Cyber Security Insurance Broker
Hackers used to be a thing that only existed in action movies, but in today’s ever changing world, they are now real people, doing real Cyber Crime damage to businesses around the world, including Australia.
What is Cyber Liability Insurance
If you’re thinking your small business down under is of no interest to these cyber criminals, think again. Every business with an online presence is exposed and potentially at risk of a cyber attack. Cyber crime claimed approximately 6 million victims in 2018 It has never been a better time to get the right cover for your business.
Cyber Liability insurance is designed to help protect your business in the event of a cyber breach or attack. Costs associated with defending a cyber claim can also covered. Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to a cyber event.
Cyber crime costs Australian businesses $1 billion annually – yet it remains one of the least insured policy areas. As one of the leading insurance brokerage firms in QLD our cyber insurance broker team can walk you through all the policy ins-and-outs and work with you to design the best insurance policy for your cyber security needs.
What is normally included?
- Business interruption costs
- Investigation and data recovery costs
- Fines and penalties
- Extortion costs
- PR and crisis management costs
What is typically NOT covered?
- Replacement equipment
- Property damage
- Prior known facts / circumstances (before the policy commenced)
- Intentional acts
Get the Cyber Security insurance cover that is right for you
Our insurance brokerage company has access to multiple insurers where you can choose coverage amounts between $50,000 to $2 million
Could your business survive the reputation damage, and the losses associated with a data breach? What if your website was taken off-line ?
You should consider what your business requires, including by reference to:
The type of risks to your business and the likely cost to manage and recover
The amount and nature of customer data you store and the security arrangements in place to protect that data
Who benefits from this type of Business Insurance:
- Any business that trades via a website or online platforms
- Businesses that use email
- Any business that deals with customer data
- Retailers who use EFTPOS machines
- Companies reliant on IT systems to conduct business
- Example occupations: Doctors, Lawyers, Accountants, Consultants, Estate Agents, Insurance Brokers, Retailers etc
To see some real life claims examples, follow the below links:
Talk to our team
If you require a cyber broker you’ve come to the right insurance brokerage firm. Our cyber insurance brokers are experts in Cyber Security insurance and are here to help you select the right cover for your individual needs including reviewing any existing policies.