Cyber Crime Insurance

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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?

... 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

... themselves? 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? Did you Know? The average cost of a ...

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Is your businesses target for cyber criminals?

... 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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Understanding Insurance for Retailers

... can provide valuable protection for your retail business from cyber crime attacks. Cyber liability insurance is a type of business insurance product, which protects your business against both the legal costs and ...

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Insurance for Management Consultants

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

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Insurance for Consultants

... .  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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Understanding business insurance for bookkeepers

... 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

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Insurance for Massage & Alternative Therapies

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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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Understanding Insurance for Mortgage Brokers

... .  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 Savings

... liability, employment practices liability, crime, statutory liability and tax audit. MADE FOR OH&S dramas Unfair dismissal claims Statutory fines & penalties Cyber Liability Insurance Covers losses from claims arising ...

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How to stay cyber safe while working remotely

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Protecting your business from cyber threats

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4 essential tips for buying cyber insurance

... 're covered only to discover you are not when you make a claim. 4. Take steps to reduce risk Cyber Liability insurance can help your business get back to work after an attack but avoiding them in the first place is even ...

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How small business owners can assess cyber risk

... prevention is not enough, and businesses need a financial safeguard in place for when things go wrong. “Cyber Liability insurance can be seen as an additional control as it is designed to protect your business from the ...

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Debunking Cyber Security Myths for SMEs, Part 1

... access. This could translate to thousands in lost revenue while your system remains locked. The bottom line: Cyber Liability insurance can be a powerful tool to help SMEs like yours get back to business as usual as ...

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Debunking Cyber Security Myths for SMEs, Part 2

... of your business. So rather than getting caught off-guard when the unexpected strikes, consider Cyber Liability Insurance for your peace of mind. Get instant quotes with BizCover today, and safeguard your small business ...

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Claim for Cyber Liability

... online claims forms Need help? Call 1300-249-268 Compare quotes from our trusted insurance partners: Cyber Liability Cyber incidents can be time sensitive. Your insurer will have emergency response resources available to ...

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Mortgage brokers easy marks for cybercrime

... or the belief that it only happens to the big guys, there are many reasons why a brokerage may not purchase cyber insurance,” says Gottlieb. “But what needs to be considered is that brokers will be left to deal with the ...

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Scams & Cybercrime at Tax Time

... 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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What can businesses do after a data breach?

... reduce the severity of the financial and reputational damage of a cyber attack. Cyber liability insurance is a type of business insurance which protects your business against both the legal costs and expenses related ...

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Is your salon ready for a cyberattack?

... and the insurer paid $30,000 to cover the salon's financial loss. A cyberattack might be dramatic, but Cyber Liability insurance can help you manage the impact one has on your salon. BizCover has helped over 8,500 salon ...

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Small businesses at risk as cybercrime ramps up

... right safeguards in place. But imagine how the story might've ended if they hadn't sorted out their Cyber Liability insurance ? Don't wait any longer. While there are many perks to being your own boss, protecting your ...

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6 ways to become a paperless business

... .  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 Land Surveyors

... it is located. You can pick and choose the cover options that suit your business needs best. Cyber Liability Insurance* Take the time to consider the client data you are storing and the potential consequences if it were ...

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Insurance for Retailers

... to your business caused by an insured event (such as fire). Cyber Liability* Small retail businesses are an easy target for cyber criminals. Cyber Liability insurance helps to protect you from claims and supports your ...

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Insurance for Allied Health Professionals

... information about your clients, whether its details about their personal health or billing information. Cyber Liability insurance helps to protect you from claims and supports your profitability in the event of a ...

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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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Tech Startups Insurance

... . This includes defence costs cover. Cyber Liability Covers losses from claims arising ... result of a covered event will also be covered. Tax Audit Insurance If your accounts are audited by the Australian Tax Office, you ...

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Business Horror Stories

... . 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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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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How to protect your small business reputation

... 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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Important Information for RelyOn Policy Holders

... Issued before 1 April 2024) RelyOn Business Insurance Wording (Policies Issued from 1 April 2024) GENERAL EXCLUSIONS THAT APPLY TO EVERY SECTION OF THE POLICY Cyber Exclusion (Amended) Cover for physical damage removed ...

