Cyber Insurance
Cyber insurance is a fairly new form of cover, designed in response to the growing costs of data breaches and hacking to SMEs. The frequency and severity of cyber threats to Aussie business are increasing. Protect your business from digital breaches with cyber insurance.
The resource of choice for the country’s most forward-thinking insurance professionals.
The resource of choice for the country’s most forward-thinking insurance professionals.
Cyber Insurance
Rely on a reputable insurance broker
What is Cyber Insurance?
Cyber insurance is a fairly new form of cover, designed in response to the growing costs of data breaches and hacking to SMEs.
The Australian Cyber Security Centre has some great guides to cyber-security for businesses. In this day and age, especially with the growth of cyber threats, it’s important for your security and data protocols to be adequate.
Most businesses have websites that are vulnerable to cyber-attacks. Even if you don’t have a website, almost every business uses some form of accounting or cloud-based software (think MYOB, Xero, Microsoft 365, etc.). These are all vulnerabilities.
What can be covered
- Legal defence costs
- Loss of income after a cyber event
- Third-party notification costs
- Extortion & ransom costs
- Restoration & investigation
- Public relations
- Accidental copyright infringements
What may not be
- Deliberate or intentional acts
- Physical damage to computer equipment
- Losses from power surge or infrastructure fault
- Failure to comply with PCI DSS requirements
Get started with cyber insurance
Enjoy the peace of mind of cyber protection - Get your quote today.
Cyber Insurance Claim Example
Damon is the practice manager for a small dental clinic. One of their staff clicks on a link within an email, and accidentally downloads malware which locks the entire practice network down, and requires $50,000 ransom to be paid in Bitcoin to unlock it.
Damon contacts the emergency cyber response line for their cyber insurance policy who immediately appoint a specialist to come and evaluate the situation. The specialist authorises payment of the $50,000 ransom, and fortunately – the system can be unlocked.
The downtime for the practice was less than 1 business day, but Damon was able to rest easy knowing that if the unlock was unsuccessful, the practice’s lost income would have been reimbursed while they tried to restore/recover their data.
Why Choose CIB?
Consolidated Insurance Brokers can help by placing you with the best policy for your needs. We’ll find you the most competitive rate possible, and offer advice to ensure your insurance protects what matters.
Our Expertise
Committed to finding you the best insurance solution, our team of knowledgeable insurance brokers will get you the best price available
Your Partner
Safe time and effort by letting our team of expert insurance brokers do the work for you, we can manage your insurance on your behalf.
Clear Terms
We will put an end to the endless jargon, we can help you understand your quotes and policies in clear terms.
Full Cover
We are able to access insurance policies that are not available when buying direct, allowing us to get you a more comprehensive cover and better benefits.
What our clients have to say
109 James Street, New Farm
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Lyn was kind, caring and professional from the minute we started talking. I needed a broker because of extenuating circumstance and she was able to find the right insurer who also understood. I’m now rusted on. I highly … More recommend Lyn Schumann 🙂
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Clayton Rowlings from Consolidated was a pleasure to work with and got me the best car insurance deal in the market by far. His high level of service was impressive and he stayed in touch with me in assistance for nearly … More 1 year while I was deciding what to buy. He was very attentive and super helpful at each step of the way, which made navigating this insurance process easy to understand and finalise. Thanks again, Clayton - highly recommend!
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Tracey was extremely great to deal with and was so helpful in helping us find insurance for our business. But not only find insurance, got us the best possible outcome for our business. Other brokers were just in it for their … More pay day, Tracey was in it to get the best deal for us. She listened to us and about our business so she understood exactly what we were after.If you are looking for any kind of insurance, I highly recommend dealing with Tracey as she will help you find the best possible outcome.
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I have had the pleasure of dealing with Alison from consolidated insurance brokers. And from the start to the end Alison has shown a very high level of professional and work ethic. Alison kept me in the loop regularly and … More was extremely reliable with fast information and great service. Thank you.
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I highly recommend the team at Consolidated Insurance Brokers. I initially dealt with Tracey, but I also got the opportunity to work with William along the way too - both were super knowledgeable, supportive and patient while … More I registered my new business.As a startup, they also provided the guidance needed to get the appropriate level of coverage.I would highly recommend anyone starting their business to speak with either William or Tracey at Consolidated Insurance Brokers!
How can we help?
With access to a range of quality insurers, and policies not available to the public, we can offer you a range of competitive cyber liability insurance quotes.
We’ll help you compare the price with the coverage offered for each, so you can make the best decision for your needs. For every new business quote and renewal, we break down all important changes and comparisons for you in plain English.
Say goodbye to the uncertainty of not knowing when — or if — you’re covered, and enjoy the peace of mind of cyber protection.
Frequently Asked Questions
There are many benefits of using a broker over buying directly from the insurer. Insurance brokers:
- Work on your behalf to secure you better protection through their negotiating power
- Help you understand your risks and empower you to make better life / business decisions
- Ensure insurers are held accountable to their promise to protect what you value during claims
- Save you time and money by taking care of comparing and customising policies for your needs
No Obligations, Completely Free
Get a Quote Today
Talk today with our team to find the right kind of insurance that will suit your needs.
