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Cyber Insurance Quote Form

Limit of Liability

Company Details

Do you process, transmit or store more than 10,000 financial transactions per year?

Yes No, less than 10,000

Do you use and keep up to date firewalls and anti-virus protection for all systems?

Yes No

Do you use third parties to complete audits of your system and security on a regular basis?

Yes NO

Are all portable devices password protected? (mobile phones, laptops, tablets, etc)

Yes No

Do you have encryption requirements for all data including portable media?

Yes No

Do you have back-up and recovery procedures for business critical systems, data and info assets?

Yes No

Do you outsource any part of your network, including storage?

Yes, we use third party providers. No, all managed in house

Do you store sensitive information on web servers?

Yes No

Do you know of any loss payments, fines or penalties being made on your behalf?

Yes No

Are you aware of any matter which might give rise to a claim or loss under such insurance?

Yes No

Have you suffered any loss or claim but not limited to a regulatory, governmental or administrative action brought against you, or any investigation or information request concerning any handling of personal info?

Yes No

The applicant or any subsidiaries have any knowledge of any loss payments, fines or penalties being made on behalf of any applicant or any person proposed for coverage any cyber policy or similar insurance?

Yes No
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Business Insurance Quote

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Sections

Property & Contents

Yes, please quote No, thank you

Public & Products Liability

Yes, please quote No, thank you

Cyber Liability

Yes, please quote No, thank you

Theft & Money

Yes, please quote No, thank you

Computers & electronic equipment

Yes, please quote No, thank you

Business Interruption

Yes, please quote No, thank you

Machinery Breakdown

Yes, please quote No, thank you
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1 year ago · by · 0 comments

How Much Does Cyber Insurance Cost?

Public awareness continues to slowly increase with reports of major data breaches and cyber attacks. As a result, a large number of Australian business owners are looking at cyber insurance to mitigate the high costs involved with a data breach or cyber crime.

The number one question we are asked when discussing cyber insurance is how much does cyber insurance cost? followed by, what does cyber insurance cover?. Often times the cost of the policy is a greater factor on whether to purchase a policy than the policy coverage itself.

Many business owners are hesitant to add another insurance cost to their existing expenses, especially if they have not had any direct impacts from a cyber attack.

 

Cyber Security Insurance Broker

A few important variables which can influence your cyber liability insurance cost:

The Limit of Liability – The higher the policy limit required, the higher your policy cost will be.

Security measures in place – A major factor is the security systems and procedures in place. A business with regular backups, employee security training and encryption requirements will have a better overall risk exposure than a business which doesn’t.

Staff numbers –  Staff size is a good way to get a broad idea of the amount of information and access points a company may have. Internal threats from employees are one of the largest causes of cyber crime.

Unique risks for your business –Depending on the nature of your business, you may face a higher level of risk than another business. For example, a medical clinic which holds sensitive information or a business with valuable third-party intellectual property may attract a higher premium.

Optional extras – Some insurers offer additional cover for phishing and cyber theft which come with an additional premium. These risks, although in a digital form are normally excluded.

How much could a cyber attack cost my business?

According to the Australian government, the average cost for a cyber attack is $276,323 and 50% of that cost is spent on detection and recovery.

The average time to resolve an attack is 23 days which is increased to 51 days if the attack was a malicious insider, employee or contractor.

A massive 40% of the impact on a business is due to business interruption with data loss coming in at 29%.

Could your business survive the costs and interruptions lasting 23 days or more?

 

More info about cyber liability insurance

How to choose the right cyber insurance policy?

The Importance of a Cyber-Savvy Adviser

Who needs cyber liability insurance?

 

 

Contact us today!

 

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Company information

Naga Risk Solutions Pty Ltd T/as Cyber Insurance Australia ABN 59 378 032 992. CAR 1250594

Authorised Representative for National Advisor Services Pty Ltd t/as Community Broker Network (CBN) ABN 60 096 916 184 | AFSL 233750

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Contact details

E-mail address:
contact@cyberinsuranceaustralia.com.au

1300 GOCYBER

1300 462 923

Available 8:30am - 5:00pm

PO Box 1677, Milton LPO
Milton
Brisbane, QLD 4064

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