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Cyber Insurance

MM103000
Cyber is designed to help protect your business from the disruption and financial impact of computer hacking or a data breach.
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What is cyber protection insurance?

Providing business owners peace of mind and protection from the disruption and financial impact of cyber-attacks, such as computer hacking, extortion, ransomware or data theft.

Cyber in the health Sector

  • The Health industry is the highest reporting sector in Australia with a quarter of all recorded breaches.
  • Healthcare is an attractive target for cyber criminals because medical data is between ten and twenty times more lucrative than credit card or banking details.
  • Stolen health records can be sold to fund criminal activity and facilitate identity theft, blackmail and especially extortion.

What can it cover?

Cyber insurance can help cover financial losses to your business, your customers and other parties following a cyber security breach.

We can help you find the most suitable product that meets the needs of your business. Cover may include the following:

Type of cover

Potential benefits

First party losses

 

Business interruption losses

Covers financial loss you may suffer as a result of a cyber-attack.

Cyber extortion

The costs of a cyber-attack, such as hiring negotiation experts, covering extortion demands and prevention of future threats

Electronic data replacement

The costs of recovering or replacing your records and other business data.

Third party losses

 

Security and privacy liability

Damages to your reputation resulting from data breaches, such as loss of third party data held on your system.

Defense costs

Funds the legal costs of defending claims.

Regulatory breach liability

Covers legal expenses and the costs of fines arising from investigation by a government regulator.

Extra expenses

 

Crisis management expenses

Provides cover for the costs of managing a crisis caused by cyber hackers.

Notification and monitoring expenses

The costs of notifying customers of a security breach and monitoring their credit card details to prevent further attacks.

Obtaining a Quote

-           If you have a current insurance program please attach copies and completed pre renewals/proposals. 

-           Please confirm a time and a preferred method of contact.  E.g. phone, email.