Cyber Liability Insurance

... .  Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to ...

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Cyber Insurance: Is it worth it?

... is too small to attract cyber criminals. Yet, when it comes ... to cyber theft, size doesn't matter ... . Businesses are increasingly vulnerable ... as vulnerable to cyber crime, with almost 30% of Australian businesses experiencing a cyber attack of ... want to do is handle a cyber attack or data breach alone. Cyber insurance will also provide coverage for regulatory ...

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Cyber Security For Small Business

... ? What is the Notifiable Data Breaches Scheme? What to do in the event of a cyber attack or data breach What is Cyber Liability Insurance and why do small businesses need it? Download the White Paper Now Did you Know ...

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Cyber Liability Insurance: the safety net small businesses need

It may have taken some time for the reality to hit, but the wider public is now starting to realise that hackers aren't just fictional brooding movie villains - they ... AS A FIREWALL While prevention is the simplest way to minimise the chance of a cyber-attack occurring, Cyber Liability insurance will help to reduce subsequent damage to your business by covering the expenses and legal ...

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Is Your Businesses Target for Cyber Criminals?

... have become a target for cyber criminals, but there are simple ... managing director Michael Gottlieb explains. Cyber crime is one of the fastest ... against fire, flood and theft. The poor take up of cyber insurance in Australia is startling, especially when you consider the fact globally the cost of cyber-crime is estimated to be $388 billion annually, and the ...

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Protecting your Business from Cyber Risks - Part 2

In Part 2 of our cyber risk series, we take a ... from a cyberattack. We also explain what Cyber Liability insurance is and ... security ... . Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber–crime, cyber extortion/ransomware and business interruption due to ...

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Business Insurance Guide for the Self-Employed - Part 4

... piece of our Business Insurance for the self-employed ... Accident and Illness insurance and Cyber Liability insurance. We share the ... covered. Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to ...

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Insurance for Civil Engineers- what you need to know

... about what kinds of business insurance coverage you may need to ... ... covered. Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to ...

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What are the Insurance Options for Land Surveyors?

... yourself and your company with insurance is a smart investment. Land ... ... covered. Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to ...

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Insurance for Finance & Mortgage Brokers

... covered. Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to ...

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Insurance for Massage & Alternative Therapies

... .  Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to ...

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Insurance for IT Professionals

... covered. Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to ...

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Insurance for Consultants

... loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to a cyber event. *As with any insurance, cover will be subject to the terms, conditions ...

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Insurance for Marketing Consultants

... covered. Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to ...

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Small Business Insurance: Why you might want to ensure you're covered!

Running a business can be rewarding, challenging but also stressful. While you will are taking control of your earning potential and the upside can be great, there are ... . Which all resulted in a significant impact in cost, time and disrupted focus occurred. The cyber crime is on the rise, cyber insurance may be required Many small businesses think their business is too small to attract ...

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Stay Smart Online Week: Q&A with experts on Small Business Cyber Risks

This week is Stay Smart Online Week; a government initiative that aims to reverse the threat of cybercrime. Small businesses are some of the biggest growing targets for ... -guide.pdf [3] https://www.cpomagazine.com/cyber-security/new-data-breach-trends-small-business-identity-records-now-target-1-for-hackers/ [4] Ibid. [5] Ibid. [6] https://www.smartcompany.com.au/finance/fraud/cyber-crime ...

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Protecting your Business from Cyber Risks - Part 1

... at the common types of cyber risks that SMEs face and ... with potential scams. Types of cyber risks Cybercrime Spotting [] ... today through BizCover. We offer a range of business insurance options to suit your business needs, including Cyber Liability insurance*. Cyber Liability insurance * is designed to help protect you from claims and ...

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The Other Virus - Making Your Small Business Cybersafe When Working From Home

... small business owners working remotely cyber-crime. Small business owners and staff ... becoming a victim and how Cyber Liability insurance< ... with defending a cyber claim are also covered.  Cyber Liability insurance can assist with inadvertent loss or release of a customer's personal information, cyber-crime, cyber extortion/ransomware and business ...

