If you rely on the internet, email, websites or computer software to operate your business then your current insurance does not cover you for one of the most important aspects of your business: your data.
PSC Connect Authorised Representatives specialise in Cyber Insurance. We have access to a suite of specialist insurance policies to cover you and your business against cyber crime and the new data privacy legislation.
Over 20% of Australian organisations suffered from a Cyber Crime in 2012 (Source: 2012 Cyber Crime and Security Report, CERT Australia).
Through our underwriting partners, we have arranged specialist cyber insurance policies designed to address the exposures you face from relying on the internet, email, websites, or computer programs, data and from storing private information about your clients.
New Privacy Legislation
A new Privacy Act has come into effect from 12 March 2014, which will see the Privacy Commissioner with enhanced enforcement powers. These powers include the ability to award penalties of up $1.7million for corporations that have breached the Act. PSC Connect Authorised Representatives insurance policies have provision to cover for privacy breaches and other issues associated with protecting your customer data.
Privacy Protection & Cyber Insurance
These specific insurance products cover the key elements that businesses now face using and protecting their data and utilising digital media and communications. These include:
- Privacy Protection – Third party claims from a failure to keep data secure.
- Breach Costs – Reimbursement of your own costs when a data breach occurs.
- Business Interruption – Compensation for lost or reduced revenue.
- Cyber Liability – Third party claims as a result of content in email, on the intranet, extranet or website.
- Hacker Damage – Reimbursement for costs to repair, replace or restore systems and data as a result of a hack.
- Cyber Extortion – Payment of ransom demands, and specialist consultant fees, where a hacker holds, or threatens your network, programs or data.
Our experienced PSC Connect Authorised Representatives can help you get the right cyber insurance cover by assessing your specific needs and recommending the best value insurance solution for your business, whilst still maintaining the highest standard of cover.