531320

Offices of Real Estate Appraisers

Cyber Liability Insurance for NAICS 531320

CYB

Ranked reasons a business in NAICS 531320, Offices of Real Estate Appraisers, needs Cyber Liability coverage. Each reason is specific to how this industry actually loses money, and ends with the question to ask before the objection comes up.

  1. 01

    Appraisals move lending decisions and are targeted.

    • Appraised value determines whether and how much a lender will lend.
    • Altered reports enable mortgage fraud.
    • Lenders and regulators investigate appraisal integrity directly.
    ASK
    How are your completed appraisal reports protected against alteration?
  2. 02

    Reports and workfiles must be retained by regulation.

    • Appraisal standards require workfile retention for defined periods.
    • State boards and lenders can request those files.
    • Files you cannot produce are a licensing matter.
    ASK
    How long are your appraisal workfiles retained, and where?
  3. 03

    Property and borrower data flows through your files.

    • Files carry property details, borrower information, and transaction data.
    • Lenders provide that data in confidence.
    • Every affected party must be notified.
    ASK
    What borrower and property data do you hold in your files?

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