Cyber Insurance is designed to help businesses respond to cyber incidents, data breaches and technology-related disruption.

Depending on the insurer and policy, cover can include costs associated with:

• Incident response
• IT forensic investigations
• Data recovery
• Business interruption
• Privacy breaches
• Legal advice
• Notification of affected individuals
• Crisis and public relations assistance
• Cyber extortion
• Certain third-party liability claims

What types of incidents can occur? #

Cyber incidents can include:

• Ransomware
• Malicious software
• Unauthorised system access
• Email account compromise
• Theft or loss of personal information
• Accidental disclosure of confidential information
• Social engineering or invoice fraud

Financial-loss cover for social engineering, fraudulent payments or funds transfer can vary significantly between insurers and may be subject to separate limits, conditions or verification requirements.

Is Cyber Insurance only for large businesses? #

No.

Small and medium businesses can also hold:

• Client information
• Employee records
• Payment details
• Commercially sensitive data
• Cloud-based systems
• Email and online banking access

The level of exposure depends on how the business uses technology and what information it holds.

You can also review our Australian data breaches list for examples of incidents affecting Australian organisations.

Contact our team if you would like to discuss Cyber Insurance for your business.