', 'auto'); ga('send', 'pageview');
Talk With Us
Peter Vickers Business Group logo
LET'S TALK
Search
JOIN
MENU

Tax



Let's Talk

Insurance



Quick Quote

Superannuation & Investment



Let's Talk

Accounting



Let's Talk

Home Blog Cyber Insurance and a risk based methodology go hand in hand to protect your business from threats.

Cyber Insurance and a risk based methodology go hand in hand to protect your business from threats.
By Peter Vickers Insurance Brokers | business, small business, Insurance, Cyber Security, cyber insurance |

Cyber Insurance, this is why you need it now! Cyber-attack is the biggest business risk in Australia, according to an annual World Economic Forum (WEF) survey of leaders. About 54% of local respondents listed cyber as the top danger. The survey findings were released ahead of the WEF’s inaugural Jobs Reset Summit on October 20-23.

Broker Marsh has urged Australian businesses against underestimating the ransomware threat, labelling the data-encryption malware as the “biggest threat” they face from cyber adversaries.

Ransomware attacks and extortion demands, which used to be in the sub-$1 million range, have risen to as high as $15 million. “It’s the biggest threat faced by corporate Australia at the moment,” Pacific Cyber Practice Leader Kelly Butler told insuranceNEWS.com.au. Read the full report here

While Insurance is just one strategy to protect your business, you can also adopt a risk-based methodology using the Australian Signals Directorate's Essential Eight framework .

So what can Cyber Insurance Cover? While you can’t always prevent a Cyber-attack, you can be protected against one. A Cyber Insurance Policy can cover you for expenses related to the following:  

  • Interrupted business
  • Hiring negotiators and paying a ransom
  • Recovering or replacing records or data
  • Liability and loss of third-party data
  • Defence of legal claims
  • Copyright infringement 
  • Misuse of intellectual property online
  • Crisis management and monitoring
  • Prevention of further attacks

It is important to remember that your Business Liability Insurance doesn’t cover you for a Cyber Attack or Data Breach. 

How we can help – We aim to bring you the best policy that supplements your current Business Insurance. Contact Peter Vickers Insurance Brokers today to discuss on 1300 784 011

TALK TO ONE OF OUR EXPERTS

Recent

TALK TO US FOR THE RIGHT ADVICE

Subscribe

Categories

SERVICES

SUBSCRIBE

Join our newsletter subscription

SYDNEY

Suite 2/345 Pacific Highway,
Lindfield, NSW 2070

T: 61 2 9496 2300
services@pva.com.au


Peter Vickers Insurance Brokers

Suite 2/345 Pacific Highway
Lindfield NSW 2070
T: 1300 784 011
enquiries@pvib.com.au

WINDSOR

Suite 3, 31 Brabyn Street
Windsor, NSW 2756
T: 61 2 4577 4455
windsoroffice@pva.com.au


Follow us on Social Media @pvbglindfield   

© Copyright 2021 VICKERS BUSINESS GROUP Pty Ltd | Our Privacy Policy

Follow us on Social Media @pvbglindfield    


Chartered Accountants:  Liability Limited by a Scheme under the Professional Standards Legislation - AFSL 229302  |  Peter Vickers & Associates Pty Ltd ACN 003466813 | Peter Vickers Insurance Brokers Pty Ltd AFSL 229302 ACL 229302 ACN 074 294 081
Peter Vickers Insurance Brokers is part of the Steadfast broker network.