Cyber Crime Insurance
- Compare leading insurers online
- Instant online cover – no paperwork
- Flexible payment options – monthly or annually
Compare quotes from our trusted insurance partners*:
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 ...
read moreDon’t let your business be an online target – what you need to know about Cyber Liability Insurance
... of how easily a breach can happen. Cyber Liability insurance can provide financial protection by covering: ... in cident to: ACCC Scamwatch website to report a crime through their online form https://www.scamwatch.gov.au/ ...
read moreCyber 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 ...
read moreCyber Liability Insurance: the safety net small businesses need
... 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 ...
read moreCyber 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 ...
read moreBusiness Insurance Guide for the Self-Employed – Part 4
... 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 ...
read moreIs 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 ...
read moreHow to stay cyber safe while working remotely
... personal information, cyber-crime, cyber extortion/ransomware and business interruption due to a cyber event. Give your small business an extra layer of protection of security with a Cyber Liability insurance policy. Get ...
read moreWhat is Management Liability Insurance and Who Needs It?
... are also covered. Examples of risks that Cyber Liability insurance helps with include inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware, and business interruption due ...
read moreProtecting your Business from Cyber Risks – Part 2
... . 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 ...
read moreUnderstanding 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 ...
read moreStay Smart Online Week: Q&A with experts on Small Business Cyber Risks
... -cyber-security-guide.pdf https://www.cpomagazine.com/cyber-security/new-data-breach-trends-small-business-identity-records-now-target-1-for-hackers/ Ibid. Ibid. https://www.smartcompany.com.au/finance/fraud/cyber-crime ...
read moreInsurance 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 ...
read moreInsurance 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 ...
read moreUnderstanding 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 ...
read moreWhat are some types of insurance available for small businesses?
... are inadvertent loss or release of customer personal information, cyber crime , cyber extortion/ ransomware and business interruption due to a cyber event. Tax Audit insurance No one likes a call from the taxman, so ...
read moreInsurance 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 ...
read moreInsurance 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 ...
read moreWhat are the Insurance Options for Land Surveyors?
... 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 ...
read moreInsurance for Civil Engineers – what you need to know
... 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 ...
read moreInsurance 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 ...
read moreUnderstanding 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 ...
read moreA Mumpreneurs Guide to Understanding Business Insurance
... a separate policy to your personal home contents insurance. Cyber Liability* Many mumpreneurs have embraced the flexibility of ... an online business. When it comes to cyber-crime, hackers don’t discriminate and can attack ...
read moreSmall Business Insurance: Why you might want to ensure you’re covered!
... . 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 ...
read moreIdentifying and protecting your business from different types of cyber-risks
... more sophisticated, so do the types of crimes and threats crafted by cyber criminals. One way to stay alert and ... up to date Invest in Cyber Liability insurance* Cyber Liability insurance provides your business with an ...
read more4 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 ...
read moreProtecting your business from cyber threats
... best-run systems, it is possible for things to go wrong. In such cases, it is vital to have Cyber Liability insurance to help mitigate any losses that you suffer and to compensate any clients or customers who have their ...
read more5 Reasons to Consider Cyber Liability Insurance for Your Business
... must follow, having a plan for what to do if there is a data breach, and having a Cyber Liability insurance policy to cover claims if required. 3. The cloud isn't completely secure Cloud technology is now essential ...
read moreBizCover commends Australia’s first SME cyber safety certification
... to digital. However, only a modest seven per cent of small business owners hold Cyber Liability Insurance. Cyber Liability insurance typically can include cover for expenses and restoration costs relating to instances of ...
read moreTop 7 cyber security threats to businesses (and protection tips)
... of your small business, it is only half the battle. Having a good cyber security management plan in place that includes comprehensive Cyber Liability insurance can protect your business in the long run. It will allow you ...
read more9 crucial cyber security tips for small businesses in 2023
... ? Could you deal with the media fallout afterwards and the legal costs? 9. Consider Cyber Liability insurance Cyber Liability insurance * is designed to help protect you from claims and support your profitability in the ...
read moreYounger Australians least aware of cyber threats, new research suggests
... clout or time needed to fight cybercrime and may need to consider cyber insurance to bolster their cyber defense plan.” Cyber Liability Insurance * is one such safeguard designed to help protect small business owners ...
read moreHow 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 ...
read moreWhy BizCover's bolstered cyber insurance offering is great news for small businesses
... relying on technology and the internet to conduct their operations, the need for robust cyber insurance policies is greater than ever before. “Cyber insurance is no longer a nice-to-have but rather a must-have for small ...
read moreWhy IT professionals should consider cyber insurance
... . “This can help mitigate the damage to a business' reputation that may result from a cyber-attack.” Cyber insurance policies can also provide IT professionals with access to resources and expertise that can help them ...
read moreDebunking 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 ...
read moreDebunking 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 ...
read moreCould cyber insurance help protect real estate businesses?
