Cyber incidents are one of the leading risks for businesses in Australia.

According to the Ponemon Institute’s 2014 Cost of Data Breach Study: Australia, the average cost to a business per lost or stolen record in Australia is $145 per record.
The Australian Government estimates almost 700,000 businesses have experienced a cybercrime incident. 60% of all these attacks were targeted at small to medium size business with the average cost of a cybercrime attack being more than $275,000.

A cyber incident can be as simple and innocent as attaching the wrong file to an email or using an image on your website which has been copyrighted by another entity to more complicated situations such as a hacker attack and loss of customer information.
These can result in thousands of dollars in remediation costs, customer notification costs, hefty fines from regulators, extortion costs or being sued by customers or employees for loss of personal information as a result of a cyber incident
Our cyber insurance protects your business against cyber exposures that can impact your business from direct costs to your business, and claims from third parties. Costs associated with defending cyber claims are also covered.

INCLUDED PROTECTION

• Privacy Breach
• System Damage
• Business Interruption
• Computer Virus & Hacking
• Computer Crime
• Multimedia Liability
• Breach of E-commerce Statutory Duties
• Extortion
• Brand Protection
• Personal Protection
• Privacy Fines & Investigations
• Privacy Breach Notification & Loss Mitigation
• Reward Cover