The National Association of Realtors (NAR) will launch a new cyber liability insurance product after a new partnership with CyberPolicy.
Its new policy will help its brokerages to compare, quote and purchase cyber insurance plans from an array of carriers. It launched the service to help lower risks of fraud in the real estate industry and increase the preventative and educational resources available.
This partnership will see CyberPolicy offer customized plan options which will help brokers restore operations following a cyberattack or fraud incident. It will also help them recoup losses and legal costs, recover stolen data and preserve professional reputations.
NAR CEO Bob Goldberg said, “Cyber security threats are fast-growing in the US. “And while some progress has been made to increase awareness and prevention efforts, it’s clear that there is more our members must understand to avoid these situations and to be prepared if an attack occurs. CyberPolicy will provide access to a key piece of that puzzle through a specialized program created specifically for our members.”
NAR is a US-based trade association which supports over 1.3 million members involved in all areas of the residential and commercial real estate industry.
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