Cyber security insurance: why your business needs it

Cyber security insurance: why your business needs it

Cyber crime is one of the biggest threats to the Australian economy, costing over $1 billion annually.

Having cyber security insurance has become a necessity for every business in Australia. Simply put: if you don’t have it, you need it.

Before you head over to our Cyber Security Business Insurance coverage page, consider the following questions.

What if your computer was hacked? What if a hacker gained access to sensitive information about your clients, such as credit card details?

The fallout from a cyber security breach can have dire implications. It may cause reputational damage, significant out-of-pocket expenses or even put a company out of business.

They are many ways businesses can be targeted by criminals such as denial of service (DoS), email scams, botnets, worms, phishing and various viruses and forms of malware.

No company is immune. This is why you need comprehensive protection from an insurer specialising in handling cyber risks. We can help.

Our Cyber Security Business Insurance coverage, tailored to the needs of your business, will protect you.

Coverage includes first-party cyber crime expense for:

  • e-Business interruption, including first dollar Recovery Expenses.
  • e-Threat Loss, including the cost of a professional negotiator and ransom payment.
  • Privacy Notification Expenses, including the cost of credit monitoring services for affected customers.
  • Crisis Management Expenses, including the forensic experts costs and the cost of public relations consultants.
  • e-Vandalism Loss, even when the vandalism is caused by an employee.
  • Reward Expenses, including the cost of paying an informant.

We also offer third party cyber liability. For more information (and to apply now) click here.

 

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