... 't become a statistic. Stay cyber savvy by understanding the impact ... ... in Australia: Believe it or not but cyber-crime costs Australian businesses $4.5 billion annually ... of how easily a breach can happen. Cyber Liability insurance can provide financial protection by covering: Forensic ...
read more... . 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 more... 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 ...
read more... ? 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 ...
read moreIt 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 ...
read more... 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 ...
read moreIn 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 ...
read more... 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 ...
read more... 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 ...
read more... 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 ...
read more... 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 more... . 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 more... 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 more... 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 ...
read more... 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 moreRunning 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 ...
read moreThis 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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read moreAfter 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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read moreWhen 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 ...
read more... 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 ...
read more... * 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 ...
read more... 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 ...
read more... 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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read more... * 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 ...
read more... 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 more... 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 more... 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 moreSometimes 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 ...
read moreIts 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 ...
read moreWhat 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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read more... 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 ...
read moreThe 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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read more... . 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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read more... 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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read more... 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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read more... 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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read more... 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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read more... 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 ...
read moreInsurers 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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read more... your customers with Public Liability insurance. It offers protection should a ... ... and the policy features. There are many options for small business owners when it comes to shopping and choosing insurance policies. Gone are the days of having to ring around and wait for days for the brokers to get ...
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read moreBizCover'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 ...
read moreMore 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 ...
read more... 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 ...
read more... 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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read more... 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 ...
read moreInsurance 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 ...
read moreThe 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 ...
read more... '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 ...
read more... 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 ...
read moreThe BizCover Small Business Insurance Price Index is indicating ... market for small business insurance continues to benefit from ... stability in insurances prices have increased. A trend driven by continued competition, as well as capacity in the market. This has ...
read more... 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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read more... 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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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.
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:
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
With more and more cyber criminals targeting SMEs, how can small businesses protect themselves?
