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 ... costs and as defence costs for the breach of privacy. This is why cyber insurance should be an important part of your risk management plan, as it provides protection against the expense and legal costs associated ...

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Cyber Liability Insurance: the safety net small businesses need

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

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Protecting your Business from Cyber Risks - Part 2

In Part 2 of our cyber risk series, we take a look ... from a cyberattack. We also explain what Cyber Liability insurance is and ... security ... 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 ...

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Protecting your Business from Cyber Risks - Part 1

... at the common types of cyber risks that SMEs face and the ... with potential scams. Types of cyber risks Cybercrime Spotting [] ... stored online every day , th e risk of a data breach is something that can ... insurance options to suit your business needs, including Cyber Liability insurance * . Cyber Liability insurance ...

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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 ... 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 supply chain risk ... cyber insurance ...

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Business Insurance Guide for the Self-Employed - Part 4

... piece of our Business Insurance for the self-employed ... Accident and Illness insurance and Cyber Liability insurance. We share the ... 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 ...

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What are some types of insurance available for small businesses?

... consideration is getting your business insurance sorted. There are many kinds ... it comes to getting your insurance sorted because no two businesses ... 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 ...

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Insurance for Civil Engineers- what you need to know

... about what kinds of business insurance coverage you may need to ... ... 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 ...

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7 Types of Insurance Your Small Business Should Consider

... is Small Business Insurance. But what kind of insurance do you actually ... ... sufficient protection, you could potentially risk losing not only your business, but your personal assets too. Management Liability Insurance explained. Cyber Liability Insurance If you have a website ...

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Insurance for architects- the blueprint to success

... it's not one without risk. From the ground up, your ... ... exciting one, yet it's not one without risk. From the ground up, your responsibilities are skyscraper ... – don't become a statistic. [i] Cyber Liability insurance provides essential financial protection if your system is ...

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Understanding Insurance for Retailers

... risks for things to go wrong, and that's where business insurance ... ... an insured event (such as fire).   Cyber Liability Insurance* As more and more retailers do their business electronically , the real risk of cyber crime becomes an unfortunate reality. Hackers can ...

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The Risks of Growing Your Small Business

... to fail is not taking risks. Mark Zuckerberg There comes a ... ... a month or even a year. Consider Cyber Liability insurance, especially if your business relies on a ... of events that have the singular power to financially ruin it. Risk is your friend, and while you need to embrace it, ...

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5 Surprising Things Business Insurance Can Cover

When looking for Business Insurance, most small business owners typically ... can get cover for most risks that a small business faces ... ... clients you're an exceptionally prime target. Cyber Liability insurance is a 'must have' policy for ... of these things however, it's important to assess your risks to determine what you do need to ensure your business is ...

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

... most common issues with Business Insurance is that policy owners often ... protect you against, and the risks that still remain. Being aware ... ... ) until you can work again. Cyber Liability Insurance – Cyber Liability Insurance protects against the expenses and legal ... , so be sure to take stock of the risks specific to your business and select the options that ...

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Understanding Insurance for Mortgage Brokers

... the appropriate types of business insurance. [] ... 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 ...

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Understanding Insurance for Real Estate Agents

... doesn't come without its risks. From providing professional advice to ... consider the appropriate kinds of insurance you may require to keep .. ... tax audit, employment practices and statutory liability risks. Take the time to look at the ... Get peace of mind with Cyber Liability insurance . Cyber Liability insurance is designed to help protect you ...

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What are the Insurance Options for Land Surveyors?

... yourself and your company with insurance is a smart investment. Land ... ... 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 ...

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

Know you need business insurance but aren't sure how ... while and looking to buy insurance for the first time; there ... ... illness? 2. What types of insurance do I need? Now that you have a fair idea of what your risks are and what you need to ... due to an insured event Cyber Liability insurance protects businesses against the ...

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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 ... business, helping to safeguard it from unforeseen risks. Protecting your business with the right kind of ... separate policy to your personal home contents insurance. Cyber Liability* Many mumpreneurs have embraced 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 ... ... more and more sophisticated in their ability to exploit businesses using the internet, cyber insurance is a simple way to manage risks. BizCover's top tips to prevent and manage data breaches: Clearly identify ...

