Our insurance brokers’ approach to risk management solutions helps you to achieve the right level of insurance cover.
Choosing Gallagher gives you access to local expertise backed by international experience that will help protect your business and let you focus on what you do best.
View our expertiseOur insurance brokers’ approach to risk management solutions helps you to achieve the right level of insurance cover.
view our broker servicesOur insurance brokers’ approach to risk management solutions helps you to achieve the right level of insurance cover.
Our experts can give you the advice you need across a variety of different services.
View our servicesWe take the time to get to know your business and our specialists have expertise in all industries. We then tailor insurance and risk management advice and solutions to match your specific needs.
CONNECT WITH AN EXPERTFind out the latest information and research from our experts to help keep your business safe.
View allIn the Business Insurance & Risk Market Update H1 2022 report, our experts provide market insights and offer guidance to help you ensure your business has the right protections in place.
Get the reportFor more than 90 years, we’ve helped businesses face their future with confidence. Hear more about our story and how our experience can help you.
View allPoor cyber security practices could impact the value of a business in a potential merger or acquisition, according to EY.
While cyber is risk is growing for many businesses in Australia, and data breaches continue to reach new heights, the impact of poor cyber preparedness on other areas of a business is still misunderstood.
“There are a number of areas where cyber security really plays a significant part, both in terms of the ongoing value of an organisation and at any point where there is M&A activity,” Faizul Ali, EY’s lead partner for cyber security for transaction advisory services in the UK and Ireland said, according to City A.M.
Following a major cyber attack in 2016, internet giant Yahoo saw its own value tumble in a deal with Verizon. The two firms had originally agreed to a deal worth US$4.8bn for Verizon to take control of Yahoo.
Account names and passwords for close to 200 million Yahoo accounts were for sale on the dark web following the breach, which saw Verizon revise its offer down to US$4.48bn — a drop of US$350m.
“Cyber risk and security is about so much more than keeping personal data secure. A cyber breach has a whole host of different consequences that could come into play that many businesses don’t realise."
Robyn Adcock, Cyber Technology Practice Leader at Gallagher
“The reputation of a business can be irreparably damaged, operations may have to stop for a prolonged period of time or the company and its directors could face legal action.”
Adcock said that cyber insurance is designed to meet a variety of different challenges that can arise in the event of a data breach.
“Cyber insurance can cover you for a variety of threats linked to a data breach. Many cyber insurance policies also include a suite of expert first responders who can help reduce the damage from a data, reputation and legal perspective.”
Do I need cyber-liability insurance?