What is Cyber Insurance?

Cyber Insurance is a form of insurance intended to protect businesses and individuals from internet related risks.

What does Cyber Insurance cover?

The insurance is designed to cover losses due to cyber-attacks or data breach from information technology infrastructure, information privacy and information governance liability.

It will protect your business to recover with costs that can include:

  • Client lawsuits and Legal fees
  • Business disruption
  • Revenue loss
  • Equipment damages
  • Public relations expenses due to defamation or loss of reputation
  • Forensic analysis
  • Costs associated with legally mandated notifications.

In a changing environment, cyber-attack insurance needs to be considered and it is recommended for any business that holds any type of electronic information, from client database to financial records and documentation.

Austbrokers’ Insurance Brokers can help you understand your risk and provide you with expert advice and tailored solution insurance options to best suit your needs. Find an Austbrokers Broker near you today!

 

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