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 ... increasingly vulnerable to cyber-attacks. Consider some of the most high profile cyber attacks in recent ... is handle a cyber attack or data breach alone. Cyber insurance will also provide coverage for regulatory defence ...

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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 ... The SME sector is bearing the brunt of cyber-attacks because of the lack of strong security systems and ... way to minimise the chance of a cyber-attack occurring, Cyber Liability insurance will help to reduce subsequent ...

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

One of the most common issues with Business Insurance is that policy owners often fail to understand what it does protect you against, and the risks that still remain ... Cover The first step to knowing what your coverage includes is to understand its purpose. This ... until you can work again. Cyber Liability Insurance – Cyber Liability Insurance protects against the expenses 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 can ... protected? 2. Q) I f I don't have Cyber Liability insurance, is it too late to get a policy for my ... the required cyber security measures in place. Some of the conditions of your coverage to look ...

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Insurance for Civil Engineers- what you need to know

... what kinds of business insurance coverage you may need to help ... ... it's important to think about what kinds of business insurance coverage you may need to help ensure it is protected. As ... you may want to consider Cyber Liability insurance. A Cyber Liability insurance policy is designed* ...

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What are some types of insurance available for small businesses?

... . There are many kinds of coverages on the market and it ... bit overwhelming when deciding which coverages to select. There isn't ... ... of coverages on the market and it can feel a bit overwhelming when deciding which coverages to ... cyber-criminals, you may want to add in Cyber Liability insurance as an extra layer of security. Cyber Liability ...

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5 Surprising Things Business Insurance Can Cover

... things such as their legal liabilities and top of mind assets ... ... Machinery Breakdown insurance is an important form of coverage for businesses who rely on machinery or equipment ... clients you're an exceptionally prime target. Cyber Liability insurance is a 'must have' policy for ...

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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 ... compensate the suing party, it also offers coverage for public relations expenses to help prevent ... be the victim of a cyber attack, Cyber Liability insurance is there to help by providing coverage for expenses and legal ...

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A Mumpreneurs Guide to Understanding Business Insurance

The art of juggling parenthood while running your own business is anything but an easy feat. Theres always something screaming for your attention, from managing client ... . Protecting your business with the right kind of coverages is a crucial part of staying in business for ... to your personal home contents insurance. Cyber Liability* Many mumpreneurs have embraced the flexibility ...

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Understanding Insurance for Retailers

From helping your customers to find their perfect purchase, managing stock, and taking care of your staff, the world of retail is one of countless moving parts. With ... Cyber liability insurance is a type of business insurance product, which protects your business against both the legal costs and expenses (including compensation payments) related to cybercrime incidents. Your coverage ...

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7 Types of Insurance Your Small Business Should Consider

If you own a small business, there's no denying one the most important things you need to protect your assets is Small Business Insurance. But what kind of insurance ... as a package encompassing a range of different coverage options for you to choose from, with ... holding a Cyber Liability policy. Cyber Liability Insurance protects your business in the event of a cyber attack. Whether ...

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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 ... access systems and data. Therefore, a Cyber Liability insurance policy can act as your safety ... business, which includes having sufficient Business Insurance coverage to provide financial protection. Depending on the ...

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

Getting a quote can be done online and only takes a few minutes. If you run a business, it is absolutely essential that you look to see how you can protect yourself ... cyber liability, business interruption and tax audit insurance . In many cases, businesses will need to mix and match different types of coverage ... want to waste money on coverage you don't need.  In ...

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7 Things Accountants Needs to Consider When Applying For Professional Indemnity Insurance

Buying any insurance, can be a confusing and time consuming process. And when it comes to getting your Professional Indemnity Insurance, it can be even more so. Here ... price rise between $1 million and $2 million coverage is minimal. The things you will need to examine ... risk to your business and may need to consider a cyber liability policy. It's important to look at the whole scope ...

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Who is Covered Under an IT Liability Policy?

... information technology sector face potential liabilities from clients and third parties ... ... covered claims. What about Products and Public Liability? As part of the coverage under IT Liability policies, many insurers also provide products and public liability for claims arising out of the products the ...

