Cyber insurance

Cyber Insurance: the new normal

Not a day goes by without a major cyber attack or data breach hitting the headlines. In fact, a recent study has found that a cyber attack is launched every 39 seconds.[1] No business or industry is immune – if you have an internet connection, you are at risk of a cyber attack.

Cyber criminals are becoming more sophisticated and they will continue to find ways to access your data, records, servers and networks. Having the right cyber security and risk management practices is the best way to avoid a cyber attack or data breach but, if something does go wrong, cyber insurance can help you pick up the pieces.

What is Cyber Insurance?

Think of cyber insurance like any other insurance cover you have. If there is a fire at your property, your insurance cover will help you rebuild, and cyber insurance is designed to help you get back on your feet in the aftermath of a cyber incident. Cyber insurance gives you access to a panel of experts, from legal and PR advice to IT specialists to help you control, contain and coordinate your response to a cyber incident and can cover you for a range of threats and outcomes. To arrange an obligation free chat with your local insurance broker about managing your cyber risk, please call 1800 571 941.

What Cyber Insurance covers

  • Impacts from a variety of cyber attacks – such as malware, ransomware, social engineering and human error
  • Government fines and penalties
  • Forced closure/down time for your business
  • Incident response and investigation costs
  • Loss, recovery and decontamination of data

How we can help

When it comes to cyber risk, every business or organisation needs to be prepared. Our cyber insurance specialists get to know your business and the unique risks it faces so that you can understand how best to protect yourself.

We can connect you with a range of IT service providers and security specialists, law firms as well as a suite of cyber insurance providers to help find the right strategy to meet the unique risks faced by your business.

As an insurance broker, it is our job to help you find the right cyber insurance policy to meet the unique risks you face. We will also stand by you should something go wrong, and go into bat for you if you need to make a claim so you get the best outcome possible.

Connect to an expert

No matter your industry or the size of your business our insurance broking specialists can tell you more about cyber insurance and how it could help your business. Give us a call on 1800 571 941.

[2] Cyber Security Review, Department of the Prime Minister and the Cabinet.
[3] 2019 Verizon Data Breach Investigations Report /http://mastersinlaw.
[4] 2018 Cost of a Data Breach Study by Ponemon

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