Private Schools Save Big with Cyber Liability Secrets

Real-World Examples

Consider the case of a private school that suffered a data breach impacting thousands of student records. Without cyber liability insurance, the school faced over $500,000 in recovery costs and legal fees. In contrast, a similar institution with a comprehensive cyber policy not only covered these expenses but also accessed expert support to prevent future breaches³. These examples underscore the financial and operational benefits of having the right insurance in place.

Implementing Cybersecurity Best Practices

To maximize savings and reduce risks, private schools should adopt cybersecurity best practices. These include regular audits of IT systems, encryption of sensitive data, and creating an incident response plan. Schools should also ensure that all staff are trained to recognize phishing attempts and other cyber threats⁴. By following these steps, schools can not only reduce the likelihood of a cyber incident but also potentially lower their insurance premiums.