And yet many are not yet buying Cyber Liability Insurance; traditionally beyond the reach of many arts sector budgets, La Playa’s new policy provides the solution.
Until now, Cyber Liability Insurance has been prohibitively expensive for arts organisations – but specialist arts insurance broker La Playa has designed a policy just for the performing arts at specially negotiated rates from global insurer CFC Underwriting, providing the protection they need at an affordable price. The new policy ‘Cyber Portfolio’ launches on 1 November.
“You wouldn’t hesitate to buy public liability insurance or protection for your venue or equipment – so it makes good business sense to protect yourself in cyberspace, where you’re exposed to risk on a global basis,” says La Playa’s Head of Performing Arts Paula Hawthorne. “From laws you've never heard of to hackers, data protection issues and a plethora of copyright material to avoid – Cyber Liability insurance is a must for any business these days, and the arts need to get protected. Cost should no longer be an issue – these rates start at just £300."
What if…
• …your website was attacked by a virus?
• …one of your employees made a defamatory statement on social media?
• ...you were responsible for a data breach if your employee’s laptop was stolen?
If you have an online presence and are using social media, then you’re vulnerable. Globally. Content, data, intellectual property and defamation – all present major risks. It’s important to work with an insurance broker who really understands the arts and can support you with expert advice and specialist insurance.
Case Study
A UK arts venue had malicious coding inserted into their files from an outside virus attack with the aim of infecting every visitor to their website – despite having suitable firewalls in place. On discovery, the website had to be closed down, a temporary site built – and months later, a permanent one. The costs of the investigation, the temporary and permanent new websites amounted to around £12,000. With no Cyber Insurance in place, this was a significant hit to the venue’s finances.
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For more information, contact;
Paula Hawthorne, Head of Performing Arts & Entertainment
T: 01223 200654 E: paula.hawthorne@laplayainsurance.com
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