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Hotels and resorts hold significant cyber liabilities because of the nature of their business. They handle huge amounts of personal identifiable and other sensitive information, including: names, dates of birth, passport details, occupations, as well as debit or credit card details – and that’s just the extensive privacy exposures they face.
Like many businesses today, hotels and resorts operate primarily through computer networks. Room keys, smart elevators, air ventilation and security systems are all computerized. If a system goes down, or there’s a network security compromise, that could lead to significant financial losses, business interruption, and possibly even physical injury or property damage.
“There’s a common misconception that cyber liability always includes a bad actor and data breach, but that’s not the case. There are two key components to cyber risk: privacy and network security. The hotel industry faces both exposures intertwined and independently,” commented Shiraz Saeed, national practice leader, cyber risk, Starr Companies.
“What makes cyber liability unique in today’s hotel industry is the scale of…
