Cyber and Data Risks for Charities
One of the emerging risks for organisations of any nature has been the rise of threats to data and cyber security. One of Ladbrook’s key insurance partners, Hiscox, have produced the following guide to cyber and data insurance.
Ladbrook: Cyber Insurance for Charities
While the below video guide is not charity specific, many non profit organisations will be able to identify risks that they face. In some cases, the third sector is perhaps even more exposed to cyber risks. For example, charities that work with vulnerable people may be holding data on personal medical conditions.
This year, there have been some unfortunate high profile cases involving charities that have been engaged in dubious fundraising activities, or charities whose governance has come under scrutiny. One could speculate that this might mean that some charities might become the targets of hackers.
Technology and data are fundamental to doing business today. With the digital landscape changing so quickly it can be difficult to know where the next risk is coming from.
External threats and internal errors pose risks and if your data or network was compromised, your business could quickly grind to a halt.
This could be an employee losing (or worse) stealing your sensitive customer data, a virus in your computer network or even a hacker closing down your company website.
Hiscox Cyber and Data Insurance can protect your business and give you peace of mind. If something were to go wrong the consequences could be severe.
If you experience a data breach, the cost of fixing problems and business delays can quickly mount up. Negotiating with industry regulators and managing investigations takes time. And effected customers could sue for damages. Or, if your computer systems or website are targeted by a hacker you may be unable to trade. Any of these situations could cause long term damage to the reputation of your business.
At Hiscox, we can understand the anxiety this can cause. That is why if something goes wrong, we will work with you to put it right. We give you access to a team of experts who will assess the sitatuation and what steps need to be taken to minimise damage to your business. During this time, prompt, confident communication is critical so we will put you in touch with a specialist PR firm who can help protect your reputation.
With Hiscox Cyber and Data Insurance you don’t need to worry about the changing digital landscape because you can rely on us.
Hiscox, as good as our word.