Protect Your Theatre Company and Patrons with Cyber Insurance!

Posted by Grant Patten on Jul 13, 2020 7:27:49 AM

Protect Your Theatre Company and Patrons with Cyber Insurance!

Protect Your Theatre Company and Patrons with Cyber Insurance!Source: Royalty-free stock photo ID: 635676176, Shutterstock

Don’t think a cyber hack could happen to your theatre company? Well, think again! Even smaller non-profit theatres can be and have been victims of cyber attacks.

Just look at the below real-life examples of theatre company hacks to see how real this threat is:

Small Catholic theatre company hack (2015)

In 2015, a small Catholic theatre company had its website hacked, and an obscene message was placed on its homepage. After their IT team investigated and determined that there was further malware, the company had to rebuild its website and database from scratch!

Rebuilding a database from scratch is expensive and accomplishing this usually means directing attention/resources away from your business’s normal operations. With cyber liability insurance, the included business interruption coverage would cover lost income and related costs.

The “Pharma hack” on non-profits (2016)

In 2016, a non-profit theatre company was hacked, along with various other non-profit organizations. This hack targeted non-profit websites, surreptitiously displaying messages about buying Viagra and other pharmaceuticals.

Hackers usually gain access to these websites via a WordPress security vulnerability, transforming each site into an online pharmacy. They sometimes even create separate webpages within the site to host the pharmacy page or slipped keywords into the site’s content, such as “Viagra” or other drugs.

With Front Row’s cyber insurance product, the included forensic investigation covers the legal, technical and forensic services necessary to assess the cause and scope of the cyber incident.

Shakespearean theatre ransomware hack (2019)

In 2019, a Shakespearean theatre was hit with ransomware, which took down their entire ticketing system and patron information database! The theatre was getting ready to deliver their first performance of Dickens' A Christmas Carol, but the ransomware attack put a damper on those plans and they had to cancel the show. They were forced to rebuild their entire database from scratch.

Cyber risk insurance includes coverage for both business interruption (lost income) and ransomware investigation. The insurance will also cover payments to those who threaten to obtain and disclose sensitive information (privacy breach).

The included first-party cyber liability covers the cost of actions taken to “make right” a cyber attack for your patrons—things such as notifying them, purchasing credit monitoring services for them and PR efforts related to the attack.

WHAT IS CYBER INSURANCE | CYBER LIABILITY INSURANCE | CYBER SECURITY INSURANCE | CYBER RISK INSURANCE | HACK INSURANCE?

Cyber hack insurance for theatre companies is designed to protect them from certain losses associated with data breaches and hacks. After a hack, there are costs companies will incur, including (but not limited to):

  • notifying patrons that their information has been stolen (some provinces even have mandatory data breach reporting requirements)
  • paying for PR/crisis communications to explain what happened
  • paying to restore or recover any stolen data/hacked accounts
  • paying to conduct an investigation to determine what happened
  • losing money from business interruption

SO, HOW CAN CYBER INSURANCE HELP THEATRE COMPANIES?

Cyber hack insurance can help with expenses associated with managing a hack, such as incident response, crisis communications and data recovery expenses.

If you’re an Artistic Director or other theatre company employee, chances are you do a lot of work on websites and/or computers that hold databases with patron information. If these websites and/or computers are hacked, that could result in business interruption or the need to notify patrons that their information has been stolen, or both.

Protect your data and your clients' data. Front Row's cyber insurance policy is available online in 5 minutes; premiums start at $300 CAD. Platinum coverage is $800 CAD. (Prices subject to change) Up to $1,000,000 of protection is available.

90% of small businesses in Canada do not have cyber insurance: don’t be one of them. Take a few minutes to protect your theatre company and patrons!

Get a free quote 24/7 and buy online now:

Get a Quote Online In 2 Mins.

 

About: Front Row Insurance Brokers Inc. is an independent insurance broker that provides cyber insurance for a very low cost. Should a claim occur, Front Row works diligently with clients and insurers to expedite payment of claims. Front Row has offices in Vancouver, Toronto, Montreal and Halifax.

Citations:

http://www.quovadistheatre.org/the-site-hacked-rebuild-blues/
https://www.washingtontimes.com/news/2016/dec/21/pharma-hack-preys-on-nonprofits-to-peddle-drugs-on/ https://www.bleepingcomputer.com/news/security/ransomware-writes-drama-at-shakespeare-theatre/
https://www.ic.gc.ca/eic/site/smt-gst.nsf/eng/sf11177.html#s2.3

DISCLAIMER: Informational statements regarding insurance coverage are for general description purposes only. These statements do not amend, modify or supplement any insurance policy. Consult the actual policy or your broker for details regarding terms, conditions, coverage, exclusions, products, services and programs which may be available to you. Your eligibility for particular products and services is subject to the final determination of underwriting qualifications and acceptance by the insurance underwriting company providing such products or services. This website does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Whether coverage exists or does not exist for any particular claim or loss under any policy depends on the facts and circumstances involved in the claim or loss and all applicable policy wording.

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