Cyber Insurance for Schools and Multi Academy Trusts
10/15/2024
In todays tech focused world, Schools and Multi Academy Trusts use digital ways of working more and more. As a result, cyber security is an essential need for school management. At Zurich, we recognise this and as such, have partnered with Howden, the new name for Endsleigh, who are a specialist education insurance broker to provide the Cyber Cover our schools need. Howden provide bespoke cyber insurance which can be tailored to the needs of your school. With over 60 years of experience, Howden provide robust risk solutions specifically designed to protect schools and Multi Academy Trusts from cyber attacks.
The Growing Importance of Cyber Insurance in Education
The increased use of technology in schools has made cyber insurance crucial. Not only does it offer protection against financial and reputational damage caused by data breaches and cyber attacks, but it also gives you access to legal advice and expert support to help project manage a cyber event from start to finish.
What’s Covered?
Howden's cyber insurance for schools is a detailed insurance policy, covering a wide range of cyber threats such as malware and phishing to name a few. The policy can be tailored with the limits of indemnity and excess your school or trust needs. The Key areas of cover include:
Incident Response and Notification
- 24/7/365 Incident Helplines: Schools will have access to helplines and notification centres to report cyber events 24 hours a day, 7 days a week. This helps with a rapid response to reduce damage and any financial impact.
- Project Management Support: From the initial attack to full recovery, schools receive project management support, including access to industry experts who help in restoring systems and managing public relations to mitigate reputational damage.
Legal Assistance
- Legal Help and Breach Notifications: Get help with drafting breach notification letters to affected parties and regulatory bodies, following compliance with legal requirements.
- Forensic Analysis: Expert analysis of your systems into how the incident happened – this forms part of the report to regulatory bodies.
Blackmail and Liability Cover
- Extortion Costs (Blackmail): Coverage for costs related to removing malware and any ransom payments that may need to be made in bitcoin or other crypto currencies.
- Liability: Protection against losses caused by the transfer of malware, viruses or ransomware including compensation costs and negotiations for retrieving stolen data.
Recovery and Operational Disruption
- Data Recovery: Costs for hiring contract staff or paying overtime to recover or rebuild data that is too badly damaged to restore.
- Lost Income and Extra Costs: Compensation for lost income and additional expenses incurred if a cyber attack significantly disrupts school operations.
Court and Extended Coverage
- Court Costs: Coverage for expenses related to attending court as a result of a cyber attack.
- Extended Coverage: Automatically includes coverage for cloud, remote, or outsourced locations, as well as human error or accidental deletion of data.
Summary
Where cyber threats are increasingly sophisticated and common, it is vital for schools and trusts to have robust cyber security measures in place.
Howden's tailored cyber insurance provides schools and trusts with detailed cover, making sure they can recover quickly and minimise damage from cyber incidents.
To find out more on what’s covered in the policy and why you may need it, download their guide.
