Interesting read in yesterday’s Las Vegas Review-Journal about a new Nevada law that protects homeowners’ online payments with cyber insurance. It went into effect on July 1, 2023. The law requires homeowner associations (HOAs) to use cybersecurity insurance to protect homeowners’ data and to have certain data protection measures in place.
The law was passed in response to concerns about data breaches. In recent years, there have been a number of high-profile data breaches at HOAs, which have exposed homeowners’ personal and financial information.
The new law requires HOAs to purchase cybersecurity insurance that covers at least $1 million in damages. The insurance must cover a variety of cyber risks, including data breaches, ransomware attacks, and phishing attacks.
The law also requires HOAs to implement certain data protection measures, such as:
- Using strong passwords and multi-factor authentication
- Encrypting sensitive data
- Regularly backing up data
- Training employees on cybersecurity best practices
The new law is a positive step towards protecting homeowners’ online privacy and security. By requiring HOAs to use cybersecurity insurance and implement data protection measures, the law helps to reduce the risk of data breaches and other cyber incidents.
What homeowners can do to protect themselves?
In addition to the new law, there are a number of things that homeowners can do to protect themselves from online fraud and identity theft. Here are a few tips:
- Be careful about what information you share online. Only share your personal and financial information with trusted websites and businesses.
- Use strong passwords and multi-factor authentication for all of your online accounts.
- Be careful about clicking on links in emails or text messages. If you are unsure about a link, do not click on it.
- Keep your software up to date. Software updates often include security patches that can help to protect your devices from malware and other cyber threats.
- Monitor your credit reports and bank statements regularly for any suspicious activity.
Source: Las Vegas Review-Journal
Other News: Cyber Insurers Need to Protect Themselves First(Opens in a new browser tab)