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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 ... ... to look like, but authorities say organised-crime cyber gangs are getting harder to identify and more ... mechanic in Alice Springs were two recent victims of cyber crime. Given the majority of organisations don't even ...

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Protecting your Business from Cyber Risks - Part 2

In Part 2 of our cyber risk series, we take a ... . We also explain what Cyber Liability insurance is and why you ... security plan. Tips to stay cyber – attack. We also explain what Cyber Liability insurance is and why you should ... do, who to contact and how to recover from a cyber – attack if it were to occur. Some of the ...

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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 more information: o https://www.cyber.gov.au/sites/default/files/2019-03/msp_questionnaire.pdf o https://www.cyber.gov.au/publications/questions-to-ask-managed-service-providers · Understand and manage your ...

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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 [] ... like to learn more on how to spot a cyber scam, Scam Watch has a list of educational ... your business needs, including Cyber Liability insurance * . Cyber Liability insurance *   is designed ...

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Scams & Cybercrime at Tax Time

... the prime time for prowling cyber criminals to attack. This is ... ... gain access to personal information. So how do you get cyber-savvy and spot a scam? Spotting a scam Tax time, more ... business. What is Cyber Liability insurance cover? Cyber Liability is designed to cover ...

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Business Insurance Guide for the Self-Employed - Part 4

... Accident and Illness insurance and Cyber Liability insurance. We share the ins ... ... look at Personal Accident and Illness insurance and Cyber Liability insurance. We share the ins and outs of ... lost income. Cyber Liability What is Cyber Liability insurance? Cyber Liability insurance* is designed ...

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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 ... has been damaging small businesses is cyber-crime . Scamwatch has report ed over ... virus. Small businesses are not immune from cyber-crime and Cyber Liability insurance ca n be a wise choice ...

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What are the Insurance Options for Land Surveyors?

Land surveyors have multiple responsibilities on their shoulders. While they work exceptionally hard, mistakes can occur and have the potential to lead to legal action ... surveying projects your business uses. Public Liability Public Liability insurance is designed to provide protection for ... when out in the field. Cyber Liability Since land surveyors typically maintain ...

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Understanding Insurance for Mortgage Brokers

The world of mortgage broking is all about finding the most suitable financial products to help your clients on their housing journey, one which involves experience ... property for a claim to be made. Public Liability insurance is  designed to provide protection for you  ... for public liability, tax audit, employment practices and statutory liability risks. Cyber L ...

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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 ... of action due to an insurable event. Cyber Liability There's a reason why you're in ... – don't become a statistic. [i] Cyber Liability insurance provides essential financial protection if your system is ...

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Understanding Insurance for Real Estate Agents

Being a real estate agent is an exciting and ever-changing career. You're there to help your clients find and sell their properties, a job that certainly doesn't come ... you still be able to earn an income?  Cyber Insurance * When you are handling and storing ... Get peace of mind with Cyber Liability insurance . Cyber Liability insurance is designed to help ...

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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 ... personal assets are also on the line. Having a Management Liability policy in place can cover you not only for your legal ... fact almost 70% of Australian businesses experienced a cyber attack of some form in the last 12 ...

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Business Horror Stories

... are the victims of a cyber [] ... . 1 in 5 Australian businesses are the victims of a cyber attack and the number of attacks continues to rise. One ... Insurance cover options such as Management Liability and Cyber Liability are little known but have the ...

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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 ... to consider. Public and Product Liability * : Public Liability insurance is  designed to ... listed in the policy. Cyber Liability * : Cyber Liability insurance helps to protect you ...

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Top Tricks To Help Improve Your Business' Risk Management

When you run your own business the last thing you want to be facing is unwanted risks that could threaten your business' future. With so many areas of the business to ... a preventive step to help protect your business from cyber-attacks and crime. An IT policy is another step ... can also outline what to do if a cyber-attack happens and an outline on what is acceptable/ ...

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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 ... prepared for any potential costs. For example, Cyber Liability Insurance covers your business against the expenses ... can read more about the benefits of Cyber Liability Insurance and also use these handy tips ...

