Cyber-attacks have continued to be a significant risk for organisations and charities are no exception. In fact, a recent survey found that over 20% of organisations have experienced at least one data breach in the last 12 months, with the average cost totalling £9,470 per charity.
Although cyber-attacks are a concern, just 6% of charities have a dedicated cyber-security insurance policy. As part of your risk assessment, consider where you could be potentially exposed to a cyber- attack;
- Does anyone in your organisation take company-owned mobile devices (e.g. laptops) with them, either to their home or when travelling?
- Do you store customer or employee data such as names, addresses, bank details, etc?
- Are you adequately insured to cover potential costs of a breach?
With sensitive data on file, cyber security is an increasing risk, from phishing and ransomware, through to accidental breaches and human error, the cyber-threats facing the not-for-profit sector are far-reaching and complex.
With over 30 years experience working with charities of all sizes, our dedicated team can provide expert support and advice on cyber liability insurance, providing effective cover against the costs associated with a data breach such as IT forensics, loss of income and third party liability.
Find out more about cyber insurance or speak to us on 0333 234 1387.