The HOA Communication Strategy to Fight Cybercrime

An HOA communication strategy must be consistent with the current best practices in cybersecurity. Additionally, associations have an affirmative duty to act in the best interests of its memberships, which entails securing individual members’ personal information and restricting access to the association’s finances.

The HOA Communication Strategy To Stay Ahead

A comprehensive plan to protect an association’s communications and data against pervasive cyber threats should incorporate these key directives.

Create Clear Policies To Build a Substantive and Structured HOA Communication Strategy

An indispensable component in an HOA strategy is a working playbook that lets board members and agents working on the association’s behalf know precisely what they must do to protect the association against cyber risk and hackers. Thus, establishing and enforcing clear guidelines regarding how information is transmitted and stored will prevent people from making entirely avoidable errors. It will also spare them from on-the-spot decision-making whenever they must confront new scenarios and risks online.

Invest in the Right Technological Safeguards

HOAS must use secure data storage platforms, payment processing systems, and resident account management portals. Likewise, an HOA communication strategy must protect its networks and email communications judiciously. To this end, HOAs should prioritize their technological defenses in their budgetary planning and oversight.

To maximize the efficacy of the operating systems and programs they invest in to keep their data safe, HOAs must promptly perform all necessary updates. One of the biggest reasons software publishers release updates is to counter emerging cyber threats. Postponing essential updates makes an HOA extremely susceptible to ransomware and other forms of data theft.

Get Professional Assistance With Cybersecurity

It may be advantageous for HOAs to engage professional cybersecurity or IT management service providers. Their assistance can give HOAs practical assistance with fortifying their data against unauthorized access.

However, it is essential to note that engaging reinforcements does not mean associations do not have to worry about liability concerns involving a breakdown in cybersecurity. While the errors or omissions of a third-party service provider might give an association a cause of action against that individual or business entity, the association will still bear responsibility for the acts of an independent third party working on its behalf in an agency capacity. Therefore, cyber insurance coverage remains necessary despite someone else managing cyber risk.

Include Encrypted Communications as Part of an HOA Communication Strategy

If communications between board members or property owners within an HOA fall into the wrong hands, it can result in fraud or phishing vulnerabilities. Moreover, when transmitting sensitive information, it is advisable to utilize encryption features. It helps to ensure that the content of emails is accessible to only intended recipients. Written policies in an HOA communication strategy should offer practical guidance regarding which types of messages must have encryption.

It is essential to remember that associations need to be adaptive in their approach when fighting crybercrime. Also, cybercriminals are continually employing new, innovative tactics to thwart firewalls, antivirus programs, and other technological defenses that protect data and communications. Ultimately, keeping cybersecurity initiatives current will protect associations against emerging and evolving threats.

About Kevin Davis Insurance Services

For over 35 years, Kevin Davis Insurance Services has built an impressive reputation as a strong wholesale broker offering insurance products for the community association industry. Our president Kevin Davis and his team take pride in offering committed services to the community association market and providing them with unparalleled access to high-quality coverage, competitive premiums, superior markets, and detailed customer service. To learn more about the coverage we offer, contact us toll-free at (855)-790-7393 to speak with one of our representatives.