Cyber security is not necessarily an issue you might immediately associate with a property. However, as cyber technology is advancing rapidly, private landlords and those responsible for commercial properties, unoccupied properties, or rental properties, that keep confidential information such as banking details, tenant information, and business specifics, could be targeted by cyber criminals.
Some landlords and property owners may choose to manage their tenants and properties directly, and without any involvement from a third party such as an agency. However, that does not mean that cyber criminals will not be tempted to steal sensitive information from landlords, property owners and tenants alike.
Cyber-crime has become increasingly common, and increasingly sophisticated, with recent data showing that 43% of UK businesses and 28% of charities were hit by cyber attacks over the past year. For Landlords and property owners, cyber-crime is a very real threat.
It is not just sensitive and personal information that is at risk from cyber criminals. If private landlords or specialist property agencies are targeted, the disruption could cause significant financial stress, a damaged reputation and open the possibility for liability and legal damages.
A traditional commercial insurance policy is extremely unlikely to protect against most cyber exposures. Insurance policies for private landlords or owners of an occupied or vacant property, may find that their current policies do not cover for cybercrime either.
With the introduction of general data protection regulation (GDPR), landlords and agencies alike could face stricter penalties for lax data security.
However, specialist cyber-insurance policies have been created by companies such as Guardcover’s parent company, PIB Insurance Brokers. These policies are designed to protect you and your business from cyber-crime and help you avoid operational disruptions and data breaches.
To explore more helpful guides, head over to the Guardcover website.
Guardcover is a trading style of Thistle Insurance Services Limited. Thistle Insurance Services Limited is authorised and regulated by the FinancialConduct Authority. Firm Reference Number 310419. Registered in England No. 00338645. Registered office: Rossington’s Business Park, West Carr Road, Retford, Nottinghamshire, DN22 7SW. Thistle Insurance Services Limited is part of the PIB Group.
This article was submitted by Guardcover as part of an advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the advertiser and not those of Today’s Wills and Probate.
