Cyber Insurance

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Cyber security threats are on the rise, and all business no matter how big or small can fall victim as cyber criminals become increasingly more sophisticated.

Cyber insurance can cover you for financial losses caused by cyber attacks, data breaches and other digital threats. Cover can also include legal costs that may arise.

A cyber attack could cost your business more than just money. It could also threaten your intellectual property and reputation, should your customers’ personal information be put at risk.

What does a Cyber policy cover?

Cyber insurance policies vary in the benefits they provide. Your insurance broker can help you find the most suitable product that meets the needs of your business. To give you an idea, here’s the type of cover that your policy may include:
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.
• Defence 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.
• Electronic media liability: The costs of copyright infringement, defamation claims and misuse of certain types of intellectual property online.
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.

Flexible insurance with a local touch

Insurance isn’t always a one size fits all policy. Whether you’re in manufacturing, food and beverage, hospitality, property owner, tradie or truckie, we’re here to help structure your insurance program to suit.
The right cover for you
Tailored insurance programs to suit your business risks, whatever your business, wherever you operate.
Support from an expert
Highly trained insurance professionals to help you identify risks, manage your insurance program and support you with claims.
Friendly, local service
With 16 offices across Queensland and a national reach, you have access to support when you need it.

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