attachment from someone you don’t know, and, if you receive a strange or impersonal-sounding message from a familiar address, check with that person to make sure that they really sent it.
Your Email is Public
Even if you do your best to protect your computer, cell phone, and tablet from viruses, hijackers, and the like you still should approach anything that you do online as public.
Don’t send any vital or private information via email. Keep in mind that unlike websites, email is never secure.
