Webber Insurance Services Webber Insurance Services
Talk to an insurance broker

1300 932 237

Menu
  • Home
  • About
    • About Us

      Read more about our Business and Partners.

      Find out more about the team at Webber Insurance, what our clients say and who we partner with to enable us to provide you with superior insurance products.

      Contact Us
      • About Us
      • Webber Insurance Group
      • Steadfast Insurance
      • Testimonials
    • Close
  • Blog
    • Blog Posts & Ultimate Guides

      Read our latest blog posts plus get further information on key topics in our ultimate guide pages.

      At Webber Insurance, we work to expand our clients understanding of a wide range of business risk management topics

      Latest Blogs
      • Ultimate Guide – Data Breach Notification
      • The Ultimate Guide to Cyber Insurance
      • Data Breaches In Australia
    • Close
  • Products
    • Insurance Products

      We will find you the right insurance product for your business.

      Use a qualified Insurance Broker to ensure that you have an insurance program that is tailored to your specific needs.

      Quick Quote
      • Asbestos Liability
      • Building Indemnity Insurance
      • Business Insurance
      • Commercial Legal Protection Insurance
      • Contract Works Insurance
      • Contractors Insurance
      • Corporate Travel Insurance
      • Cyber Insurance
      • IT Liability Insurance
      • Management Liability Insurance
      • Medical Indemnity Insurance
      • Plant & Equipment Insurance
      • Professional Indemnity Insurance
      • Public & Products Liability
    • Close
  • Occupations
    • Occupations

      We can source insurance for all kinds of occupations.

      As a specialist insurance broker, we have access to a range of local and overseas insurers who are capable of assisting with risks; large or small for all occupations

      Quick Quote
        • Accounting Insurance
        • Architect Insurance
        • Building Designer Insurance
        • Building Inspector Insurance
        • Consultants Insurance
        • Energy Raters Insurance
        • Engineers Insurance
        • Labour Hire / Recruitment
        • Project Management Insurance
        • Real Estate Agents
        • Tradesman Insurance
    • Close
  • Schemes
    • Schemes

      Insurance schemes for various occupations and industries.

      Webber Insurance has a number of insurance schemes that we have developed for specific industries and occupations.

        • ABSA TPA Assessors
        • Building Designer Association Australia (BDAA)
        • Building Design Queensland (Formerly BDAQ)
        • Building Designers Association WA (BDAWA)
        • Building Designer Insurance
        • Design Matters National (Formerly BDAV)
        • Energy Raters Insurance
    • Close
  • FAQ’s
  • Get a Quote
    • Get A Quote

      We work to simplify the insurance process for our clients.

      Complete one of our online proposal forms today to receive a quote for your insurance requirements

      Get A Quote
      • Annual Contract Works
      • Asbestos Liability
      • Cyber Insurance
      • One Off Contract Works
      • Professional Indemnity
      • Public Liability
      • Architects
      • Building Designer
      • Consultants
      • Engineers
      • Plant & Equipment
      • Tradesman
      • Accountants
      • Commercial Legal Expenses
      • Corporate Travel
      • IT Liability
      • Management Liability
      • Project Manager
    • Close
  • Claims
  • Contact
Webber Insurance Services Webber Insurance Services
Call Menu
  • Get a Quote
  • Make a Claim
  • Professional Indemnity Insurance
  • Products
    • Asbestos Liability
    • Business Insurance
    • Cyber Insurance
    • IT Liability Insurance
    • Contractors Insurance
    • Management Liability Insurance
  • Occupations
    • Accounting Insurance
    • Architect Insurance
    • Building Designer Insurance
    • Building Inspector Insurance
    • Consultants Insurance
    • Engineers Insurance
    • Energy Raters Insurance
    • Labour Hire & Recruitment Insurance
    • Real Estate Agents
    • Tradesman Insurance
  • Schemes
    • ABSA TPA Assessors
    • BDAA
    • BDAWA
    • Building Design Queensland
    • Design Matters National
    • Energy Raters Insurance
  • Contact
  • FAQ’s
  • About
    • Testimonials
  • Blog
    • The Ultimate Guide to Cyber Insurance
Mar 26
Online Insurance

What Insurance Does an Online Business Need?

