Cyber Insurance for Business

 

Cybercrime is no longer the domain of a few rogue individuals; it’s big business.

Today’s commercial world is constantly threatened by cyber breaches.  The scope and scale of threats increases exponentially each year so every company needs to be vigilant in their approach to network security.

Threats include:

  • Malware such as ransomware being introduced accidentally or deliberately into a computer network
  • Staff being targeted by phishing attacks seeking to compromise confidential data or commit fraud and steal money
  • Loss of use of your network as a result of DDoS attacks
  • Breaches of privacy through loss of confidential data that can be accidental (employee error) or deliberate (hacker attack)

Statistics show us that the rate of cyber incidents in New Zealand is increasing and the threats are not just limited to large organisations.  Any company, irrespective of size, occupation or location is vulnerable to a cyber incident or cyber crime.

The financial impact on a business can be significant and in many cases it will not be covered by a traditional insurance programme.

Cyber insurance is now readily available in the New Zealand market place for any size business.

A key benefit of all Cyber insurance policies is access to a panel of professionals who are available to provide 24/7 reaction to a cyber breach or event.  Following an incident the policyholder is provided with experts in data recovery, forensic engineering, crisis management, public relations and legal advice.

The process to apply for insurance has, in many cases, been simplified; and, with a large number of insurers competing for business in the market place, the cost of insurance is reasonable and the coverage comprehensive and broad.

Cyber insurance is relevant to any business in today’s environment.  For complex businesses with special requirements, bespoke insurance solutions can be arranged.  For more straightforward exposures, there is a range of ready to go products available.

Would you know where to turn if struck by a cyber incident today?

Click here to read our e-brochure.

Contact us for a quote…. ph 0800 276 624 or

Make an enquiry and one of our brokers will contact you.

 

 

Important Information The information on this website is only intended to provide a general summary or introduction to a product, offering or service.  Any decision to purchase this product should be based on specific advice for your business or personal needs.  For further information on this product, offering or service please speak to your broker.