Charity Insurance | Social Enterprises | Voluntary Organisations | Community Groups

Cyber Insurance now an option with Ansvar

Recently, Ansvar have announced that their Cyber Insurance cover is available as an add-on to two of their small charity products. These are:

  • Charity and Community Connect
  • Charity Protect Plus

The cover options available are £25,000; £50,000 or £75,000. Higher limits are available with other providers as stand-alone policies or as part of other insurer packages but the cover limits provided by Ansvar may be suitable for some smaller charities.

They have also provided a Cyber Protection Guide that explains some of the common exposures that you may face and goes on to explain why your standard policy cover does not offer any protection against these kinds of risks.

Some common cyber exposures

Cyber liability

Organisations have certain responsibilities when managing, securing and using data. Failure to adhere to these responsibilities could result in action by the regulator and fines being given. At the same time, if the person or organisation to which the data relates suffered a financial loss, or harm to their reputation because of your failure to adhere to these responsibilities, a civil liability case could be created.

Claims example:

Property management firm’s email system became corrupted. IT investigation needed to confirm a virus was the cause. Former customer sued for damages after being infected via an email
Claim value: £45,000

Expenses following a data-breach

The costs to you following an unauthorised or inadvertent loss of data are not limited solely to legal costs and any amounts of compensation you may have to pay.

You may incur further costs:

a. Investigating the extent of the issue
b. Informing the affected parties that their data has been lost or illegally accessed
c. Providing support to affected parties
d. Reducing the impact of a loss of data on your reputation, which may include hiring public relations specialists.

Claims example:

Accountant’s laptop stolen containing 800 customer tax records. Cost to investigate breach, take legal advice and notify clients.
Claim value: £35,000

Ansvar Insurance, part of the Ecclesiastical Group are a leading insurer specialising in the charity insurance sector.