  • March 26, 2013
  • Chris Webber
  • Insurance News

It is a question that is being asked a lot more frequently by clients and the answer can be confusing. Online businesses face increasing risks associated with doing business online. Companies who face an higher risk include:

  • Online Retailers including Supermarkets & Department Stores
  • Hospitality Providers including Hotels, Pubs & Restaurants
  • Professional Services including Lawyers, Accountants, Media & Technology companies
  • Travel Providers including Airlines, Travel Agents & Tour Operators
  • Healthcare Providers including Doctors, Dentists & other Private Healthcare Providers

At present, the majority of insurers do not provide adequate protection for the risks that the digital age brings. Covers such as professional indemnity insurance and public liability insurance including IT liability insurance are traditionally the most common line of insurance taken out, but is this cover enough?

Do these covers give you the protection you need? Do they give you any cover at all?

Technology Exposures Outpacing Available Insurance

Unfortunately, for online businesses, technology is moving at a pace significantly faster than the traditional insurers can keep up.

Currently, if you have a business insurance policy do you have cover if:

  • You send an email with a virus that causes damage to the recipients computer?
  • Someone hacks into your website and takes it offline, changes the information or holds your website hostage?
  • Your customers credit card information is stolen from your online store?

The answer to all three questions is most likely ‘NO‘.

This means that you have zero cover should one of these incidents occur.

Cyber Insurance Can Protect Your Online Business

Cyber Insurance or in some places Privacy Protection Insurance is the new cover on the Australian market designed for your ‘online’ type exposures. The cover has been around in Australia for only a short period of time but in the USA & UK, it has been sold for almost 10 years.

Australian insurers are slowly getting these types of cover to the market, but it will remain the insurance industries best kept secret for a few years to come.

The good news is that a solution is here. Not only that, this cover is now a viable solution for small businesses including E-Tailers, IT Companies and any other business that stores customers information either online or offline.

A Cyber Insurance policy can usually be broken down into the following sections:

  • Privacy Protection
  • Breach Costs
  • Cyber Business Interruption
  • Cyber Liability
  • Hacker Damage
  • Cyber Extortion

Some policies can also incorporate the traditional covers such as Professional Indemnity & Public Liability.

Each section provides a specific type of cover and like a standard business insurance policy, you can pick and choose which sections you want cover for and the limits required.

It is very important to ensure that your online business is protected. There are now options available to help minimise a potential loss that in today’s fast pace, may unfortunately be only just around the corner.

  • Facebook
  • Twitter
  • Tumblr
  • Pinterest
  • Google+
  • LinkedIn
  • E-Mail
blank

About The Author

Chris Webber is the Director of Webber Insurance Services. Chris has been in the insurance industry for almost 15 years and is an SME business insurance specialist. The information on this blog and website is of a general nature only. It does not take into account your individual financial situation, objectives or needs. You should consider your own financial position and requirements before making a decision. We recommend you consult a licensed insurance broker in order to assist you.

Comments are closed.

[google-reviews-pro place_name=’Webber Insurance Services’ place_id=ChIJCdEpL7_OsGoRZ1anX5zt5sw rating_snippet=true view_mode=badge_inner lazy_load_img=true]

Recent Posts

  • Daniel Webber Named Winner of 2022 Elite Broker Award
  • Advisr Insurance Broker Awards 2021 – Daniel Webber Named Finalist
  • Nikia Goers Announced as Young Professional Broker of the Year Finalist
  • Daniel Webber Named Elite Broker for 2021
  • Daniel Webber Named Advisr’s Top South Australian Insurance Broker of 2020
  • Changes To Registration Requirements For Business Use Drones
  • We’ve Moved! Webber Insurance Services Office Relocation
  • NSW Building Designer Registration – An Update From Webber Insurance
  • Wimbledon To Receive $141 Million Insurance Payout Due To Cancellation
  • BDAA Hole In One Challenge

Contact us

  • Make an enquiry
  • Get a Quote
  • 1300 932 237
Webber Insurance Services
blankblankblank
  • Terms of Use
  • Privacy Policy
  • Financial Services Guide
  • Complaints & Disputes Handling
  • Code of Practice
© Copyright 2021 Webber Insurance Services

328A Magill Road, Kensington Park SA 5068

Webber Insurance Services Pty Ltd | ABN: 88 648 036 929 | CAR No: 413233

Authorised Representative of Webber Insurance Group Pty Ltd | AFSL: 488465 | ABN: 70 612 339 894 All rights reserved

Request Insurance Advice

Have a question or need advice from a qualified insurance broker?