Data Security
Expenses related to cyber extortion or terrorism such as theft of hardware, destruction of data stored on any computer system or theft of access codes from premises, computer system or by employees.
Cyber Liability
Data is everywhere. It’s all around us. We collect it. We analyse. We leverage it. It’s the currency of modern business. And it guides all our key decisions. Without it, everything grinds to a halt.
Cyber Liability Insurance can help you recognise and protect the value of your data so you can grow your organisation with confidence.
Regardless of how good your company IT systems are, there is no 100% guaranteed way to protect your data. What’s more, a data breach will not only affect your business, it can negatively impact your clients and customers.
Stolen credit card numbers, financial reports, medical records, birth dates and the loss of sensitive personal data can leave you liable and exposed, causing enormous damage to your bottom line and your reputation.
Recent changes to the Privacy Act now place even greater onus on Australian businesses to ensure the security of private data – with hefty penalties in place for privacy act breaches.
Traditional insurance policies do not cover cyber attacks. That’s why you need a dedicated Cyber Insurance Policy.
A Cyber Liability Insurance policy sourced by Whitbread gives your company an additional layer of protection.
We empower you with comprehensive cover for all types of scenarios so you can continue to thrive in today’s data driven business environment.
Who needs cyber insurance? Unbranded from NIBATV on Vimeo.
Please Note: Below are some of the more common insurance policy features, however, the list is not exhaustive and some features may not be offered by certain insurers. Please refer to the insurer-specific policy wording for inclusions, exclusions, terms and conditions.
Covered Features
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Privacy Breach
Costs associated with a privacy breach including consumer notification and costs of providing credit monitoring services to affected customers.
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Reputational Repair
Reimbursement of costs incurred in relation to reputational damage, libel, slander, defamation and invasion of privacy.
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Network Interruption
Cover for net income that would have been earned and continuing normal operating expenses incurred including payroll as a result of security failure.
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Fines and Penalties
Costs incurred due to fines or penalties imposed by government or regulatory authorities for a breach of data protection laws.
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Defence Costs
Costs for legal advice and representation in connection with formal investigations by authorities.
