Property Management

Property Managers are targets for Cyber Criminals. Here's a few reasons why:

  • Frequent money transfers involving landlords, renters, contractors, etc.
  • Storage of Personal Information that can be used for Identity Theft 
  • Reliant on client/renter/banking data to operate (Ransomware Target)
  • No dedicated IT Department to secure the computers 

Real Estate Wire Fraud Losses saw almost a 50% increase in 2019 from 2018
The theft of 100 records with Personal Information has a 49% chance of a $100k claim. 
The theft of 1,000 records has a 26% chance of a $1,000,000 claim.

What the Policy Pays For:

  • Attorneys, Computer Forensic experts, and Other Expenses to investigate, help recover, and defend you after a Cyber Event
  • Damages, such as replacing money stolen due to wire fraud, or paying for copyright infringement or ransomware recovery.
  • Notification and credit monitoring to those who had sensitive personal data compromised
  • Upgrade of computers/software to prevent future breaches
  • 24/7 Cyber Incident Response- Cyber experts available to help you recover after a breach

What’s Covered:

  • Wire Transfer fraud- Theft of client money by fraudulent wiring instructions, etc.
  • Data Breach- Theft of private business and/or client information.
  • Multimedia Liability- Claims of copyright infringement, defamation, plagiarism from use of photos, home inspections, etc.
  • Cyber Extortion/Ransomware-Threat to release, or prevent access to client and other data on your computer unless you pay a ransom.

Policy Info:

The Realty Cyber policy has two ways to protect you, and your client’s funds; liability and crime coverage. Most cyber policies only have liability coverage and may not cover client’s funds.

  • Liability Policy Limit- Pays for attorneys, and damages you are legally liable to pay for copyright infringement, libel/slander, or, if due to a real or suspected computer hack, wire fraud, identity theft, etc.
  • eCrime- Pays to replace your, or your client’s funds controlled by you due to fraudulent wire instructions, phishing or other cyber-crime. So if your firm has Broker Held Escrow, does Property Management, etc. where you hold client funds and wire money to a fraudster. Unlike liability, no computer system hack is needed for coverage.

Gross Revenue is all Commissions and Fees received prior to any splits.

POLICY LIMIT $500,000 $1,000,000
eCRIME (wire fraud of your/client funds) $50,000 $100,000
DEDUCTIBLE $2,500 $2,500
STANDARD PREMIUM
Past 12 Months Gross Revenue:
$0 to $2,000,000
$2,000,001 to $5,000,000
$5,000,001 to $7,500,000
$7,500,001 to $10,000,000
$1,000
$1,200
$1,600
$2,800
$1,250
$1,500
$2,000
$3,500
PREFERRED PREMIUM
Past 12 Months Gross Revenue:
$0 to $2,000,000
$2,000,001 to $5,000,000
$5,000,001 to $7,500,000
$7,500,001 to $10,000,000
$800
$960
$1,280
$2,240
$1,000
$1,200
$1,600
$2,800

To download a sample of the Realty Cyber Purchasing Group policy, Click Here.

To get started, click the Start Application button below to watch a required 3 minute Wire Fraud Prevention and Cyber Security video. Once the video ends, you will be able to download the application and email it to quotes@realtycyber.com. To get started CLICK HERE.

Once we receive your application we will send you a link to pay your policy. You will usually receive your Certificate of Coverage the following business day. Your policy will last one year from your purchase date.

To download a sample of the Realty Cyber Purchasing Group policy Click Here.

Firms with revenue UNDER $10 Million

Download Application

We use a Master Policy for all Members, so you will be issued a Certificate of Coverage showing the coverage you chose. Coverage begins the day after your purchase. For more details, go to our FAQ page click here.

* Membership in the Realty Cyber Purchasing Group is required and is an additional $100.

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Insurance to Our Clients