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New Empire Group offers effective and competitive insurance programs and solutions for many types of commercial real estate exposures.

Cyber Security Breaches & Your Clients: Are They Covered?

Alberto Barros Alberto Barros , 3/31/2014
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Over 170 million American’s live in either community associations or apartment buildings. Property Manager’s and Building Owners store pertinent tenant information on their computers.  Have you considered what could happen if there was ever a security breach to one of your client’s systems?  Do you wonder what they could be liable for?  If you answered yes to any of these questions, you should consider the Cyber$ential Program that New Empire Group offers.  The program is designed specifically to protect Community Associations, Property Owners and Property Managers from security breaches that can result in liability for their organizations.

If a security breach were to happen to one of your clients, they could be responsible for:

  • Financial losses to those whose records were stolen
  • Costs for monitoring impacted records following a breach (these are estimated as high as $228 per record!)
  • Forensic reviews to determine the extent of the breach

Available Coverage Features for Cyber$ential include:

  • Disclosure Injury, including lawsuits alleging unauthorized access to or dissemination of the plaintiff’s private information.
  • Privacy Notification Expenses, including the cost of credit-monitoring services for affected customers, even when state law doesn’t require notification.
  • Content Injury, including suits arising from intellectual property infringement, trademark infringement, and copyright infringement.
  • E-Business Interruption, including first-dollar extra expense.
  • Crisis management & reward expenses, including the cost of public relations consultants.

These losses can come from outside hackers, accidental dissemination, rogue employees or actual physical theft.  Even if you do not think that your client’s need this coverage, it is always a good idea to look into all of the available options.  You never know when a hacker can strike!

Submission requirements:

For More Information & to submit applications:

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To learn more about different coverages for Property ManagersCondominiumsHomeowner Associations, and Cooperatives that New Empire Group offers, visit our website:

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