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Cyber crime: A growing menace

Apr 29, 2020

All companies, large or small, are targets for cybercriminals. Unfortunately, many businesses operate under the belief that their existing insurance policies are enough to cover their data security and privacy exposures. That is not the case.

However, Australian insurers are at the forefront in making good the damage of cyber attacks. Although stopping hackers and other criminals in their tracks is not within their capability, they can provide the next best thing by picking up the financial pieces of damaged businesses following cyber attack events.

What can be covered?

Cyber attack insurance can protect you from claims arising from your use of the internet, emails, intranets, extranets or your website. Cover can include but is not limited to:

    • Breach of privacy
    • Damage to your network or website
    • Transmission of a virus
    • Third-party liability
    • Cyber extortion.

Please contact our office for more information and professional help to implement the right cyber risk protection strategy for your business.

This information is not intended to be advice and should not be relied upon as such. You should always review your policy wording carefully.

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