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Scams & Cybercrime at Tax Time

... the prime time for prowling cyber criminals to attack. This is ... ... Cyber Liability insurance can be a valuable tool in protecting your business. What is Cyber Liability insurance cover? Cyber ... provides an online form to report the crime through https://www.scamwatch.gov.au/report-a ...

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Life after lockdown - How to re-open your small business

After months of being in COVID-19 lockdown, restrictions are beginning to ease and businesses are slowly starting to head back to normality. It will take time and patience ... scams and over $700,000 in losses since the outbreak of the virus. Small businesses are not immune from cyber-crime and Cyber Liability insurance can be a wise choice when it comes to protecting your business online ...

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Insurance for Gift Shops

... for a data breach, something your business can do without. This is where Cyber Liability insurance* can help. Cyber Liability insurance is designed to help protect your gift shop business from claims and support your ...

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Help Protect your small business' reputation

When it comes to running a small business, your brand and its reputation are priceless. No doubt you've spent countless hours establishing your name by building strong ... are aimed at SME's (Dual Australia, 2018). If your business were to be the victim of a cyber attack, Cyber Liability insurance is there to help by providing coverage for expenses and legal costs (which can add up very ...

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Business Horror Stories

... are the victims of a cyber [] ... . In this case, the restaurant was covered and the crime section of their policy covered them. Business Insurance cover options such as Management Liability and Cyber Liability are little known but have the potential to ...

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7 Types of Insurance Your Small Business Should Consider

... is Small Business Insurance. But what kind of insurance do you actually ... ... on your business, not to mention the damage it can cause to your reputation. Cyber Liability Insurance explained. Tax Audit Insurance With an increase in the number of small businesses being subjected to random tax ...

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Insurance for architects- the blueprint to success

The career of an architect is an exciting one, yet it's not one without risk. From the ground up, your responsibilities are skyscraper high. Beginning with the first ... at SME's., yet is one of the least insured policy areas – don't become a statistic.[i] Cyber Liability insurance provides essential financial protection if your system is hacked or you suffer a data breach by covering ...

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5 Surprising Things Business Insurance Can Cover

When looking for Business Insurance, most small business owners typically ... ... And if you store sensitive information about your employees or clients you're an exceptionally prime target. Cyber Liability insurance is a 'must have' policy for all kinds of businesses that have an online presence. And ...

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Insurance for Retailers

... to protect you from claims and supports your profitability in the event of a cyber breach or attack. *As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy ...

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Insurance for Land Surveyors

... * Take the time to consider the client data you are storing and the potential consequences if it were compromised. Cyber Liability insurance could help protect you from claims and support your finances in the event of a ...

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Insurance for Allied Health Professionals

... to protect you from claims and supports your profitability in the event of a cyber breach or attack.  *As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy ...

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Insurance for Accountants

... you hold covered? Do you rely on electronic equipment/or specialist machinery to get your work done? Cyber Insurance* Consider the client data you are storing and if there was a breach of confidentiality by your system ...

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Preparing your store for the holiday season ahead

The holiday season is upon us, which is an important time for retail businesses. It can provide a much needed boost in sales, but on the flip side it can also mean an ... criminals however, are always finding new sophisticated ways to access systems and data. Therefore, a Cyber Liability insurance policy can act as your safety net against data breaches after being hacked or having your ...

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Insurance for Recruitment Consultants

... * Consider the client and candidate data you are storing and the consequences if it were to be compromised. Cyber Liability insurance helps to protect you from claims and supports your profitability in the event of a ...

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Insurance for Psychologists

... the client data or personal information you may be storing and the consequences if it were to be compromised. Cyber Liability insurance helps to protect you from claims and supports your profitability in the event of a ...

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Insurance for Car Wash and Auto Detailers

... responsibilities which can result in personal liability for alleged or actual wrongdoing. Cyber Liability Insurance* Cyber Liability insurance helps to protect you from claims and supports your profitability in the ...

