Cyber Protection Insurance

Most business people are well aware of the threats that can originate :

  • Data breaches and cyber events are occurring on an ever-increasing basis with regular reports of breaches occurring at well known organisations, including Government Departments and ASX listed companies.
  • Every organisation relies on digital in some way – to communicate….. to transact…… to compete……
  • Cyber risk affects all organisations, regardless of industry sector or size

There is no such thing as an impenetrable system. An innocent click on an attachment or link by an unsuspecting employee can open the floodgates.

A Cyber Protection policy will provide you with comprehensive cover to help you overcome potential cyber attack and data breaches that you will inevitably face.

This relatively new insurance cover will protect you against:

  • Cyber extortion
  • Data restoration
  • Costs of forensic consultants
  • Impact on your revenue
  • Fines, penalties & defence costs
  • Loss of funds due to cyber theft including phreaking and phishing
  • And more

If the above doesn’t get your attention, the following might, as from Feb 22, 2018 businesses are obligated to comply with the Notifiable Data Breaches (NDB) scheme, which imposes a set of specific requirements on you in the event personal information is compromised.

This can include very substantial fines You can face fines up to $1.8m for organisations and up to $360k for individuals if you fail to comply.

Contact Melbourne Insurance Brokers today.

Contact us now on 03 9686 0688 to learn how you can benefit from Cyber Protection Insurance.