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With Cyber Crime in Australia escalating in frequency, complexity and scope, the need for businesses to consider insuring against these risks is increasing.
Every business that has a website or electronic records is vulnerable to cybercrime or an accidental data breach – and the consequences of a cyber-incident can be very costly which may lead to
• Loss of reputation
• Customers personal information at risk
• Loss of intellectual property
The cost of Cyber Crime costing Australia businesses $29 billion annually and has been estimated that by 2025 globally will have increased to approximately $10.5 trillion.
Cyber Insurance can cover
• Loss of Revenue from the interruption to your business from a cyber attack
• Costs involved in recovering or replacing your data
• Defence of legal costs
• Costs associated with investigation by government regulators
To obtain a recommendation for your Cyber & Privacy Liability, contact us