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Insurance for Restaurants

... coverage for the costs of accountants and other nominated professional fees incurred in the course of an audit. Cyber Insurance* As a restaurant owner your exposure could be at the payment desk - with your EFTPOS machine ...

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Five Tips for Starting your Home-based Business

Sometimes it takes extraordinary circumstances to take the leap of faith to start your own home-based business. The COVID-19 pandemic has made this an option for many ... a fire, storm or due to malicious damage or some other defined event listed in the policy. Cyber Liability*: Cyber Liability insurance helps to protect you from claims and supports your profitability in the event of a ...

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7 Ways You Can Protect Your Business and Personal Information Online Today.

Its Privacy Awareness Week, and in recognition of our support weve outline a few ways that individuals and their businesses can keep their important information safe ... all of these things but if it is too overwhelming it's worth considering cyber insurance for your business. Most cyber insurance policies will not only cover your business financially but will help organise the retrieval ...

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The Risky Business of Insurance

What are the Real Costs to Australian Small Business? Small business owners tend to be juggling many balls - managing clients, cash flow, staff, stock and future planning ... from unexpected events or damage. If you have valuable or substantial assets you should insure them Cyber Insurance - Protects your business against the expenses and legal costs associated with data breaches, being ...

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Insurance for Real Estate Agents

... of action temporarily due to an event such as a fire, would you still be able to earn an income? Cyber Insurance* Consider the client data you are storing and the implication on your business if there was a breach of ...

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Home Based Business Insurance

... you had stored was compromised. The impact could be devastating to your business. Cyber liability insurance is a type of business insurance product, which protects your business against both the legal costs and expenses ...

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Insurance for Project Managers

... expertise. But when it comes to organising your business insurance, this is one project you can outsource. We ... it were compromised. Cyber liability insurance is a type of business insurance product which protects your ...

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Insurance for Professionals

... liability, tax audit, employment practices and statutory liability risks. Cyber Liability* Cyber liability insurance is a type of business insurance product which protects your business against both the legal costs ...

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Turn the spotlight on hackers and protect your data

Your business might pride itself on great service or friendly staff, but your success is really built on the trust your customers have in you. After all, when they hand ... team members know how to handle a security breach, the crime will be easier to pin down. It's all about ... for any potential costs. For example, Cyber Liability Insurance covers your business against the expenses associated ...

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The Remaining Risk: What Isn't Covered and Why it Matters

... most common issues with Business Insurance is that policy owners often ... ... 85% of your income (up to $3,000 per week) until you can work again. Cyber Liability Insurance – Cyber Liability Insurance protects against the expenses and legal costs of data breaches or hacking, including the loss or ...

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The Risks of Growing Your Small Business

The only strategy that is guaranteed to fail is not taking risks. Mark Zuckerberg There comes a time when every successful enterprise needs to ditch the baby steps, ... sophisticated, as are the more traditional hacker weapons like phishing scams, DDOS attacks and session hijacking. Cyber Liability insurance may not prevent an attack, but it will help you deal with it and take care of ...

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Doggone Great! Local QLD Business Selected in the $60,000 'Small Business Buddy Program'

Small Business Buddy Winner! Local QLD Business Selected in the $60,000 'Small Business Buddy Program' Woofwatchers, a local dog grooming and pet caring business is ... sized businesses buy Professional Indemnity, Public Liability, Business Insurance, Management Liability and now Cyber Insurance. BizCover provides multiple insurance quotes instantly online and the ability to select and ...

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BizCover Celebrates Third Consecutive Fast 50 Ranking

... . BizCover remains the only commercial insurance business in the list of ... ... sized businesses buy Professional Indemnity, Public Liability, Business Insurance, Management Liability and now Cyber Insurance. BizCover provides multiple insurance quotes instantly online and the ability to select and ...

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Insurance by Industry

... and professionals and that's why our comprehensive insurance offerings include: Professional Indemnity, Public Liability, Business Insurance, Management Liability, Cyber Insurance and Tax Audit. At BizCover, we are aware ...