... likely need to consider having a financial safeguard in place if things go wrong,” says Mason. Cyber Liability Insurance * is one such safeguard designed to help protect small business owners from claims and support them ...
read moreProtecting your business from cyber risks – part 1
... 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 ...
read moreA Small Business Guide To: Cyber Security Essentials
... program; and BizCover's Head of Product, Channels & Risk Jane Mason, who helps protect businesses with cyber insurance. DATE: 11AM AEST WEDNESDAY, 20 SEPTEMBER, 2023 This 45-minute session will help you: - Proactively ...
read moreSigns your business should be concerned about cybersecurity
... event. BizCover helps small business owners throughout Australia to reduce their exposure to cyber crime through Cyber Liability insurance* made easy. At BizCover our small business customers enjoy our customer-first ...
read more5 steps to performing an effective cybersecurity risk assessment
... or the likelihood of your company being targeted by cyber criminals, cyber crime is a serious threat that can affect businesses of ... be relied upon as advice. As with any insurance, cover will be subject to the terms, ...
read moreWhat Australian businesses can do to avoid data breaches
... for these situations is essential to planning for a cyber attack. A cyber insurance policy could help you in several ways if a data breach occurs. Cyber Liability insurance is designed to protect you and your business ...
read moreThe Other Virus – Making Your Small Business Cybersafe When Working From Home
... associated 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 ...
read more“Prevention may not be enough”: small businesses ill-prepared for cyberattacks
... , which is the first of its kind in Australia,” says Mason. Who might need to consider getting cyber insurance? Although reducing the likelihood of an attack is important, Mason says s ometimes risk prevention is not ...
read moreMortgage 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 ...
read moreWhat makes small businesses a target for cybercrime?
... a cyber-attack or a data breach. How to spot the warning signs of a pending cyber attack Cyber crimes can ... strategy for cyber attacks, which may include business insurance such as Cyber Liability insurance. Remember - ...
read moreWhat 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 ...
read moreScams & 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 ...
read moreIs 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 ...
read moreBizCover expands business insurance offering by partnering with Chubb
... from $487.50, BizCover brought the product on to bolster its offering in the increasingly critical cyber insurance market. The average cost per cybercrime incident has skyrocketed in Australia, reaching $39,000 for small ...
read more7 ways you can protect your business and personal information online today
... 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 ...
read moreSmall 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 ...
read more6 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 ...
read morePreparing for the holidays: Christmas tips for retailers
... loss or release of customers' personal information, cyber crime, cyber extortion/ransomware, and business interruption due to a cyber event. Business Insurance Business Insurance (also referred to as a Business Pack ...
read moreWhat is a business continuity plan? Inclusions, benefits and setup guide
... a drop in profitability. And businesses can’t rely on insurance* alone because it doesn’t cover all the costs and ... supplier, delays in overseas shipping, or due to a cyber attack. Consider using a scale of 1-10 to ...
read moreInsurance 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 ...
read moreInsurance 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 ...
read moreLife after lockdown – How to re-open your small business
... 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 ...
read moreInsurance 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 ...
read moreTop 9 threats to small businesses and how to avoid them
... targeted by cyber criminals. As such, a healthy respect for the risks and potential dangers cyber crime can pose to ... not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and ...
read moreHow to protect your tech company from 5 common startup business risks
... step further by reducing your exposure to cyber risk with proactive cyber security measures such as Cyber Liability insurance (also referred to as tech insurance or start-up insurance). Give BizCover a bell on 1300 920 ...
read moreUnderstanding 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 ...
read moreInsurance 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 ...
read moreInsurance for architects – the blueprint to success
... aimed at SME's., yet is one of the least insured policy areas – don't become a statistic. Cyber Liability insurance provides essential financial protection if your system is hacked or you suffer a data breach by covering ...
