Unauthorized access to student and employee personal identifiable information (PII) is the No. 1 cyber-related threat to the education sector. This is no surprise due to the number and value of records cyber criminals can access via the hacking of a school district database or ESA. Unauthorized access to student information can cause long-term harm and often is not discovered until adulthood. Furthermore, the typically required response, which includes notification, credit monitoring and IT forensics, ranges in cost from $100K to >$1M.
Unauthorized access to student information can cause long-term harm and often is not discovered until adulthood.
The second biggest threat that education service providers face stems from the malicious use of ransomware for cyber extortion wherein the perpetrator encrypts valuable data of the victim and demands payment in difficult-to-trace cryptocurrency in exchange for the encryption key. Often these ransom demands are $10,000 or much more depending on the perceived value of the data and the financial strength of the victim. Such events have become everyday occurrences requiring special protective measures in addition to the best cybersecurity services or frameworks. The threat is made more daunting by the constantly evolving array of computer-based attacks designed to challenge even the best preventative measures.
Ransom demands are $10,000 or much more depending on the perceived value of the data and the financial strength of the victim.
As the endorsed business partner of AESA, USI’s Education Practice has designed a market leading cyber insurance program. The AESA Cyber Insurance Program is designed to address the cyber needs of the education sector with superior coverage terms, cybersecurity services, and the most competitive pricing available. USI’s ability to negotiate favorable terms derives from the combined knowledge and data of 7,000 insurance professionals placing coverage for 150,000+ clients as well as its status as the largest privately-owned insurance brokerage in the US.
The AESA Cyber Insurance Program is designed to address the cyber needs of the education sector with superior coverage terms, cybersecurity services, and the most competitive pricing available.
The AESA Cyber Insurance Program provides a single solution for ESAs and districts regardless of size or scope of operations. First, the insurance itself consists of all traditional coverage including data breach while offering cutting edge terms protecting lost revenue due to attacks resulting in network interruptions or reputational harm. Second, we offer access to leading cybersecurity services and proprietary software free with cyber policies. Finally, the process for obtaining a quote is simple – requiring only a web address and standard business information. Based on that input, Coalition can passively scan for vulnerabilities in your publicly facing network and present a comprehensive, cyber liability quote.
AESA is partnering with USI Insurance Services to bring you a free webinar, "Cyber Security and Risks – Is your ESA Prepared?" on Thursday, October 24, 2019 at 1 pm (EST); Noon (CST); 11 am (MST); 10 am (PST). Join us to find out what you can do to prevent a cyber incident in your organization.