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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 ... So What Can You Do? Insure your legal liability! Public Liability (or 'PL') covers claims against personal ... , a month or even a year. Consider Cyber Liability insurance, especially if your business relies on 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 ... about 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 ...

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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 ... . Examples of “must have” insurance: Public Liability – protects against legal and court costs in the ... which relies on their networks should have cyber cover Workers Compensation - provides cash benefits ...

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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 to get started? Which policy is right? How much cover is enough? Whether you're opening up a new business or have ... key areas of cover available to businesses. Public Liability insurance covers against the legal costs for claims ... interruption due to an insured event Cyber Liability insurance protects businesses against the ...

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5 Tips for an Insurance Health Check

If your insurance is due for renewal or you are just wanting to do a general review of your business, it's worth taking time to do a health check of your insurance to ... misconduct or legislative breaches. Cyber Insurance Protection against the ... might want to consider upping the level of your Public Liability insurance. Similarly, take into account any changes in nature ...

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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 ... , small and medium sized businesses buy Professional Indemnity, Public Liability, Business Insurance, Management Liability and now Cyber Insurance. BizCover provides multiple insurance quotes instantly online and the ...

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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 ... , small and medium sized businesses buy Professional Indemnity , Public Liability , Business Insurance, Management Liability and now Cyber Insurance. BizCover provides multiple insurance quotes instantly online and the ...

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BizCover Celebrates Third Consecutive Fast 50 Ranking

BizCover has once again been listed by the Deloitte Technology Fast 50 Awards as one of Australia's fastest growing technology companies. BizCover remains the only commercial ... , small and medium sized businesses buy Professional Indemnity, Public Liability, Business Insurance, Management Liability and now Cyber Insurance. BizCover provides multiple insurance quotes instantly online and the ...

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7 ways to improve your tradie business' productivity

It's no secret that the tradie industry is competitive. There are plenty of tradie businesses out there and it's never been easier for customers to connect with the ... to consider as a tradie: Public Liability insurance* Personal Accident and Illness insurance* ... Tool Cover* Tax Audit insurance* Cyber Liability insurance* Whether you are a ...

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Top 5 tips for tradies starting their own business

Launching your own business is both an exciting and nerve-wracking time with so much to think about, plan and get into motion. One of the great things about starting ... consider as a tradie include: Public Liability insurance * Personal Accident and Illness ... Cover * Tax Audit insurance * Cyber Liability insurance* Whether you are a plumber ...

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5 Things to Consider When Buying Public Liability Insurance

Public Liability insurance. It's one of ... your business? Not all Public Liability policies are the same and ... ... when it comes to legal requirements for holding Public Liability insurance. For some trade professions, it may ... may also come across requirements to obtain Public Liability coverage. It is a common requirement for those ...

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Legal Requirement for Public Liability Insurance

Public liability insurance covers your business for ... ' activities. Failure in obtaining public liability insurance policy can expose a ... ... of your business' activities. Failure in obtaining public liability insurance policy can expose a business to a range ... of pocket. Type and Level of Public Liability Insurance As with other forms of insurance, ...

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What Tradies Need to Know About Public Liability Insurance

... ins and outs of Public Liability insurance and what you need ... bits. So what is Public Liability insurance? In a nutshell, Public ... Liability ... a contractual requirement that you have Public Liability insurance in place well before picking up ... damage. Getting cover Sorting out your Public Liability insurance shouldn ‘ t be a hassle ...

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Public Liability Insurance for Cabinet Makers

Working as a cabinet maker, you are presented with many risks from the moment you pick up your tools. Protecting your business against unplanned challenges, like an ... is protection in place for when disaster strikes, Public Liability insurance may also be a requirement if you are ... . If so, make sure you have your Public Liability insurance policy sorted before you pick up the tools and ...

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Protect your business with Statutory Liability Cover

There are many different types of insurance policies available to small businesses to protect against countless number of unexpected events, such as injury caused to ... the facts, benefits and features of Statutory Liability insurance. Australia and the law There are ... or can afford to make. This is where Statutory Liability insurance comes into play – designed to help cover ...

