Cyber risk is an existential issue for companies of all sizes and in all industries. The integration of technology and automation, and related collection, use, and sharing of information into everyday business practices presents an enormous opportunity for efficiency and precision, especially in the real estate sector. However, it also exposes companies to additional layers of risk.
For those in the real estate industry, including real estate owners, developers, property managers, real estate investment trusts (REITs), hospitality groups, and investment managers, cyber risks are more complicated because of the multilayered environment and multiple stakeholders who are involved. Managing cyber, privacy, and technology exposures through insurance can be complex and requires expert attention to detail around some key areas: contractual risk management, insurance coverage negotiation, cyber-physical damage risk, and the constantly expanding universe of regulatory and privacy litigation.
We’ll dive into some of these key challenges and provide recommendations to address them.
Whose Liability Is It Anyway?
Real estate entities and their trading partner ecosystems are more…
