Types of claims it usually covers
Here’s a list of some claims your hotel gets coverage for under the Cyber Liability Insurance.
- Denial of service attacks or the inability to access websites or systems
- Unauthorized access to data
- Unauthorized use of data
- Unauthorized tampering of data
- Disclosure of confidential data
- Malicious or accidental loss of data or digital assets
- Introduction of malicious code or viruses
- Personal media injury (defamation, libel, or slander) from electronic content
- Data or system restoration
- Business interruption expenses
4 Reasons your hotel needs it
- Data hack attacks
Hotels host and share sensitive client data like home addresses and credit card numbers with outside vendors they cannot control. This data can lead to many bigger crimes if it is not handled carefully. As a hotel owner, it is your responsibility to keep this data safe. You are also liable for any mishap that may happen with this data. Cyber Liability Insurance makes sure that such claims and legal accusations are dealt with less hassle or damage to your hotel.
- Ransomware
Ransomware can control the functioning of your systems that are controlled by computers and servers like billing systems, air conditioners, escalators, elevators, locks, etc. The purpose of a ransomware attack is to gain financial benefits from organizations in exchange for the systems that are held hostage. As a hotelier, you are at high risk from cybersecurity failings that allow this type of attack to occur. Such attacks attract claims to the customers visiting or staying in the hotel for the inconvenience caused. Cyber Liability Insurance takes care of these claims for you.
- Point-of-sale attacks
Point-of-sale malware (POS malware) is a type of malicious software (malware) used by cybercriminals. This malware is designed to hack the POS information like debit or credit card numbers, CVV codes, your secret PIN. This data is further used to make forfeit cards or used for unauthorized online purchasing. If your hotel is the source of such compromised data, then you are liable for financial losses incurred to the clients. Cyber Liability Insurance comes in handy during such times.
- Identity theft
Identity theft is the most dangerous and most committed crime in the USA. It involves obtaining confidential client details like SSN, Drivers License, Passport, etc. for malicious purposes. Protecting the identity and information of a customer is the first and foremost duty of any business and hotels are no exception. One of the biggest risks hoteliers report is the hacking of guest information. Cyber Liability Insurance keeps you prepared for such legal and financial claims.
If you own a hotel, you are responsible for a lot of confidential and important information about your clients. Make sure you have a good security system in place to protect your data and a dependable hotel insurance plan to back it up. Check out our Hotel Insurance coverages and get yourself a trustworthy insurance policy.
