Jump directly to the Content

The Growing Need for Cyberliability Insurance

How increased online and electronic activity exposes congregations to new risks.

Last Reviewed: April 7, 2020
The Growing Need for Cyberliability Insurance
Image: Westend61 | Getty

For consumers, recent news stories are frightening—and increasingly familiar:

  • A massive data breach involving the credit reporting agency Equifax exposed millions of Social Security numbers, driver’s license numbers, names, and dates of birth.
  • The web service provider Yahoo acknowledged that a data breach touched 3 billion of its accounts—three times as many as originally revealed.

Not long before the Equifax and Yahoo headlines, national retailers such as Target and Home Depot suffered major data breaches that involved millions of stolen credit card numbers.

On top of this, consider these insights from The Kiplinger Letter:

Demand for cyber insurance is zooming as the number of cyberattacks rises. Cyber policies cover financial losses from a range of attacks, from data theft to digital extortion. The average total cost for a data breach was more than $7 million in 2017. The ...

Join now to access this member-only content

Become a Member

Already a member? for full access.

Related Topics:
Posted:
  • November 1, 2015
  • Last Reviewed: April 7, 2020

Related ResourcesVisit Store

Board Member Orientation
Board Member Orientation
The concise and complete guide to nonprofit board service
2022 Church & Clergy Tax Guide
2022 Church & Clergy Tax Guide
Support your ministry with the most authoritative and comprehensive, year-round tax resource.
Best Practices for Technology Usage
Best Practices for Technology Usage
Establish policies and best practices to govern the use of technology for church staff.
50-State Public Accommodations Laws Report
50-State Public Accommodations Laws Report
How statutes and court decisions across the country do - or don't affect churches