Cyber incidents can result in thousands of dollars in remediation costs, customer notification costs, hefty regulator fines, extortion costs, or being sued by customers or employees for the loss of personal information – and unfortunately small businesses are a favourite target of cyber criminals.
A cyber incident can be as simple and innocent as attaching the wrong file to an email or using an image on your website which has been copyrighted by another entity, to more complicated situations such as a hacker attack and loss of customer information.
Cyber Insurance – Cyber Defence – protects your business from the costs associated with these incidents.
Cyber Defence has a broad range of cover that can be tailored for the needs of small to medium sized businesses, including:
- Claims against you for privacy breach and loss of employee, personal or corporate information
- Loss or damage to your IT systems, records and data
- Business interruption arising from a cyber event
- Liability arising from a hacker attack or virus
- Brand and personal reputation protection
- Copyright and trademark infringement
- Costs of negotiating and mediating due to an extortion attempt
- Breach of statutory duties
- Fines and penalties incurred due to a privacy breach, as well as cover for your defence and investigation costs