While focused on American businesses, this item from The Kiplinger Letter offers some insights about inadequate cyber insurance coverage that can also apply to churches:
The rise in cyberattacks is upping demand for insurance, yet many US firms don’t have policies covering data. Only half of big businesses have coverage, and a mere one-fifth of [small companies do]. Even fewer are fully protected against cyberattacks. . . . As the industry standardizes policies and lowers prices, expect more [small companies] to opt in.
Insurers are expanding coverage. Most policies cover costs related to hacks that compromise data. Covering extortion—ransomware and such—may be included. Some other business policies cover ransomware-related losses, but most don’t, as electronic data aren’t considered real property.
To find out what church leaders need to know about purchasing cyber insurance, see “The Growing Need for Cyberliability Insurance.”