Cyber Cover Plus is a member of the Steadfast Group

The largest insurance broker network in Australia and New Zealand.

Our Insurance Partners

Cyber Cover Plus has forged enduring alliances with prominent financial institutions in Australia. We take pride in collaborating with organisations that align with our values and share our dedication to creating a safer world.

Why do you need cyber insurance?

Despite implementing the latest security measures, organisations are still susceptible to cyber-attacks. These attacks, also known as “data breaches,” can compromise sensitive information such as passwords, social security numbers, and proprietary work, making data one of the most valuable and exposed assets for any organisation.

To assist companies in managing and reducing their risk of security breaches, cyber insurance plays a vital role. It helps assess and mitigate the potential impact of a security breach, providing protection against litigation and safeguarding the organisation’s reputation in the event of an attack.

The aftermath of cyber incidents

Cyber incidents can have far-reaching financial consequences, entailing significant costs for remediation, customer notifications, regulatory fines, extortion fees, and potential legal repercussions from affected customers or employees due to compromised personal information. Unfortunately, small businesses frequently become prime targets for cybercriminals.

What does our cyber insurance cover?

Cyber Cover Plus offers a comprehensive selection of coverage options specifically designed to meet the requirements of small to medium-sized businesses. Our tailored policies encompass various aspects, including:

  • Protection against claims arising from privacy breaches and the loss of employee, personal, or corporate information
  • Coverage for losses or damages to your IT systems, records, and data
  • Safeguarding against business interruptions resulting from cyber events
  • Liability coverage for hacker attacks or viruses
  • Shielding your brand and personal reputation
  • Coverage for copyright and trademark infringement
  • Assistance with negotiation and mediation expenses in the event of an extortion attempt
  • Coverage for breach of statutory duties
  • Protection against fines and penalties incurred due to privacy breaches, along with coverage for defense and investigation costs

With Cyber Cover Plus, you can rest assured knowing that your business is equipped with comprehensive protection against a wide range of cyber risks.

Potential threats and attacks

Cyber incidents encompass a wide range of potential threats and attacks in the digital realm. Without appropriate defences, your are exposed to real and growing dangers.

Some of the main cyber incidents include:

Phishing Attacks

Attackers deceive individuals with deceptive emails, messages, or websites to obtain sensitive information like login credentials or financial details.

Ransomware

Malicious software encrypts data on systems, demanding a ransom for access. Small businesses are often targeted due to perceived vulnerability.

Data Breaches

Unauthorised access to customer data or intellectual property can result from weak security practices, causing financial and reputational harm.

Social Engineering

Manipulating individuals through impersonation or psychological tactics to gain unauthorised access to systems or sensitive information.

Insider Threats

Internal employees or contractors may compromise security, steal data, or cause damage, posing a risk to the organisation.

DDoS Attacks

Overwhelming a system or network with excessive traffic, DDoS attacks disrupt services and render them unavailable to legitimate users.

Third-Party Software

Reliance on inadequately maintained or updated third-party software and services introduces security vulnerabilities for SMBs.

Human Error

Insufficient cybersecurity awareness among employees can lead to accidental data disclosure or falling victim to social engineering attacks.