CYBER RISK and CYBER LIABILTY INSURANCE
You would be hard pressed to find a business that doesn't depend heavily on some form of technology. It just makes everything easier and more accessible. Unlike a geographic or financial risks , cyber risk is often unseen, unquantifiable and constantly changing making it is difficult to predict or control. Geography is no barrier to a hacker and unfortunately SME's are preferred targets.
A cybercrime event often means significant disruption, loss or ransom of important data and unfortunately - financial loss, with far reaching and destructive consequences for both companies and individuals.
Cyber liability is the legal responsibility that attaches to the management and protection of data – both personal and corporate. A breach or loss of data could see a company facing fines and penalties or even litigation. Most business hold or handle data that is sensitive without even realizing it. Common examples include employee files and tax file numbers, credit card information, bank account details for other businesses, employees or even customers.
Many of the costs associated with a cybercrime incident or a cyber liability breach can be covered by a cyber liability or 'cybercrime' insurance policy. This type of policy is an ideal way to help mitigate the cost if a breach does occur.
Cyber risk should rate highly on a company's risk management radar - even with security software and great processes in place.
CYBER LIABILITY POLICY FEATURES
SOCAIL ENGINEERING, PHISHING and CYBER FRAUD
PERSONAL CYBER PROTECTION
Worried about a cyber incident on your home network? We can help. In an Australian first Emergence Underwriting Agency has a product designed for the family. This policy covers you, your family, your identity, your reputation, your money and your time (wage replacement) when a cyber event occurs. Find out more here. Call us for a quote.