Cyber and Privacy Protection Insurance
Cyber attacks and breaches of privacy are commonplace these days with businesses and organisations of all types and sizes at risk. Cyber and Privacy Protection Insurance can help protect businesses from the financial impact of a cyber-attack or a privacy breach. Cyber and privacy protection insurance covers costs associated with unauthorised use or access to data and potential network interruption caused by a cyber event (as defined in the policy).
Cyber policies are not all created equal, and you need to ensure that you are covered for the things that matter if you ever need to make a claim. Our specially crafted cyber insurance policy provides the necessary first and third party coverage to ensure your business is best protected at the time of a cyber incident. The areas of coverage include, but are not limited too:
First Party Cover
- Crisis Management Expenses – including notification expenses, legal costs, forensic IT expenses, public relations and credit monitoring expenses.
- Data Recovery Expenses – costs associated with replacing, restoring and recollecting data.
- Business Interruption Expenses – loss of business income due to a cyber event.
- Data Extortion Cover – costs associated with ransomware events.
Third Party Cover
- Security & Privacy Liability – defending claims from third parties, including claim settlements.
- Regulatory Costs – investigations and resultant fines and penalties issued by regulators.
- Multimedia Liability – costs associated with copyright and libel/slander type claims.
Cyber Insurance coverage varies among different providers. Please refer to the relevant Product Disclosure Statement (PDS), to ensure you understand your coverage.
For more information on Cyber and Privacy Protection Insurance contact the IPA Insure team on 1300 413 143 or email [email protected].
To find out more about IPA Insure head to www.ipainsure.com.au/.
AB Phillips Pty Ltd T/as IPA Insure (ABN 91 007 075 934 | AFSL 234457)
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