For educational institutions, cyber risks threaten sensitive student records, critical operations, and financial stability. Hacking, malware, and breaches can disrupt learning and lead to major expenses. With robust cyber insurance tailored for education, schools and universities can be prepared.
At KSA Insurance, we partner with Coalition to provide affordable and comprehensive cyber insurance that protects educational institutions against modern cyber threats.
Cyber insurance covers losses and costs stemming from cyber incidents like hacking, malware, ransomware attacks, and data breaches. It provides financial support before, during, and after an event to enable swift response and complete recovery.
Why Schools Need Cyber Insurance
Educational institutions face immense cyber risks. Student records contain highly sensitive data targeted by hackers. Schools also rely on connected systems vulnerable to disruption.
The costs of dealing with an attack can quickly spiral out of control without insurance, including:
Forensic investigations to determine breach cause and scope
Legal services to navigate compliance obligations
Notifications and support for affected students and families
Public relations to manage reputation damage
Business interruption losses from systems disruptions
Fines and penalties for failing regulations
Lawsuits and liability claims
Cyber insurance ensures educational institutions are equipped to deal with the aftermath of cyber events and breaches in a compliant and financially sound manner.
FERPA Compliance Cyber Insurance
For schools, cyber insurance is critical for managing risks associated with FERPA (Family Educational Rights and Privacy Act). FERPA violations can lead to loss of federal funding. Cyber insurance helps cover:
Investigations to determine the root cause of breach and noncompliance
Required notifications and correspondence related to violations
Credit monitoring and support for affected students
PR and communications strategies related to incidents
Defense of legal claims and regulatory actions
This provides schools with financial protection in the event of a costly FERPA penalty resulting from a cyber incident.
Student Data Breaches Cyber Insurance
Despite best efforts, student data breaches occur. When they do, a swift response is essential. Cyber insurance covers:
Forensic analysis to determine breach scope and root cause
Notification services and call center support for affected families
Credit checks and monitoring for impacted students
PR services to mitigate reputation damage
Legal defense of related lawsuits and claims
With coverage, schools can focus on helping students instead of struggling to fund breach response.
FREE CYBER RISK ASSESSMENT
Our partner Coalition offers a free cyber risk assessment, providing an overview of your risks and vulnerabilities. In addition to highlighting your vulnerabilities, the assessment includes a summary of recommended actions to help you mitigate your risk. Coalition also offers access to trained cybersecurity experts who can answer any questions you may have about the assessment or the recommendations you are provided.