What is Cyber Insurance?
With technology rapidly becoming more and more prominent in business, the amount and severity of cyber attacks is growing each year. It’s important to find an experienced Cyber Insurance Broker to set up the correct covers for your individual circumstances. Cyber attacks are one of the leading risks for businesses in Australia and Symantec has reported companies with less than 500 employees were most likely to be targeted.
Cyber attacks could leave you or your business exposed to costly expenses such as system restoration costs, crisis management costs, hefty fines from regulators and extortion costs. An incident can be as simple as attaching the wrong file to an email or more complicated such as an attack from a hacker resulting in loss of confidential customer information. Cyber insurance is a specialised insurance product, commonly sourced through a Cyber Insurance Broker and is designed to protect businesses against the costs incurred as a result of a cyber attack.
Cyber attacks are one of the leading risks for businesses in Australia