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Public Liability Insurance Scenario

Just imagine: A phone call out of the blue. The caller has a voice you don't recognise. He's telling you he is hurt - badly - and you're responsible. You hang up. He ... lawyer Dimi Ionnou, who deals exclusively with public liability law cases at the Melbourne office of law ... the stated policy limits. Ms. Ionnou says public liability laws are “about protecting everyone, really.” “It's ...

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The Easter Bunny's Guide to Business Insurance

Each year at Easter millions of kilograms of chocolate are purchased and consumed around the world. In Australia alone close to $200 million is spent on Easter chocolate ... that would quickly follow. Having Product Liability coverage would assure the Easter Bunny that he ... as a public event, it could also represent a public liability risk, for which the Easter Bunny has maximum cover. If ...

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BizInsure Capitalizes on the Paradigm Shift in Commercial Insurance!

... small businesses to critical Professional Liability (E&O) insurance solutions. With ... ... allows customers to compare quotes, customize coverage, and buy online within minutes. We ... underwriting, and a new way of pricing professional liability insurance for independent professionals and small businesses. Our ...

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Insurance for Furniture Manufacturers

... the insurance marketplace. From Public Liability cover to a variety of ... ... for any territorial limits in your policy for liability claims that arise from overseas markets. You ... Some of the types of Business Insurance coverages available include: Contents and stock* - ...

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Sometimes Professional Indemnity Insurance is Needed

... insurance is handcrafted to provide coverage for claims brought against the ... ... a concept like professional indemnity insurance, which can cover and protect both parties where they need the coverage and protection most: Their bank account. In life, mistakes happen just as frequently as they do in ...

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Business Insurance Guide for the Self-Employed - Part 3

... and the main kind of coverage options to consider. What is ... ... with Business Insurance and the main kind of coverage options to consider. What is Business Insurance? ... the different types of Business Insurance coverage s available for selection . Business ...

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BizCover SME Insurance Price Index Q1 FY20

... price reductions on their Public Liability insurance, while prices have remained ... ... decrease (Professionals) in the price of their Public Liability insurance for the most recent quarter. This contradicts the ... industry increases we have seen for Public Liability insurance in the broader market. To find ...

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Big Bunny Business: An Interview with the Easter Bunny

This Easter we had the egg-citing opportunity to interview one of our favourite furry friends and expert chocolatier, the Easter Bunny! With a spring in his step and ... where my Public Liability Insurance offers me the protection I need. With this kind of coverage, what kind ... a leg, it's not a yoking matter! Public Liability Insurance also extends to protect me from property damage, ...

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7 Surprising ways business insurance can help your company

Operating your own business often means wearing many hats and making important decisions about your business every day. From managing the books to looking after your ... Different businesses have different needs and not every kind of coverage is going to be suitable . Once you have the ... you provide to your clients, Management Liability insurance covers the risks that occur when ...

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BizCover expands into New Zealand and launches BizCover.co.nz

Auckland, New Zealand - February 8, 2011. BizCover, the pioneer online insurance marketplace in Australia and leading provider of online professional indemnity insurance ... insurance coverage specifically ... Liability, Employers Liability, Employment Dispute Liability and other associated insurance products. To obtain a quote for professional indemnity insurance , and get instant coverage ...

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Business Insurance Guide for the Self-Employed - Part 1

There is nothing like being your boss. The freedom, the opportunity to pursue your passion and being in control of your career path. It also comes with the responsibility ... stall-holders – A minimum level of Public Liability insurance is often required when having a stall ... Liability insurance policy includes coverage for Product Liability. Mobile business – Public Liability ...

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Additional Cover for Professional Indemnity Insurance

By Kate Jones Clients frequently ask Hish Fernando for his certificates of insurance - it's just part of the business. Hish is the managing director of Information Mines ... but also with the additional cover option of public liability. Hish says his clients expect his business to ... this type of service allows her to get the right coverage quickly and therefore have more time to focus on her ...

