Did you know that approximately 30,000 websites experience hacks or cyber-attacks every day? In fact, in 2022, 50% of nonprofits fell prey to a cyber-attack.
In today’s world, all nonprofit organizations must take measures to address cybersecurity risks. As their insurance agent, you play a critical role in helping them secure and protect their data from a cyber security breach with the best cyber liability coverage.
Help ensure your nonprofit clients have the right protection against the most common cyber threats with these three questions:
Is Your Client Protected Against an Email Breach?
Email security is critical to any organization, including nonprofits. A few simple steps can go a long way in protecting your clients against phishing campaigns and more.
As the expert, encourage your clients to integrate these precautions into their daily practices:
- Educate staff with security awareness training, for example, how to recognize suspicious emails from legitimate ones
- Keep email software updated at all times
- Implement an email safety policy, such as instructions on what type of information can be shared via email
- Activate multi-factor authentication
- Use long, strong passwords like these FBI-recommended passphrases
Is Your Client Vulnerable to Business Interruption from Hacked Software or Systems?
A system or service interruption due to a cyber-attack can prevent your client’s organization from functioning entirely, which can cause a “business interruption”.
Even as a nonprofit or human service organization, this type of event can be exceptionally costly. The best way to protect your client against the damages and losses caused by a cyber-attack is with cyber liability insurance from a trusted partner.
Cyber liability insurance is critical for any nonprofit or human service organization that routinely handles donations, personally identifiable information, and other data that attackers target frequently. Cyber liability insurance products comprise two elements: first and third-party coverage.
- First-party cyber liability covers the financial and material damages sustained due to the attack. It can also include investigative and data recovery services.
- Third-party cyber liability covers damages sustained by your customers or partners due to the data breach, such as legal fees, settlement costs, or media liability expenses.
Is Your Client’s Website Protected from Ransomware Attacks?
Ransomware attacks result from successful malware injections into an organization’s system. Work with your client to incorporate these ransomware protection best practices today:
- Keep antivirus, firewall, anti-malware software, and other security tools up-to-date, and scan systems regularly, at least once a week, to detect ransomware infections before they trigger.
- Implement a data backup solution that can recover encrypted and ransomed data in case essential malware protection methods fail.
- Encrypt all data to protect from a potential leak – even if the organization does not pay the ransom
- Educate employees and organization members on cyber safety, like how to avoid suspicious links or not inserting unknown USB drives and other portable media into organization computers
- Get the best cyber liability insurance in place to protect against future ransomware threats.
The Right Coverage
At Convelo, we offer comprehensive insurance coverage and risk management solutions to protect nonprofits and social service organizations from a cyber or data breach.
We understand better than most that our job is to provide the best possible coverage, at the most competitive pricing, so these organizations can carry on with their missions with peace of mind.
Together, we can help you deliver the best policies that cover these unique risks and fully support your client – at a competitive rate. We’re licensed to do business with nonprofit organizations in 50 states, and we customize each policy to meet your client’s unique exposures.
Contact us to learn how Convelo Insurance Group can help you with your client’s professional cyber liability risks and coverage needs today.