Cyber insurance protects businesses against the costs incurred as a result of a cyber attack and a business’ liability for a data breach in which personal information is exposed or stolen.
In todays world, technology is becoming increasingly crucial to the fast-paced, ever-evolving business world, and the internet is an enormous part of this. However, businesses that utilise technology to store information and also access the internet are exposed to risks such as data breaches, business interruptions, fraud and theft.
Unfortunately Australia is a prime target for cyber thieves given our high technology adoption rate and electronic payment preference. With 84% of Australian businesses being online, over 12,000 cyber attacks reported so far in 2017 (with the average attack costing $276,323), its imperative that you get your business covered today.