CYBER INSURANCE MELBOURNE
Every business with an online presence is at risk of a cyber attack. It’s a modern risk that needs a modern fix.
Cyber Insurance covers against the legal costs and expenses associated with data breaches, which could happen after being hacked or from the theft or loss of sensitive client information. Expenses include the cost of business interruption, forensic investigation and data recovery, ransom and crisis management costs to salvage your business’s reputation after a breach or attack. The policy also covers the financially crippling costs of defending yourself, mandatory notification costs and other legal costs.
Basically, your customer data is sacred. If you don’t protect it properly, your business could be crippled as the cost of defending yourself, making mandatory notifications and other legal costs would fall on you and you alone.
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What is covered?
• Business interruption costs
• Investigation and data recovery costs
• Fines and penalties
• Extortion costs
• PR and crisis management costs
What is NOT covered?
• Replacement equipment
• Property damage
• Prior known facts/instances
• Intentional acts
Get the cover your business needs
Each business will require a different amount of cover depending on the following:
• The type of risks to your business and adding up the costs to cover a potential breach
• The cover you already have in place with existing insurance
• Cover your suppliers, like cloud data storage suppliers, already have in place
Who benefits from this type of Insurance:
• Any business that deals with customer data
• Retailers who use EFTPOS machines
• Companies who use IT systems to conduct their business
• Businesses like Doctors, Lawyers, Accountants, Consultants, Estate Agents, Insurance Brokers, Financial Planners