1. Complements your IT Security
You have to protect your business by having a strong IT security posture in place and if you haven’t you should use your IT security adviser to assist you. Cyber Insurance complements security by providing cover for the financial cost you would otherwise incur if you suffer a cyber breach or threat despite your preventative measures.
2. Social Engineering is Australia’s fastest growing threat
Employees are contacted by criminals who use sophisticated tactics to impersonate a trusted party or person. They then use emotional triggers to elicit an action by the employee which usually results in a direct financial loss. Put simply; they gain trust, trick staff and have them transfer large amounts of money out of the business.
3. Protects your revenue
Whilst you understand and rectify the cyber breach or threat, very often your ability to trade is diminished. Cyber insurance protects your revenue, reimbursing you so that you’re not worse off as result of the incident.
4. Legal Protection
Your company could face legal action from third parties for various reasons including allegations you failed to properly protect their sensitive data or due to the inability of others to access data on your system due to a breach. Cyber insurance covers damages, defence costs and regulatory fines.
5. Expert help if you’re attacked
Cyber attacks are stressful and there is a lot to manage. Quality cyber insurance solutions include Emergency Response capability for you to access 24/7. This provides you with legal, IT security & forensic and public relations support. In your hour of need, these experienced specialists will work with Complete PC Solutions to get your business back up and running.
6. Business insurance policies don’t cover cyber risk
Your business package insurance policy doesn’t cover cyber risks and will leave you uninsured if you suffer a loss. You should consider stand-alone cyber insurance from a specialist provider
Level 3, 3 Bowen Crescent, Melbourne VIC 3004 (HQ)
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