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Triumph after Tragedy for QLD Fitness Trainer Latest Winner of Bizcover.com.au $60,000 'Small Business Buddy Program'

Latest Winner of Bizcover.com.au $60,000 'Small Business Buddy Program' Michelton resident Charlotte Hansen last week marked a major milestone when she went from cancer ... sized businesses buy Professional Indemnity, Public Liability, Business Insurance, Management Liability and now Cyber Insurance. BizCover provides multiple insurance quotes instantly online and the ability to select and ...

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5 Tips for an Insurance Health Check

If your insurance is due for renewal or ... a health check of your insurance to ensure that if the ... ... personal assets against legal costs for allegations of mismanagement, misconduct or legislative breaches. Cyber Insurance Protection against the expenses and legal costs associated with data breaches, which may occur ...

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Insurance for Nurses

... career or possibly drain your assets. Thankfully, Professional Indemnity insurance is there to give you peace of mind if ... be created in the course of your work. Cyber Liability* If you collect and store information about ...

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Insurance for Restaurants & Cafes

... enough to keep you busy day and night. Take the stress out of an ATO investigation with this insurance. Cyber Insurance As a restaurant owner your exposure could be at the payment desk - with your eftpos machine hacked ...

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Insurance for Registered Migration Agents

... premises, or you damage your client's property. Business Insurance* Your clients are important, but so are your ... it is of action due to an insurable event. Cyber Liability* Consider the client data you are storing and ...

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Finding the Right Business Insurance Can Be Hard but BizCover Makes it Easy

... and your assets with business insurance. However, figuring out exactly what ... 's why a group of insurance industry [] ... of the more common types of cover include public liability, professional indemnity, cyber liability, business interruption and tax audit insurance. In many cases, businesses will need to mix and match different types ...

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5 Questions to ask yourself before buying Insurance for your Small Business

Know you need business insurance but aren't sure how ... while and looking to buy insurance for the first time; there ... ... accidental damage, as well as financial loss for business interruption due to an insured event Cyber Liability insurance protects businesses against the costs associated with data breaches, being hacked or the theft of ...

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Bizcover and National Retail Association

... business and your livelihood. Having the right insurance is critical to protecting your business. After all ... with cover for Personal Accident and Illness, Cyber Liability and Tax Audit. Your Exclusive Discount National ...

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Management Liability Insurance

... coverCould this happen to you? What is Management Liability Insurance?* Everyone loves a surprise, except when you are a ... claims alleging unfair dismissal or discrimination. Crime – covers you against direct financial ...

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Common Small Business Insurance Claims and How to Prevent them.

... . Whilst you've got the insurance to help you out, you ... ... business and your bottom line. Whilst you've got the insurance to help you out, you'd ultimately rather avoid the ... valuables. Lastly, if you are in a high crime area, consider using a private security service. Storm ...

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BizInsure Capitalizes on the Paradigm Shift in Commercial Insurance!

... .com), a leading-edge online insurance model that connects independent professionals ... critical Professional Liability (E&O) insurance solutions ... revenues under 2.5 million dollars) have not had many alternatives when it came to buying business insurance. BizInsure has entered this space to satisfy the needs of this important and growing market; small business ...

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How Does Professional Indemnity Insurance Benefit You?

... advisable that you have professional insurance, which can also be referred ... to as professional indemnity insurance. Professionals are expected ... , which can be filed against them by their clients. It is advisable that you have general business insurance in order to protect you from financial losses caused by property damage or bodily injury. In addition to ...

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A Guide to PI Insurance

... to make Professional Indemnity Insurance simple (also known as ... errors and omissions insurance, PI or Professional Indemnity ... is Professional ... 't know if they are getting the best deal. This is where BizCover steps in to satisfy your Professional Indemnity Insurance needs. BizCover allows you to get live online quotes in under 2 minutes, and purchase in only a ...

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Legal Requirement for Public Liability Insurance

Public liability insurance covers your business for losses ... . Failure in obtaining public liability insurance policy can expose a business ... ... or damage to a third party as a result of your business' activities. Failure in obtaining public liability insurance policy can expose a business to a range of risks. As a business, you will inevitably have interactions ...

