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Cybersecurity is a critical concern for modern organizations, including modern nonprofits. Bad guys attack frequently, and not all of them count nonprofits off limits. It is more important than ever for nonprofits to protect themselves from potential security breaches. Getting cybersecurity insurance is an effective way for nonprofits to protect themselves from these risks.
So what exactly does a cybersecurity insurance policy help protect? We explore three big areas of protection below.
Protect your organization's budget
Nonprofits often handle sensitive information, such as personal data of donors, staff, and clients, as well as confidential financial information. Cyber criminals value this information and are constantly looking for ways to steal it. Lost data may mean lost donors, fines, or even lawsuits. All of these can dramatically affect a nonprofit carefully stewarding their funds. Cybersecurity insurance can help shield nonprofits from the financial impact of a data breach and provide access to resources for quickly responding to an attack.
Minimize damage to your reputation
A cyberattack can also harm a nonprofit's reputation. A compromise of sensitive information can cause stakeholders to lose trust in the organization. Cybersecurity insurance policies can provide the support needed to minimize the impact of a breach on a nonprofit's reputation and help restore public trust. This often comes in the form of access to public relations and crisis management experts who can help a nonprofit manage the media and communicate effectively with stakeholders.
Many nonprofits are required to comply with various regulations, such as PCI and HIPAA. Cybersecurity insurance can help nonprofits meet these compliance requirements by providing access to resources that aid in complying with regulations and for responding to data breaches. State and federal laws also regulate that organizations notify individuals if their personal information has been compromised. Cybersecurity insurance helps nonprofits meet these legal obligations by providing resources and support to respond to a breach and comply with relevant regulations.
How can Frontline Technology help with cybersecurity insurance?
Frontline Technology can help by independently assessing your organization's security stance. Assessments like these help you qualify for coverage as well as lower your rates. Our managed clients also can take advantage of a discount to their cybersecurity insurance policy simply by association.
ABOUT FRONTLINE TECHNOLOGY LLC
Frontline Technology is one of the only ministry-focused IT companies that is led by pastors and ministry leaders. With over 20 years' experience serving organizations of all sizes, Frontline understands the unique needs, budgets, and technology challenges of nonprofits.
Technology is often perceived as complicated and expensive. Many nonprofits struggle to implement the technology solutions and security needed to drive their mission forward. Frontline Technology helps nonprofits overcome their technology challenges so they can stay focused on their mission.
For nonprofits of every type and size: We Keep IT Simple
Frontline Technology is one of the only ministry-focused IT companies that is led by pastors and ministry leaders.