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Cyber Insurance

Slide 2
Cyber Insurance

Cyber insurance can be complex, LML insurance are experts in all tailor-made insurance plans and will help get you the right cover for your needs.

Cyber Insurance

Cyber risk is one of the leading risks for Australian small to mid-sized businesses, with companies employing between 1-250 people the most at risk.

In response, cyber insurance has now been developed for small and medium businesses to help manage against this risk.

Cyber insurance is designed to meet any material cyber risks facing your business directly or indirectly through a third party. It will also cover you if someone tries to commit fraud by falsely claiming your company was at fault because of alleged failures in security.

A cyber incident can be as simple and innocent as attaching the wrong file to an email or opening an attachment that has a virus to more complicated situations such as a hacker attack and loss of customer information.

The policy is likely to cover your business against:

  • Claims against you for privacy breach and loss of employee, personal or corporate information
  • Loss or damage to your IT systems, records and data
  • Business interruption arising from a cyber event
  • Liability arising from a hacker attack or virus
  • Brand and personal reputation protection
  • Copyright and trademark infringement
  • Costs of negotiating and mediating due to an extortion attempt
  • Breach of statutory duties
  • Fines and penalties incurred due to a privacy breach, as well as cover for your defence and investigation costs

We are committed to making life easier for small and medium business owners with insurance that’s easy to understand, buy and manage. If you’re a small business owner, your job is anything but small, so when it comes to protecting your business with the right cover, it helps to have an expert on your side.

If you would like to find out more about how cyber insurance can help your business, please give us a call on (08) 6383 2000 or drop by our office for a chat. 

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