Insurance brokers at Gallagher are observing a sharp increase in the number of cyber-attacks experienced by their clients.
And they are not alone. Each day, approximately 1.5 Australian businesses experience a data breach that is large enough that must be reported under the recent changes to the privacy legislation. It is no longer a case of if your business experiences a breach in cyber security, but when.
With the advent of the mandatory Notifiable Data Breaches (NDB) scheme on the 22nd of February 2018, Gallagher developed a helpful guide on best practices for keeping your business cyber safe:
• How the new NDB scheme might impact your business
• Downloadable PDF guide to breach reporting
Secondly, through their IT security partner SECMON1, Gallagher has made available content from a cyber security webinar that provides valuable insights to help you secure your business from the threat of cyber-attacks.
• Access a recording of the webinar here
It won’t prevent a cyber-attack, but cyber insurance is also an option. It can provide financial protection if your business does become victim. Premiums start from as little as $700 (subject to normal underwriting considerations) depending on the level of cover you choose.
Unfortunately, cyber threats look to be part of the ‘new normal’ for businesses of all sizes. If you need any further information on how to best protect your business, Gallagher is ready to assist all association members with practical advice on risk management and insurance options to help keep your family, and your business, cyber safe.