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Understanding Insurance for Physiotherapists

Your clients rely on your expert advice and services as a physiotherapist. You help ease their aches and pains from minor sprains to long-term rehabilitation programs ... Liability insurance* Another common coverage for physiotherapists is Public Liability insurance. Public Liability ... requirement for you to have your own Public Liability insurance policy. Always be sure to check ...

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Understanding Insurance for Graphic Designers

Working as a graphic designer is an exciting and creative job but like other professions, it has its own risks. Some you probably wouldn't expect. Clients invest in ... why Professional Indemnity insurance is an important coverage to consider. Professional Indemnity (PI) ... , Public Liability insurance can protect you anywhere within Australia. It provides coverage for you ...

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Professional Indemnity Insurance for Consultants

A large number of people that start businesses, in Australia have been experiencing a steady growth in business for the past few years. One area that is growing in magnitude ... coverage if you think that you may need it in the future or at any time during your Professional Indemnity Insurance policy's term. As an example, at some point you may want to add business insurance or public liability ...

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So You Want to Start a Side Hustle? Here's What You Need to Know - Part 2

Welcome back to part 2 of our guide on what you need to know when starting a side hustle. In part 1 we explored some of the steps involved with setting up your side ... Public Liability insurance to protect their risk of a liability claim. Public Liability insurance* is ... insurable event. E xample s of some of the coverage options include Building, Contents, Goods in Transit and ...

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The bricks and mortar of building insurance cover- what you need to know

Your business property is like your home away from home and is the place where you work your magic. Whether you're in the business of providing expert advice to clients ... if damaged. Period of inoccupancy: Loss, damage or liability during any period in excess of 90 consecutive days ... you do this annually to ensure that there is ample coverage if a disaster were to strike. Keep in mind ...

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5 Common Beauty Insurance Claims

As much as we like to hope otherwise, unexpected events happen! Things can go dreadfully wrong despite the best efforts we take to prevent them and the simplest of ... measures you take, having a policy that provides coverage for stolen contents and/or stock can mean ... under my contract with my landlord to hold a Public Liability policy. I've always enforced strict health and safety ...

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Professional Indemnity Claims: when should I notify my insurer?

Your Professional Indemnity (PI) insurance is no doubt one of the most vital covers you have for your business. If things don't quite go to plan it can provide much ... for a fresh unrelated incident there will be no coverage. Your insurer does not have to prove that you ... that you have complied with the requirements Never admit liability or attempt to resolve a complaint on your own ...

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Things you didn't know about small business insurance

Getting the insurance sorted for your small business can be pretty straightforward, jump online, compare quotes and buy the insurance that suits your business. But there ... lower premium. To put this in perspective, a public liability policy for an SME working from home generally costs ... the move It's wise to review and update your coverage every year. No doubt your business is on the ...

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Investec Acquisition of BizCover the Right Decision

The acquisition of BizCover, an Australian-owned online professional insurance broker marks another key milestone for Investec. FOR IMMEDIATE RELEASE PRLog (Press Release ... more products, including Business Insurance and Public Liability insurance . It has become the one-stop ... offer customers the most competitive and comprehensive insurance coverage available, in the shortest amount of time ...

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Insurance prices remain steady despite market predictions of higher premiums

Whilst the market at large has been talking about hardening rates over the last few months, the latest BizCover Small Business Insurance Index is showing little change ... levels of profitability have resulted in stable prices and coverage. The result is in line with BizCover CEO ... highly profitable small business sector.” Public Liability and Professional Indemnity prices have seen no ...

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BizCover SME Insurance Price Index Q1 FY21

BizCover clients buck the trend of insurance price hikes. Whilst the Australian Small Business and Family Enterprise Ombudsman is running an inquiry into the availability ... relatively flat, when you drill into each the coverage within each group, there were some clear winners ... can be viewed here: SME Insurance Price Index Public Liability insurance is an essential cover for SME's and one ...

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Comparing Portable Equipment & Electronic Equipment Cover

Business insurance isn't always straightforward, and sometimes you need to get down into the nitty-gritty to understand what insurance is being offered and which one ... ' or covered storage. That is, some insurers exclude coverage for theft of equipment if it is stolen whilst in ... The Verdict Portable Equipment and Electronic Equipment coverage have some similarities, but when you drill ...

