Whether you build information systems for organisations, process payroll online or manage something as simple as a social media page, chances are, you are not immune from the dangers of cyber attacks or serious privacy breaches.
Whether it be a DDoS attack on your website, the theft and exploitation of your password, fraud, the unauthorised access and manipulation of your clients’ data, or another threat altogether, Sunshine Coast businesses have the risk of being a victim of a cyber attack on a day-to-day basis.
Cyber attacks do not discriminate against the size of the business they are attacking - everyone with a digital presence can be at risk. Data shows that Australians are reporting cyber crime every 10 minutes.
Without Cyber Insurance, you expose yourself to significant financial losses should your digital situation turn for the worse.
A Cyber Insurance policy is designed to protect your business from a breach of your digital network and the resultant financial loss that could include:
Whether you’re in Caloundra or Rainbow Beach or anywhere in between - whatever the size or location, every business needs a form of cyber insurance protection. Whether you manage a professional services business, an industrial business or a business that’s based purely online, all organisations will have a digital network of some description.
For example, a digital exposure can be as simple as employee records being held on your work computer, or having an online contact form. In the event any personal records are exposed, you are obliged to notify the affected individuals.
One of the biggest digital threats to Australian businesses today are phishing scams that encourage users to click on a link which leads to your digital network being encrypted. The cyber criminal will then demand a ransom for the key to unencrypt your data.
Traditional insurance policies such as Professional Indemnity Insurance and Public Liability Insurance specifically exclude claims that arise from a data breach including ransomware. A comprehensive Cyber Risk Insurance policy protects your business from the financial fallout of a cyber attack on your business.
Cyber Insurance covers your business against the financial losses which can hit your business following a cyber attack.
The types of attack that can be covered include a cyber event such as:
Note that Cyber Insurance does not cover:
To get a quote that provides you with the right cover it's important you speak with a cyber expert who can advise you on the type of Cyber Insurance that is right for you.
The challenge with approaching an insurance provider directly, or by finding a Cyber Insurance policy through an insurance comparison website is that you may ultimately invest in a policy that may not be relevant to your particular needs.
As a Sunshine Coast business insurance brokerage that prioritises ethics over profits, we will work with you to filter through the numerous types of policies in the market to find options that could be most suitable to your situation and budget. We will help you understand insurance jargon and most importantly, help you find solutions that could safeguard your particular type of business against catastrophic cyber losses.
With an office in Sunshine Coast, we have a strong understanding of the local market, yet also come with national and international business insurance experience. So if you’re looking for Sunshine Coast Cyber Insurance, contact us today.
Cyber Insurance Sunshine Coast: get a quote today!