Cyber Insurance

well the dust seems to have settled on the 'Wannacry' and 'Petya" attacks with little effect on Australian business.

the risk you face from cyber attacks has certainly not abated.  the graphic above released by the Australian Government involves data from 2014.  as concerning as the figures are, there can be no doubt that current statistics would be far worse, and that many losses currently go unreported.  the real picture is undoubtedly much more serious than the image shows.

something you may have missed is the new mandatory data breach regime.  What is it you say?  new legislation that requires businesses to report any suspected data breach to the Government and anyone whose data may have been effected.

so imagine your business suspects that data has been breached.  how do you go about telling your customers, without ruining your reputation?  if you don't report the breach you will be liable to hefty fines (up to $1.8M for a Company!).

what if you are the victim of ransomware?  how do you know if you should pay the ransom?  who do you turn to for help?  will your local IT guy have the expertise to deal with it?  how much will it cost to restore your system and data?

fortunately there is an affordable solution.  Cyber Insurance.
austbrokers central coast have investigated the market and can provide cost effective solutions for small business.

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