read moreDebunking insurance myths – common insurance misconceptions
... or due to malicious damage or some other defined event listed in the policy. 2. “I don't need Cyber Liability insurance, I don't work much online” In the fast paced, technology driven world, you may be surprised at how ...
read moreBusiness 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 ...
read moreInsurance 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 ...
read moreHow 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 ...
read moreManaging 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 ...
read moreWhat risks do consulting businesses 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 ...
read more5 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 ...
read more7 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 ...
read moreThe ultimate guide to business insurance for real estate agents
... action temporarily due to an event such as a fire, would you still be able to earn an income? Cyber Insurance When you are handling and storing client data, the implications for your business if there was a breach or it ...
read moreTop Emerging Careers in Information Technology in Australia 2023
... to security-sensitive government data. This type of crime undermines the public's trust in online interaction ... may want to consider Information Technology Liability (ITL) insurance. A ITL policy can help protect you as a ...
read more5 things to consider when purchasing business insurance
... caused by an insured event (such as fire). Cyber Liability insurance* : Small retail businesses can be an easy target for cyber criminals. Cyber Liability insurance helps to protect you from claims and supports your ...
read moreThe 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 ...
read more9 crucial skills of an accountant to succeed on the Job
... public liability, tax audit, employment practices and statutory liability risks. Cyber Liability insurance Cyber Liability insurance is business insurance that helps protect your business from claims and supports your ...
read moreHow 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 ...
read moreTop tips for buying Management Liability Insurance
... company associated with a tax audit by the ATO, such as accountancy fees. 6. Cyber Liability Insurance: Cyber Liability insurance helps protect your small business from claims and supports your profitability in the event ...
read moreTurn the spotlight on hackers and protect your data
... 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 ...
read moreSpring 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 ...
read moreBusiness 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 ...
read moreBusiness 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 ...
read moreThe Biggest Challenges in Retail Business [2023 Update]
... 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 ...
read moreHow 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 ...
read moreBusiness 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 ...
read moreInsurance 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 ...
read moreInsurance 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 ...
read moreInsurance 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 ...
read moreInsurance 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 ...
read more6 steps for starting a service business
... premises when an insured event occurs (such as fire, storm, theft or even accidental damage). Cyber Liability insurance : Insurance designed to help protect you from claims and support your profitability in the event of ...
read moreSMEs urged to review risk mitigation strategies
... if a third-party claims that your negligent business activities caused them injury or property damage. • Cyber Liability Insurance : Cover that protects a business against both the legal costs and expenses related to ...
read moreRisk management strategies: risk avoidance vs. risk reduction
... your risk mitigation strategy, the consequences of an attack could be catastrophic. This is where Cyber Liability insurance could be an effective risk reduction strategy, as it helps protect you from claims and support ...
read more9 startup marketing strategies that work
... Victoria webpage to compare competitive quotes from leading insurers. Cyber Liability insurance : Cyber Liability insurance is a type of business insurance which protects your business against both the legal costs and ...
read more4 stages of business growth: Where are you now
... Victoria webpage to compare competitive quotes from leading insurers. Cyber Liability insurance: Cyber Liability insurance is a type of business insurance which protects your business against both the legal costs and ...
read moreWhat risks do professional beauty businesses face?
... targets. Last year, the average cost per incident hit a record $39,000 for small businesses. Luckily, Cyber Liability insurance is designed to help protect you from claims and support your profitability in the event of a ...
read morePreparing your store for the holiday season ahead
... 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 ...
read moreTop 7 tips to help improve your business risk management
... reviewing your policy. If you have Building or Contents insurance, remember to review any changes made by any renovations ... step to help protect your business from cyber-attacks and crime. An IT policy is another step which ...
read more5 tips for running a successful 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 ...
read moreReviews related to Cyber Crime Insurance
-
product knowledge and advice are excellent
Frank F
Other -
Easy to read understand and follow
Tui d
Other -
Easy As!! Thank you
Casey W
Entertainment -
EASY CONVENIENT!
HONGWEI Z
Travel -
Excellent Customer Service
Trevor C
Other
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
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?
Built for small business
We know insurance and what makes small businesses tick.
Clear and competitive pricing
You can compare and choose from a range of highly competitive prices right there on your screen. Seriously.
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!
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
Prefer to talk?
Call us and talk to a real person.
Friendly, helpful service from a business insurance professional.
1300 249 268
Mon-Fri 8.30am-7.00pm
Sat 9.00am-5.00pm