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Top Tricks To Help Improve Your Business' Risk Management

... to be facing is unwanted risks that could threaten your business ... ways you can improve the risk management of your business. 1 ... ... Every business will have their own unique risks and types of business insurance in place. If changes in your business ... can also outline what to do if a cyber-attack happens and an outline on what is acceptable/ ...

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The Risky Business of Insurance

... and future planning. Managing business risk and ensuring that a business ... ... , staff, stock and future planning. Managing business risk and ensuring that a business can survive unforseen events ... substantial assets you should insure them Cyber Insurance - Protects your business against the ...

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5 Tips for an Insurance Health Check

If your insurance is due for renewal or ... a health check of your insurance to ensure that if the ... ... misconduct or legislative breaches. Cyber Insurance Protection against the expenses ... This is due to each insurer having their own preferred risk. You may also find the inclusions and exclusions differ between ...

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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 ... data, intellectual property and bank account information. The following example show why cyber insurance is an important part of your risk management plan as it provides protection against the expenses and legal costs ...

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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 ... vigilant of the types of risks that can damage their business ... need to be vigilant of the types of risks that c an damage their business, the measures to take to prevent becoming a victim and how Cyber Liability insurance can help protect your business from the ...

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Scams & Cybercrime at Tax Time

... the prime time for prowling cyber criminals to attack. This is ... ... updated regularly? Lack of education on cyber risks: are you and your employees ... Cyber Liability insurance can be a valuable tool in protecting your business. What is Cyber Liability insurance cover? Cyber ...

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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 ... , 000 in losses since the outbreak of the virus. Small businesses are not immune from cyber-crime and Cyber Liability insurance ca n be a wise choice when it comes to protecting your business online ...

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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 ... Risk Barometer for 2018 identified that Cyber Attacks were the number one business risk ... your business were to be the victim of a cyber attack, Cyber Liability insurance is there to help by providing coverage for expenses ...

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Business Horror Stories

... are the victims of a cyber [] ... associated costs. Find out more about Cyber Insurance here. THE DEREGISTERED DISMAY Threats ... skill or level of professionalism. There is always the risk of an unhappy client making a claim against or ...

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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 ... types of risks. As a home-based business , these are some of the types of insurances you may ... event listed in the policy. Cyber Liability * : Cyber Liability insurance helps to protect you from ...

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Preparing your store for the holiday season ahead

... increase in safety and security risks. Here are a few tips ... ... side it can also mean an increase in safety and security risks. Here are a few tips to protect your customers, your ... access systems and data. Therefore, a Cyber Liability insurance policy can act as your safety net ...

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Turn the spotlight on hackers and protect your data

... personal information, there's some risk taken on their behalf. Unfortunately ... ... , but keep it simple. If you sense there's a risk to someone, there probably is and you need to act. ... for any potential costs. For example, Cyber Liability Insurance covers your business against the expenses associated ...

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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 ... of these things but if it is too overwhelming it's worth considering cyber insurance for your business . Most cyber insurance policies will not only cover your business financially but will help organise the retrieval ...

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

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

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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 ... businesses buy Professional Indemnity , Public Liability , Business Insurance, Management Liability and now Cyber Insurance. BizCover provides multiple insurance quotes instantly online and the ability to select and ...

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BizCover Celebrates Third Consecutive Fast 50 Ranking

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

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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 ... / Tool Cover* Tax Audit insurance* Cyber Liability insurance* Whether you are a landscaper or a builder , being a tradie means there are a variety of potential risks that could harm your ...

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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 ... Cover * Tax Audit insurance * Cyber Liability insurance* Whether you are a plumber or a chippy, the tradie industry is full of varying potential risks that could cause havoc for ...

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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 ... Operating a market stall at a busy market, event, festival or concert exposes you to a wide range of potential risks. Insurance for market stall holders is designed to protect you and your business against the financial ...

