New Cyber and Data Insurance Paper
As an independent insurance broker, Ladbrook work with over 40 insurers, aiming to provide charity insurance advice and products that is competitive and suitable for our clients needs.
One of the insurance providers we work with, Case Insurance, a leading charity specialist have produced a paper on the emerging risks of a cyber and data nature that charities face. At Ladbrook, we have been advising clients on these risks for some years. The Information Commissioner fined their first charity only a few years ago and organisations we work with are concerned about hacking, data security and viruses.
The need for exclusive cyber insurance can only be determined when considering a number of factors. Existing cover may already provide some level of protection, particularly if your charity insurance includes elements of public liability, trustee indemnity, business interruption or professional indemnity.
We have provided some resources online before, including this blog which includes a video from Hiscox Insurance as well as this cyber insurance paper that we wrote ourselves. the Case paper can be found following this link. It is a very balanced view and worth a read if you also are considering the data and cyber risk to your charity.
Get in touch if you want to discuss any of your exposures to risks of this nature, one of our qualified charity insurance advisers will always be delighted to help.