Cyber Liability Insurance is a fast growing area of insurance within the Australian market. With data being one of the key assets of a business, more and more businesses are being exposed to malicious attacks by hackers. Changes in legislation both here in Australia and globally are forcing organisations to take data protection seriously. Along with this, businesses are heavily reliant on their IT infrastructure for the day to day operation of their business.
If your business is the victim of a cyber attack, who would be there to help? How will your business get itself back up and running?
A good Cyber Insurance policy can assist.
Expenses for an organisation to notify individuals and regulators of a data breach, including legal, forensic and public relations costs.
Expenses for an organisation to repair and restore their computer systems, including third party forensic IT experts.
Loss of income for an organisation due to a cyber event occurring at their business.
Expenses to deal with cyber extortion threats such as ransomware.
Coverage for claims from third parties in relation to security or privacy issues, including potential fines and penalties that may be issued by a regulator.
Coverage for claims from third parties in relation to multimedia content, including libel/slander and defamation issues.
Austbrokers Cyber Pro Pty Ltd is a Corporate Authorised Representative of Austbrokers Sydney Pty Ltd AFSL No. 244244
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