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7 ways to protect your small business

... threats and data breaches are ever-present. BizCover makes it easy to find the right Cyber Liability insurance for your business, ensuring your digital space remains secure and resilient in the face of digital challenges ...

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Managing Risk and Liability as a Sole Trader

... It is available as an additional cover option when you buy a Business Insurance Pack . Cyber liability insurance* Cyber liability insurance * helps protect sole traders from claims and support their profitability in the ...

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5 common risks consulting firms face

... , the risk of a cybercrime incident affecting a consulting business is high. Cyber Liability insurance is a type of business insurance which protects your business against both the legal costs and expenses related to ...

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5 Surprising Things Business Insurance Can Cover

... 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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7 Common Types of Small Business Insurance

... business, not to mention the damage it can cause to your reputation. Related: Cyber Liability Insurance explained 7. Tax Audit Insurance With an increase in the number of small businesses being subjected to random tax ...

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Your holiday business closure checklist: 8 tips

... if they will be checking their work emails remotely during the Christmas shutdown period; and Investing in Cyber Liability insurance . 5. Get ready for the new year Before closing down for the Christmas holiday break ...

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The risky business of insurance

... 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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Business Insurance

... . If your systems were attacked, the impact could be destructive to your business. Cyber Liability insurance covers losses from claims arising from data breaches, business interruption and remediation costs following an ...

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How to become an accountant in Australia

... public liability, tax audit, employment practices and statutory liability risks. Cyber Liability insurance Cyber Liability insuranc e is business insurance that helps protect your business from claims and supports your ...

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Spring Clean Your Salon’s Business Insurance

... , cover is available for public liability, tax audit, employment practices and statutory liability risks. Cyber Liability Insurance Cyberattacks are a bigger problem for salons than you might realise. Are you storing ...

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Business Insurance Perth

... for your physical assets – Financial loss due to Business Interruption Related: Business Insurance Cyber Liability insurance Business interruption costs Investigation and data recovery costs Fines and penalties Extortion ...

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Business Insurance Melbourne

... data recovery costs Fines and penalties Extortion costs PR and crisis management costs Related: Cyber Liability Insurance Who needs business insurance in Victoria? The short answer is if you're running a small business ...

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7 key challenges in retail business

... and firewalls are all to up to date and in place. If a data breach does occur, Cyber Liability insurance * may be able to provide financial protection against the consequences of the loss. The related expenses might ...

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How to start your own business from home

... in 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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Business Insurance in Townsville

... with negligence claims, missed deadlines, and other types of professional wrongdoing. Cyber Liability* Cyber Liability insurance covers losses from claims arising from data breaches, business interruption and remediation ...

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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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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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Insurance for Recruitment Consultants

... 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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What is Cyber Liability Insurance?

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.

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 an attack occurring every 8 minutes now might be time to bite the bullet and get the right cover for your business.i

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:

  • Cyber crime costs Australian businesses $1 billion annually – yet it remains one of the least insured policy areas.ii
  • Unisys Security Index – Australia, 2019 revealed that 15% of Australians would stop dealing with an organisation if their data was breached.
  • In 2021 63% of organisations suffered a Cyber security  breach! iii



Independent feedback from our customers rated our service at excellent.

What does Cyber Liability insurance typically cover?

Cyber liability insurance is a type of business insurance which protects your business against both the legal costs and expenses related to cybercrime incidents. Your coverage may generally include cover for expenses and restoration costs relating to the following:

  • Data breaches including theft or loss of client information
  • Network security breaches
  • Business interruption costs
  • Forensic investigation into the cause or scope of a breach
  • Data recovery costs
  • Cyber extortion
  • Crisis management costs (to protect or mitigate damage to your businesses reputation resulting from a cyber event)
  • Loss and legal costs, including fines and penalties resulting from a third party claim for data or network security breach against your company

What is typically NOT covered?