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Insurance for Disability Workers

... or Public Liability claim against you. We know, sometimes you just want a quick idea of how much your insurance is actually going to cost.  However, it's important to note that the data included within this article ...

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What Tradies Need to Know About Public Liability Insurance

... the most common types of insurances for tradies, but do you ... and outs of Public Liability insurance and what you need to ... . So what is Public ... t quite go plan. As a tradie, it can even be a contractual requirement that you have Public Liability insurance in place well before picking up the tools and putting boots on site. Always check the level of cover that ...

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Business Insurance Guide for the Self-Employed - Part 3

... in the world of business insurance, it can feel like you ... guide on all things Business Insurance for the self-employed. In ... back to basics ... a call from the Australian Tax Office (ATO) requesting an audit is enough to make you panic. Tax Audit Insurance covers a business for specified costs if the ATO selects it for auditing. The policy covers the costs of ...

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Business Insurance Guide for the Self-Employed - Part 2

Navigating the world of business insurance can be confusing which is ... created a guide to business insurance for the self-employed that ... and outs ... which is why we've made it our mission to make it a bit easier. We've created a guide to business insurance for the self-employed that profiles the main types of cover to consider and how it can protect you for the long ...

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Business Insurance Guide for the Self-Employed - Part 1

... are a variety of business insurance [] ... your business, even if it is a home-based operation. Market stall-holders– A minimum level of Public Liability insurance is often required when having a stall at a market. If you are selling products you have made at ...

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Insurance for Furniture Manufacturers

... wrong. This is where business insurance comes into play and should ... . The process of arranging your insurance can feel overwhelming at times . ... up and running, so without your business assets, how are you going to earn an income? Having suitable business insurance in place can help safeguard your business for when things don't go to plan and for when you need ...

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BizCover SME Insurance Price Index Q1 FY20

... reductions on their Public Liability insurance, while prices have remained steady ... ... its highest in five years and transport costs increasing steadily. The increase did not affect the cost of insurance for small businesses on the BizCover platform as prices dropped to the lowest point in 24 months. The ...

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Public Liability Insurance for Cabinet Makers

... the right kind of business insurances in place. Regardless [] ... ... a contract or as a condition of entry to a worksite. If so, make sure you have your Public Liability insurance policy sorted before you pick up the tools and that you have the right level of cover required. What can ...

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iSelect partners with BizCover to launch business insurance comparison

... expanded their general insurance offering to include business insurance, through a partnership ... , Australia's leading small business insurance ... to medium (SME) business owners a full end-to-end online service to compare most of their business insurance needs, with policies available from some of Australia's leading insurers. SME customers will have the option of ...

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Dishing up the facts on food business insurance

... you have the right business insurance. When it comes to insuring ... ... it can feel like there is an overwhelming choice of policies and policy options to choose from. Why do I need insurance for my food business? Whether you are serving up fancy dishes in a restaurant, coffees in a café or ...

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Keep calm and stretch on with Yoga Teacher insurance

... of arranging your yoga teacher insurance go. As a yogi or ... business. Let us centre your insurance chakra by exploring some of ... Breathe in, breathe out, and let a wave of calm wash over, letting the stress of arranging your yoga teacher insurance go. As a yogi or yogini, you don't have time to be worrying about having the right cover in place to ...

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BizCover SME Insurance Price Index Q1 FY21

... clients buck the trend of insurance price hikes. Whilst the Australian ... the availability and pricing of insurance for SMEs, BizCover can report ... , there were some clear winners and some losers. The Full Report can be viewed here: SME Insurance Price Index Public Liability insurance is an essential cover for SME's and one that most can't afford to operate without ...

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Small Business Insurance Price Index Q3

Insurers hold on to SME Insurance Premium Price Increases! Despite a ... BizCover Small Business Insurance Price Index has shown insurance rates ... Director of BizCover commented “While there is still an abundance of capacity and fierce competition in the insurance market, insurers have managed to hold onto their rate increases from last quarter. I suspect given the ...