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Legal Requirement for Public Liability Insurance

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

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How the cost of Professional Indemnity insurance is calculated

... of a Professional Indemnity (PI) insurance policy is calculated and why ... Professional Indemnity insurance. Insurance policy pricing is generally ... that that impact the cost of Professional Indemnity insurance. Insurance policy pricing is generally calculated on risk factors and put simply, the higher the level of risks, the higher the premium. Some of these keys ...

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Public Liability Insurance for Cabinet Makers

... , you are presented with many risks from the moment you pick ... considered as part of your risk management plan and can be ... the right kind of ... like an accident or a claim, should be considered as part of your risk management plan and can be done easily with the right kind of business insurances in place. Regardless if you are self-employed, a sole trader or a ...

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

... you risk seeing it crumble by not having the right insurance in ... ... to get your business where it is, so why would you risk seeing it crumble by not having the right insurance in place? Read on to discover the key types of insurance you need to consider as a plasterer, and what you can ...

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Keep calm and stretch on with Yoga Teacher insurance

... of arranging your yoga teacher insurance go. As a yogi or ... business. Let us centre your insurance chakra by exploring some of ... ... of the public when you go about your business, there is always the risk of an accident happening, and that's why Public Liability insurance is equally important for yoga teachers. If a student (or perhaps even a ...

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5 Things to Consider When Buying Public Liability Insurance

Public Liability insurance. It's one of those ... ... run, so don't be afraid to ask your insurance agent what certain features and benefits are if you are ... time to make a regular check on how you reduce risks within your business. Creating a safe work environment not only ...

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Business Insurance Guide for the Self-Employed - Part 1

... should have a focus on risk management strategies and protection for ... are a variety of business insurance [] ... are a few examples of when a self-employed worker may require Public Liability insurance. H ome-based office – The risk of a client accidentally injuring themselves on your property is a reality and ...

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Professional Indemnity Insurance for Consultants

... , there is a comes a risk [] ... seem unfair, but the fact remains that you are at risk.One way to ensure that this never happens to you, is by purchasing something called Professional Indemnity Insurance , this is a very safe option to assure you ...

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Managing Risk for Tradesmen

... you're exposed to greater risk than many other business owners ... ... contractor often means you're exposed to greater risk than many other business owners. There's ... good news is you can protect yourself with Personal Accident & Illness insurance. It pays up to 85% of your income, with a ...

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Insurance for Furniture Manufacturers

... wrong. This is where business insurance comes into play and should ... business' risk management plan. The process of arranging your insurance ... play and should be one of the foundations of your business ' risk management plan . The process of arranging your insurance can feel overwhelming at times , with many types of cover available ...

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Professional Indemnity Insurance for Civil Engineers

... . Like any profession there are risks that you are exposed to ... a professional, considering Professional Indemnity insurance to protect* you and ... out of business. Below we'll explore Professional Indemnity insurance and how it can apply to your work as a Civil engineer. Civil Engineering risks Within the engineering industry there is a large scope around ...

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Common Small Business Insurance Claims and How to Prevent them.

... . Whilst you've got the insurance to help you out, you ... ... business and your bottom line. Whilst you've got the insurance to help you out, you'd ultimately rather avoid the ... events can cause, that's where having a good risk mitigation plan comes to play. Given our limited ...

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Understanding Insurance for Interior Designers

... one without risks. This is where having the right business insurance in ... and outs of how business insurance can protect your interior design ... and a creative flair . Like any profession , it isn't one without risks . T his is where having the right business insurance in place is vital. Let us guide you through the ins and outs of ...

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Understanding Insurance for Graphic Designers

... professions, it has its own risks. Some you probably wouldn't ... , that's when your business insurance comes into play. We've ... ... creative visions are subjective and there is always the risk of an unhappy client making a claim. This is why Professional Indemnity insurance is an important coverage to consider. Professional Indemnity (PI ...

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7 Surprising ways business insurance can help your company

... of sorting out your business insurance may feel like an overwhelming ... ... cover in relation to the advice and services you provide to your clients, Management Liability insurance covers the risks that occur when running your business. This is an example of some of the areas ...

