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The unique risk to nonprofits of a targeted cyber attack

Although cyber attacks are becoming more of a certainty than a possibility, there are still numerous companies and organizations that are not purchasing cyber insurance.

By Karen L. Sorrell, CPCU | Updated on January 12, 2018
Nonprofit organizations handle such sensitive data as emails and records on clients and donors, staff information, phone numbers and addresses, credit card data, and possibly other financial data. Nonprofit organizations handle such sensitive data as emails and records on clients and donors, staff information, phone numbers and addresses, credit card data, and possibly other financial data. (Photo: Shutterstock)

Although cyber attacks are becoming more of a certainty than a possibility, there are still numerous companies and organizations that are not purchasing cyber insurance. In addition, many are not taking proactive measures to protect data such as updating software programs and installing security updates in a timely manner.

Any person or organization with a computer is subject to a cyber attack. Unfortunately, most attackers don’t seem to have a conscience when it comes to an attack target. An attack can result in devastating financial loss to even the largest of companies; however, to a charitable organization it can mean the difference between being able to continue providing services and shutting its doors.

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