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Things you didn't know about small business insurance

Getting the insurance sorted for your small business ... , compare quotes and buy the insurance that suits your business. But ... not know about small ... to review and update your coverage every year. No doubt your business is on the move and changing and so your insurance needs will also be changing and you'll want to make sure you have a policy that covers your business ...

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Insurance for pharmacy and pharmacists

... to customers about managing their health and wellbeing. That's why it is important to ensure you have the right insurances in place to protect your business when things take an unexpected turn for the worst. Our ...

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STABLE INSURANCE RATES A REASSURANCE FOR SMEs

BizCover's SME Insurance Price Index has unveiled a ... the COVID-19 pandemic with insurance rates remaining flat for a ... acquired from BizCover's ... year and fell a further seven per cent this quarter,” he said. “Key sections of business pack insurance that are frequently used by retailers such Contents, Glass and Theft all showed noticeable price declines. “The ...

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BizCover SME Insurance Price Index Q2 FY20

More larger businesses with simple insurance needs are using BizCover for ... their insurance, while smaller businesses benefit from ... this quarter ... decline that began 12 months ago. The increase can be attributed to more demand for Business Contents insurance particularly from businesses with an annual turnover greater than $400,000. Cover for contents in the Trades ...

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Professional Indemnity Insurance for Civil Engineers

... a professional, considering Professional Indemnity insurance to protect* you and your ... ... Policies for Civil Engineers When it comes to insuring civil engineers, there's no one size fits all insurance solution because every business is different and no two businesses are the same. Each business has its own ...

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Small Business Insurance Index

... price increases in the business insurance market, SMEs are continuing to ... the cost of business insurance, the BizCover SME Insurance Price ... Retail & Hospitality. Whilst all three groups saw have seen no increases in the overall prices for their insurance, there have been changes within product groups and industries. The Full Report can be viewed here. Trades ...

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A guide to Plasterer's insurance that won't leave you, board

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How the cost of Professional Indemnity insurance is calculated

... of a Professional Indemnity (PI) insurance policy is calculated and why ... the cost of Professional Indemnity insurance. Insurance policy pricing ... than another? We look some of the key factors that that impact the cost of Professional Indemnity insurance. Insurance policy pricing is generally calculated on risk factors and put simply, the higher the level of risks ...

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5 Things to Consider When Buying Public Liability Insurance

Public Liability insurance. It's one of those ... ... of cover. Understanding the nitty-gritty can save you in the long run, so don't be afraid to ask your insurance agent what certain features and benefits are if you are unsure. At BizCover we want to make getting your ...

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Tax Audit Insurance

... services of an external accountant or similar professional and their fees can be substantial. With the right Tax Audit insurance in place, you can at least minimise the cost of an audit to your business, even if you can ...

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Insurance Premiums for Retailers Continue to Climb

Insurance Premiums for Retailers Continue to ... The latest BizCover Small Business Insurance Price Index has been released ... an increase in small ... 1), and similar to quarter 2 of last financial year, the index is showing an increase in small business insurance rates, with the index rising 3 points over last quarter. This increase however is not universal. Graph 1 ...

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Small Business Insurance Index Q2: 5 point increase, largest in 10 quarters

The Quarterly BizCover Small Business Insurance Index has shown that Australian ... enjoyed the end of declining insurance premiums with an increase of ... increase of 5 points in the second quarter of FY2015/2016, the first increase seen in 10 quarters. This brings the insurance rates back to the same level as Q4 2013/14 (6 quarters ago). It should be noted that rates are ...

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What Limit of Professional Indemnity Insurance Do I Need?

... 'What limit of Professional Indemnity insurance do I need?' While this ... ... a good idea to contact the association and check whether there is a minimum limit of Professional Indemnity Insurance you are required to maintain to comply with their compliance requirements. They may also be able to ...

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Misconceptions Around Professional Indemnity Insurance

... that the claims professional indemnity insurance covers are only the experiences ... ... to time depending on the size of a job contract or the level of risk involved. Businesses or consultants whose insurance coverage is not sufficient may need to draw funds from their own pockets and that is never a good ...

