In today’s world businesses are relying more and more on technology. As a result incidences of cyber attacks are also increasing, thereby making Cyber Insurance even more important. Recent statistics show that around three in five Australian companies experience a cyber security breach each month.
Cyber insurance has been specifically designed to protect small businesses against these types of attacks. From computer hacking to ransomware or data theft.
Any business that has a website or electronic records is susceptible to a cyber attack or an accidental data breach. To rectify these can be a very costly exercise.
Cyber attacks and data breaches are not just limited to monetary values. They have the potential to threaten your intellectual property, your customers’ personal information, as well as the reputation of your company.
As with any policy there are exclusions. Check with us to further investigate excesses and limits on cover.