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Beauty to go! What Mobile make-up artists need to know about insurance

There are some obvious pros to working as a mobile freelance make-up artist - you have control over the hours you work, you get to work with a wide range of clientele ... a claim to be made. Fear not, Public Liability insurance can help clean up the mess by covering ... why it is good to have your Professional Liability and Public Liability cover combined through the one insurer as these ...

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A Guide to Helping Your Business Make a Stress-Free Claim

Lodging an insurance claim is never a fun time for anyone, involving the loss or damage to something that mattered to your business due to a disastrous event. It can ... on your level of cover, to make sure you have coverage for the right things and that you have enough cover in ... . If you have coverage for contents it is a good time to make sure you have enough coverage and that you have ...

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Keep calm and stretch on with Yoga Teacher insurance

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 ... of an accident happening, and that's why Public Liability insurance is equally important for yoga teachers. If a ... 's been left on your studio floor, Public Liability insurance can cover the related costs to defend such ...

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Do I need insurance for my market stall?

From fresh food and irresistible treats to clothing, arts, crafts, and bric-a-brac, Australia has become spoiled for choice when it comes to markets. And with the festive ... cover - Public Liability and Product Liability. Public Liability Public Liability covers you for the ... has been damaged or broken. Product Liability Product Liability is designed to protect you against claims ...

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How to survive the silly season: a guide for small businesses

In the blink of an eye, the silly season is here again! For some, it's the busiest time of year, from retailers helping people get their last-minute gifts and service ... Make sure you check that the venue has Public Liability cover in place to cover your employees and invited ... is required to the owner and if your Public Liability policy includes this. Batten down the hatches One of ...

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Dishing up the facts on food business insurance

Flipping burgers, filleting fish, grinding coffee beans the fast-paced world of the food industry leaves no spare time to be left worrying about whether you have the ... your business, you can find protection for your legal liabilities, assets and revenue if the tables were to ... to a whole variety of risks and the potential for a liability claim to be made. And it's not just the ...

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Business Insurance Guide for the Self-Employed - Part 2

Navigating the world of business insurance can be confusing which is why we've made it our mission to make it a bit easier. We've created a guide to business insurance ... include: Intentional damage   Contractual liabilities   Your p rofessional fees   ... Indemnity insurance policies may even include coverage for PR related expenses, something that ...

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Misconceptions Around Professional Indemnity Insurance

A common misconception is that the claims professional indemnity insurance covers are only the experiences of the business that does inadequate work for clients. This ... records, should be cautious. Increasing the amount of coverage if is appropriate, may be necessary from time to ... of risk involved. Businesses or consultants whose insurance coverage is not sufficient may need to draw funds ...

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How Does Professional Indemnity Insurance Benefit You?

If you are a professional and have your own company, then it is advisable that you have professional insurance, which can also be referred to as professional indemnity ... have professional indemnity insurance that provides coverage against lawsuits filed because of misrepresentation, ... should have adequate professional indemnity insurance coverage against financial losses caused by lawsuits ...

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

The world of plastering is varied, one day you're crafting decorative ceiling features, the next hanging drywall in an office complex. You've worked hard to get your ... from happening. Don't be a liability Like most trades, Public Liability insurance is one of the important types ... will require you to have your own Public Liability insurance before you even step foot on site. ...

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Tips for making a Stress-Free Claim

Making an insurance claim can be stressful but it doesn't need to be. In the aftermath of a disastrous event, we understand how important it is to get your business ... up to date, especially your contact details and business address. If you have coverage for contents it is a good time to make sure you have enough coverage and that you have included new and valuable items on your policy ...

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Understanding Insurance for Interior Designers

As an interior designer, you are an expert when it comes to making a house a home using an eye for detail and a creative flair. Like any profession, it isn't one without ... or you are meeting them on – site, Public Liability insurance is one of the main types of cover ... suppliers the community and their property. Public Liability Insurance is designed to provide protection for ...

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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