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Additional Cover for Professional Indemnity Insurance

... Fernando for his certificates of insurance - it's just part ... ... claiming a product caused them a personal injury or property damage, it is vulnerable to costly legal action. PI Insurance protects small businesses from this type of action. Unlike Hish, Lynn's clients don't ask to see ...

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Social Media Insurance

... , try to make a sale out of a day of grieving, or trying to jump on a politically charged bandwagon. The insurance will cover your costs of PR to rebuild your brand, costs of loss of sales and other costs in the case of ...

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Insurance for Nurses

... Even if you are covered under your employer's insurance policy there is no guarantee that you will be ... one claim or a series of claims during the period of insurance add up to and exhaust the specified Limit of Indemnity, ...

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Business Interruption Insurance: Your 'Get Out of Jail Free' Card

... 'lock up' operations. Business interruption insurance can provide both peace of ... ... of business is affected, you'll need to ask yourself two very important questions. Do I have Business Interruption insurance? And, are both the property and the cause of the event included in the coverage? If the answer ...

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Insurance for Bakers

... damage a third-party's property or if your baking tools were to be stolen. This is where business insurance comes into play and provides the peace of mind you need with cover that can protect your bakery business ...

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What is Cyber Liability Insurance

Hackers. These are not just dodgy movie characters but real life people, doing real damage to businesses across the globe, including Australia. If you’re thinking your small business down under is of no interest to these criminals, think again. Every business with an online presence is at risk of a cyber attack and with cyber crime claiming  6 million victims in 2018it might be time to bite the bullet and get the right cover for your business.i 

Cyber Liability insurance* is designed to help protect you from claims and support your profitability in the event of a cyber breach or attack. Costs associated with defending a cyber claim are also covered.  Examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to a cyber event. 

In a nutshell, your customer data is sacred. If you don’t protect it properly, your business may be fed to the wolves. 

If you’re still not convinced your business may be at risk, here are the cold hard facts about doing business in today’s technically advanced world: 



Independent feedback from our customers rated our service at excellent.

What is included?

  • Business interruption costs 
  • Investigation and data recovery costs 
  • Fines and penalties 
  • Extortion costs 
  • PR and crisis management costs 

What is typically NOT covered?

  • Replacement equipment 
  • Property damage 
  • Prior known facts / circumstances (before the policy commenced)  
  • Intentional acts 

Download Cyber Liability Insurance Fact Sheet

Get the cover that is right for you

With the policies available through BizCover you can choose coverage amounts between $50,000 to $2 million 

Sit back for a minute and think about this….it might be the first time you have considered the impact on your business if your website was taken offline?  Could your business survive the reputation damage, and the losses associated with a data breach 

You should consider what your business requires including by reference to 

Who benefits from this type of Insurance:

*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.  The information contained on this web page is general only and should not be relied upon as advice. 

 

Could this happen to you?

Hackers are alive and well and get a thrill out of making business owners sweat. Cyber Liability Insurance can reduce your risks and help you rest easy knowing your business is covered from even the craftiest of criminals. 

Here are is an example: 

The cost of lost data

An insured accountant had an employee who accidentally misplaced a company laptop that contained a list of 1000 client tax records and credit card details. A policy payment totalling $250,000 was made to cover the costs involved with notifying the affected individuals and the Privacy Commisioner of the data breach. The cost of hiring a Public Relations firm to assist the insured with re-building their business reputation was also included.iii 

 


[i] Australian Cyber Security Centre, 2019, https://www.cyber.gov.au/news/sso-launch
[ii] Australian Criminal Intelligence Commision, Cybercrime, 2019, https://www.acic.gov.au/about-crime/organised-crime-groups/cybercrime
[iii] Dual Australia, Cyber Claims Examples, Accessed 2019

 

Cyber Security For Small Businesses

With more and more cyber criminals targeting SMEs, how can small businesses protect themselves?

*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice

Cyber Liability Insurance Infographic