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6 Common Risks That Small Business Owners Face When Starting Out

... light on some of the risks and dangers involved with starting ... ... and time in your business, so it makes sense to protect it for the long haul. The risk of not having business insurance could spell disaster. If you were uninsured and a claim occurred, the impact on your finances ...

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Business Insurance Guide for the Self-Employed - Part 2

Navigating the world of business insurance can be confusing which is ... created a guide to business insurance for the self-employed that ... and outs ... you out of business. Without the protection of Professional Indemn it y insurance , personal assets like your home may be at risk to cover the claim-related costs. Time Something often overlooked is ...

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Small Business Insurance Index

... price increases in the business insurance market, SMEs are continuing to ... the cost of business insurance, the BizCover SME Insurance Price ... seen no increases in the overall prices for their insurance, there have been changes within product groups and industries ... platform, particularly for those SMEs in low risk industries.” “Even though they are not ...

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Misconceptions Around Professional Indemnity Insurance

... that the claims professional indemnity insurance covers are only the experiences ... ... from time 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 ...

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Dishing up the facts on food business insurance

... you have the right business insurance. When it comes to insuring ... ... should food businesses consider? Public Liability Insurance Dishing up food and beverages to the public everyday exposes your business to a whole variety of risks and the potential for a liability claim to ...

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Personal Accident and Illness Insurance for Tradies

... are exposed to lots of risks, and if something does go ... ... do happen. Being a tradie, you are exposed to lots of risks, and if something does go wrong, it could cost you ... , the waiting periods and the type of Personal Accident Insurance policy you want to have in place. You can ...

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6 Areas You May Not Have Thought Business Insurance Covers

... assets and revenue against potential risks that may impact your business ... ... protect your business assets and revenue against potential risks that may impact your business, such as ... include Business Interruption as part of your Business Insurance package. It's important to remember that your ...

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Business Insurance Guide for the Self-Employed - Part 3

... in the world of business insurance, it can feel like you ... guide on all things Business Insurance for the self-employed. In ... back to basics ... a business pack , it offers different types of insurances to suit your business and protect it from potential risks . A way to look at what business insurance options your business may need is by gauging ...

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BizInsure Capitalizes on the Paradigm Shift in Commercial Insurance!

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

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The difference between Public Liability and Professional Indemnity insurance

... most common types of business insurance, but do you really know ... . What is Public Liability insurance*? Public Liability Insurance is designed ... th e n this is an important form of cover to consider. What is Professional Indemnity insurance * ? Professional Indemnity protects you against losses claimed by a third – party due to alleged ...

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BizCover Disrupts Insurance by Commoditising it

... the BRW article. Self-proclaimed insurance industry disrupter BizCover is trying ... by letting newcomers to the insurance sector, such as Coles ... approximately $20 million in annualised revenue. It has the permission of four of the nation's major insurance houses to sell their products. BizCover targets the small to medium enterprise segment and claims to have ...

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How Does Professional Indemnity Insurance Benefit You?

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

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A Guide to PI Insurance

... to make Professional Indemnity Insurance simple (also known as ... errors and omissions insurance, PI or Professional Indemnity ... is Professional ... know if they are getting the best deal. This is where BizCover steps in to satisfy your Professional Indemnity Insurance needs. BizCover allows you to get live online quotes in under 2 minutes , and purchase in only ...

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iSelect partners with BizCover to launch business insurance comparison

... expanded their general insurance offering to include business insurance, through a partnership ... , Australia's leading small business insurance ... with one of BizCover's trained consultants. Mark Pangrazio, iSelect's Head of Commercial for Health & General Insurance, said the company was thrilled to be partnering with BizCover to assist it in focusing on the SME ...

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BizCover SME Insurance Price Index Q1 FY21

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

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What Tradies Need to Know About Public Liability Insurance

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

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BizCover SME Insurance Price Index Q2 FY20

More larger businesses with simple insurance needs are using BizCover for ... their insurance, while smaller businesses benefit from ... this quarter ... Retail & Hospitality. Whilst all three groups have experienced no increases in the overall price of their insurance, there have been changes within product groups and industries. The Full Report can be viewed here: SME ...

