Data Privacy Day, also known as International Privacy Day, is an important event aimed at raising public awareness about the risks associated with sharing personal data. It was initiated by the Council of Europe in 2007, commemorating the signing of the Council of Europe’s Data Protection Convention, or ‘Convention 108,’ on 28 January 1981.
This convention is regarded as the first binding international instrument in the field of data protection. It established the foundational principles that have been further developed and integrated into current regulations, including the General Data Protection Regulation (GDPR).
The impact of cyber-attacks
Last year’s cyber-attack on Knights of Old, a 160-year old haulage company forced to close its doors after the incident, is a firm reminder to protect your data.
Their experience shows that a single cyber incident can have existential consequences, especially for firms without the resources of major corporations. Beyond financial loss, the reputational fallout can be severe, eroding customer trust and future business prospects, and even large retailers like Marks & Spencer and the Co-op have faced significant disruption from cyber incidents, proving that size is no guarantee of safety.
The cause and additional costs of an incident
When it comes to running a council, a data breach or unauthorised network intrusion can occur from a number of sources, such as:
• Your staff receiving fraudulent emails
• Viruses, spyware, malware
• Impersonation of your council in email/online
• Ransomware
• Employee negligence
Typical losses include:
• Legal expenses
• Forensics and IT specialists expenses
• PR Consultant expenses
• Data restoration
• Business interruption
• Notification expenses
• Regulatory fines
• 3rd Party liabilities
In order to prevent an incident, we recommend that you assess the risks to your information and systems with the same vigour you would for legal, regulatory, financial or operational risks.
Cyber insurance: how can it help you?
Cyber insurance is designed to help organisations recover from the aforementioned scenarios. It provides financial protection and access to expert support when a breach occurs, covering costs such as data recovery, legal fees, business interruption, and even ransom payments in some cases. The rise in ransomware-as-a-service and the growing complexity of attacks mean traditional defences are no longer enough.
Do note, however, that insurance complements security. Cyber insurance is not a substitute for strong security practices, but it is a vital component of a comprehensive risk management strategy. Make sure to regularly review your coverage to ensure it matches your current risk profile and business operations, and train staff on how to handle data safely. Simple actions, such as using strong passwords, enabling two-factor authentication, and being cautious about what we share, can make a significant difference.
Need more information?
For further guidance on how best to safeguard your council from cyber threats, check out our resources below, or speak to our team today via 0330 013 0036 or [email protected].
Clear Councils – Cyber insurance
Ecclesiastical insurance – Cyber insurance Risk Management
