Cyber Insurance
Why Your Business Needs Cyber Insurance
Businesses rely on digital platforms and technologies in their day-to-day operations, but increasingly, these platforms are vulnerable to disruption. Hacking and cyberattacks occur on a regular basis, putting your business at risk of losing sensitive data, compromising your IP, disrupting your business activities, and causing significant financial losses.
That’s why the best way to tackle cyberattacks is to pre-empt them, by investing in cyber insurance. Cyber insurance minimises the impact of cyberattacks and safeguards financial loss and claims liability for any breach of data privacy. After all, businesses may be liable for fines up to
$1.8 million for breach of data privacy since the Notifiable Data Breaches (NDB) scheme was enacted in Australia
in February 2018.
Cyber insurance helps businesses that have fallen prey to cyberattacks by providing indemnity for:
- Data restoration expenses
- Revenue loss recovery
- Business procedure interruption claim
- Crisis response (crisis response, ransom/blackmail payout, breach coach, PR costs, forensic expert costs).
- Liability (regulatory fines, media liability, legal defence, and payouts), and
Why Get Cyber Insurance From Aspect SME Insurance?
Crisis management:
The cyber insurance we offer doesn’t just cover financial protection; we also connect you with a team
of IT experts, legal experts, and PR professionals who will assist in your business operations within
24 hours of a cyberattack.
We are familiar with the many risks of cyberattacks, and we offer free custom quotes to suit businesses’ different needs. Our insurers have excellent relationships with underwriters in London and
Australia and can provide the right cyber insurance for your business.
Get in touch with us today.