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BizCover SME Insurance Price Index Q1 FY20

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

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Things you didn't know about small business insurance

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

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STABLE INSURANCE RATES A REASSURANCE FOR SMEs

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

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Steady as she goes - still no increases in Insurance Premiums!

... The BizCover Small Business Insurance Price Index is indicating ... market for small business insurance continues to benefit from ... stability in ... in the index over the last 9 quarters. The Retail Sector is one of the few industries where insurances prices have increased. A trend driven by continued competition, as well as capacity in the market. This ...

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Small Business Insurance Price Index Q3

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

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What Limit of Professional Indemnity Insurance Do I Need?

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

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

... 'lock up' operations. Business interruption insurance can provide both peace of ... ... a vital element in your wider disaster recovery plan - a plan that should include both a broader insurance package and (crucially!) a clear guideline for how your business would react and recover after a disaster event ...

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Insurance Premiums for Retailers Continue to Climb

Insurance Premiums for Retailers Continue to ... The latest BizCover Small Business Insurance Price Index has been released ... an increase in small ... 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 ...

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

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

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Additional Cover for Professional Indemnity Insurance

... Fernando for his certificates of insurance - it's just part ... ... cover option of public liability. Hish says his clients expect his business to be covered by professional indemnity insurance to ensure there is cover in place in the case of any potential legal action they may take ...

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Sometimes Professional Indemnity Insurance is Needed

Professional indemnity insurance is handcrafted to provide coverage ... ... any potential policy holder needs to consider when deciding upon whether or not they should buy professional indemnity insurance is the potential financial loss that can occur as a result of legal fees whether or not ...

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Small Business Continues to Win on Insurance Prices!

... ; however the BizCover Small Business Insurance Price Index for the first ... ... all indicate that the industry is long overdue for a price increase; however the BizCover Small Business Insurance Price Index for the first quarter of the financial year indicates that insurers have not been able to ...

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Michael Gottlieb Featured on the Insurance Business Hotlist for 2014

... successful in taking out the Insurance Business Brokerage of the Year ... ... the broking world, and not just because his Mega Capital business was successful in taking out the Insurance Business Brokerage of the Year award and featured in the Deloitte Technology Fast 50 Australia ranking for the ...

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Michael Gottlieb featured in Insurance Business

In January, our Managing Director Michael Gottlieb was interviewed by Insurance Business magazine, giving his outlook on 2014. Insurance Business - The In January, our Managing Director Michael Gottlieb was interviewed by Insurance Business magazine, giving his outlook on 2014. Insurance Business - The Year Ahead

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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 ... : Machinery As with most types of insurance policies, there are a number of factors that affect how your premium is calculated. Generally, the higher the level of risk that your business is exposed to ...

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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 ... can operate from. Lastly but most importantly, identify the unique risks to your business and safeguard against them by making sure you have the right insurance policies in place. It's also a wise idea to conduct ...

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Insurance Considerations for Personal Trainers

Working as a personal trainer can be a rewarding career. Not only do you get to help your clients achieve their goals and transform their lifestyles, but it's also the ... , it could also be a member of the general public). To cover these types of risk consider public liability insurance which will provide financial protection in the case someone suffers an injury (or even damages property ...

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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 ... based business means you're out and about, exposed to unforeseeable risks that could result in an unsightly claim. That's why Portable Equipment insurance (also known as General Property) is an essential form of cover ...

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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 ... due to fault of his product. The egg hunt is on…the risk is high? The Easter Egg hunt is an age old tradition, ... stored in stop working? Within a Business Insurance pack the Easter Bunny would have cover ...

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Getting the Best Value on Your Business Insurance

The new year is now in full swing, and if you're like some of us in this office, you will probably have resolved to be a bit smarter with your money in 2016 and perhaps ... you may be able to make a saving on your insurance. Also if you are no longer doing certain business activities ... premium accordingly another may see your business as low risk and offer a lower premium. The easiest way ...

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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: 



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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