April 26, 2013
Nonprofits need to maximize their budgets and can't afford to let a data breach drain available capital at the organization. A recent survey conducted by global professional services company Towers Watson revealed companies are paying more attention to risk management and increasingly guarding against a number of cyberthreats.
Risk managers protect organizations
The research showed 39 percent of respondents have made investments in network security/privacy liability policies, an 11 percent increase from last year. With decision-makers at nonprofits showing they are trying to protect the company and limit risks, the potential of a data breach and cyberattack may not be as devastating as originally believed.
"Our survey results show a mounting awareness of cyberattack capabilities, which require a more comprehensive protective net than reliance on even the most capable IT staff," said Larry Racioppo, vice president of the executive liability group at Towers Watson. "Yet, six in 10 companies are still without a liability policy in place, and this is alarming. The financial and reputational costs companies face could be enormous if they don't develop comprehensive risk strategies to thwart cyberattacks."
Data breaches are almost inevitable
Risk managers at nonprofits are making a smart choice when purchasing network security and privacy liability policies because cybercriminals are becoming smarter, making it more likely for them to find a way into an organization's virtual infrastructure. In fact, recent data compiled by Lieberman Software showed more than 70 percent of IT security professionals are not very confident in their organization's ability to prevent a potential data breach.
"While vendors of conventional security products – like firewalls and anti-virus – are constantly updating their tools to reactively protect against the latest threats, hackers are looking for flaws and engineering new attacks to exploit them," said Philip Lieberman, president and CEO of Lieberman Software.
Ready to chat? Get in touch today to request a no-obligation savings evaluation.
First Nonprofit has saved us so much money over the state’s program. We had one little glitch with the state recently and we contacted FNP immediately. FNP staff called us back immediately and moved to remedy the problem.
First Nonprofit has been a great partner. They have helped us saved hundreds of thousands of dollars! They have awesome resources for our nonprofit organization. Thanks for the partnership.
Life is certainly busy these days but having business partners like First Nonprofit has made some of the process hassle free. We have worked with this team for years. When we changed payroll systems, they outlined every step. I think this team is terrific and I know they get the job done! Thank you, Cruz, to all the team at FNP.
FNP has helped our agency to save thousands of dollars every year on our unemployment coverage. The service is phenomenal, and we are thankful to their team as our partner. My experience working with Marshall on the advocacy around UE for nonprofits was also a highlight as someone who teaches advocacy and lobbying for nonprofits. Really, your whole team is top shelf, so thank YOU!
Chicago Children’s Theatre has greatly benefited from our partnership with First Nonprofit, and I have always enjoyed working with the staff on our filings and any complicated questions. I would not hesitate to recommend First Nonprofit to fellow nonprofits. We’re very happy customers.
FNP is a great resource for Daniel Kids. To have a TPA that we can count on to take point on not only managing our unemployment claims, but to support and guide any protest hearing, is invaluable. All the professional support staff we have worked with have been excellent, very knowledgeable and responsive. We are grateful for the help and support, thank you.
When I first began in my position at my organization, I hadn’t had experience working with a company like FNP. The staff was so patient and helpful in helping to explain the benefits of First Nonprofit. Anytime I reach out with a question I receive a quick, clear, and thorough response. I’m so thankful that we decided to partner with FNP. Their excellence in customer service, coupled with their variety of packages frees us up to truly serve our staff and community with a peace of mind knowing that our organization is protected against unanticipated unemployment insurance expenses.
First Nonprofit gets an A+ in my book. You are so easy to work with & very knowledgeable! Whether it is my quarterly correspondence with Kim or my random interactions with Dawn about a bond … I am so pleased that I get to work with such a helpful company. Thank you!