  • Bodily injury and property damage
  • Prior known facts or circumstances Intentional or fraudulent acts
  • Damage to computer hardware
  • Upgrading of an application, system or network
  • Failure or outage of power, utilities, satellites or telecommunication services

Download Cyber Liability Insurance Fact Sheet

Cyber Insurance fact sheet - updated July, 2023

Get the cover that is right for you

With the policies available through BizCover you can choose coverage amounts between $250,000 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?

Just consider the following:

  • The effect to your business if a hacker blocked access to all your files and demanded a hefty ransom for release?
  • Could you sustain a complete interruption to your business operations due to a cyber attack?
  • Is it possible that you or your staff could fall victim to a fraudulent email releasing personal information or directing funds?
  • The effect of a data breach to your business?
  • The amount and personal nature of customer data you store and the security arrangements in place to protect that data

Who benefits from this type of Insurance:

  • Any business that trades via a website or online platform
  • Any business that uses email
  • Any business that deals with customer data
  • Retailers who use EFTPOS machines
  • Companies reliant on IT systems to conduct business
  • Example occupations:  Accountants, Consultants, Estate Agents, Retailers, Hospitality outlets, Manufacturers etc
*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy document.  The information contained on this webpage is general only and should not be relied upon as advice.

Why choose BizCover for your Cyber Liability insurance?

BizCover - Built for Small Businesses

Built for small business

We know insurance and what makes small businesses tick.

BizCover - Clear and Competitive Pricing

Clear and competitive pricing

You can compare and choose from a range of highly competitive prices right there on your screen.  Seriously.

BizCover - match your needs

Cover to match your needs

You can tailor policies from selected Australian insurers to suit the needs of your business, and we are there to help!

BizCover - Real People

Real people adding real value

Our friendly service team is on hand and on a mission to make you smile!

Could this happen to you?

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

Here are some 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.[iv]

An expensive call

An insured hairdresser used a VoIP telephone system, which was hacked and over a month the hacker made multiple unauthorised calls to a premium number over the course of a month, which came to a total of $30,000 on their telephone bill.   The Insured made a claim on their Cyber policy which triggered the optional Social Engineering cover and they received $30,000 for their financial loss. [v]

Cyber Security For Small Businesses

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

Frequently Asked Questions (FAQs)

Cyber Liability insurance may be important part of protecting your business if you:

  • Hold records of a sensitive nature for customers, suppliers or employees that when used alone or in conjunction with other data could be used to identify an individual, this is known as Personally Identifiable Information (PII)
  • Host, store, share or transmit confidential data including credit card information.
  • Have high profiles in their chosen field or hold records of high-profile people- this increases the probability of cyber extortion
  • Has any digital marketing or online presence including a website and social media
  • Publish electronic content
  • Your business experiences a data breach, as well as loss of revenue due to business downtime.
  • You could be fined for a data breach from the privacy commissioner.
  • Your business’ website gets hacked – inappropriate content could be posted on their website, or the website is frozen.
  • Cyber extortion – hacker asks for a ransom.
  • Hacker sells personal information that your business holds a record of.
  • Information stolen from your business that is used to create false identities.
  • Hardware (Laptop/smart phone) containing sensitive client information is stolen or lost.
  • Credit card information is stolen, or
  • Point of sale system goes down and your business is not able to take electronic payments

[i] Australian Cyber Security Centre, September 2021, ACSC Annual Cyber Threat Report, July 2020 to June 2021, https://www.cyber.gov.au/acsc/view-all-content/reports-and-statistics/acsc-annual-cyber-threat-report-july-2020-june-2021
[ii]Australian Criminal Intelligence Commision, Cybercrime, 2019, https://www.acic.gov.au/about-crime/organised-crime-groups/cybercrime
[iii] Digital Nation, 29 April 2022, https://www.digitalnationaus.com.au – “63-percent-of-organisations-suffered-a-cybersecurity-breach-in-2021.”
[iv] Dual Australia, Cyber Claims Examples, Accessed 2019
[v] Dual Australia, Cyber Claims Examples, Accessed 2022

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