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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 ...
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read more... expanded their general insurance offering to include business insurance, through a partnership ... , Australia's leading small business insurance ... to medium (SME) business owners a full end-to-end online service to compare most of their business insurance needs, with policies available from some of Australia's leading insurers. SME customers will have the option of ...
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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 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 ...
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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?
