Cyber Insurance

Cyber Insurance

There is no fee for us to compare your cyber insurances & not comparing may be costly.

What is cyber insurance

Cyber Insurance helps protect any business with an internet connection. A cyber-attack can have a crippling financial impact on businesses and their ability to continue to operate.

Every astute business owner insurers their business against insured perils such as fire, storm, malicious damage and theft, so ensuring your business is protected from hackers should also be a top priority.

Contact Newcastle Insurance Group today on 1300 62 80 80.

What To Do If Cyber Attacked

How you deal with a cyber-attack will depend on our business and your role.

An organisation with an IT department
You should have a Cyber Risk Management plan in place and employees should be aware of what steps to take if they notice any suspicious online activity.

A small business with an external IT resource
You should ask them whether they have a cyber risk management plan in place and you, and your employees should know what to do.

If the responsibility for a cyber-attack lies with you,
then there are a number of information resources available to you. Below we have listed some useful contacts you may wish to investigate.

How to report Cybercrime

If you or your business are a victim of a cybercrime, the first place you should report it to is the Australian Cyber Security Centre.

Australian Cyber Security Hotline
1300 292 371
Report cybercrime online at ReportCyber here

You should not use ReportCyber when:

  • There is a court order against the suspect or
  • You require assistance outside of business hours.

Instead, you should report it directly to the police by visiting your closest police station or calling your police station on 131 444.

How to report online abuse

The Office of eSafety Commissioner provides a platform to including cyberbullying, image-based abuse, and offensive and illegal content.

You can report online abuse here

Cyber Insurance Coverage Example:

Coverage under the policy can be triggered by the following events:

  • Crimeware
  • Cyber Espionage
  • Cyber Extortion
  • Denial of Service
  • Hacking
  • Insider and Privilege Misuse
  • Miscellaneuos Errors
  • Privacy Error
  • Payment Card Skimming
  • Physical Theft and Loss
  • Point of Sale (POS) Intrusion
  • Web App Attacks
  • 3rd Party Liability Claim
  • Credible Threat to your Infrastructure

Coverage Section A:

Losses to your Business Coverage provides these protections

  • Business Interruption – Impact on Business costs
  • Indemnity Period – 30 to 65 days
  • Waiting Period – 12 hours
  • Preventive Shutdown
  • Preventive Shutdown Allowance

Coverage Section B:

Loss To Others Defends and Indemnifies You against 3rd Party Liability Claims
  • Legal Expense
  • Defense Cost
  • Settlements/ Awards/ Damages
  • Civil Fines and Penalties
  • Mandatory Notices from Regulators (incl. the OAIC)
  • Multimedia Injury
  • Payment Card Industry Liability
  • Regulatory Fines and Penalties

Coverage Section C:

Cyber Event Response Costs covers these Responses
  • Credit and Identity Monitoring Costs
  • Cyber Extortion Costs / Ransomware Costs
  • Data Restoration Costs
  • Data Securing Costs
  • External Management Costs (Crisis Management)
  • Identity Theft Response Costs
  • Public Relations Costs
  • Pursuit Costs (reward for perpetrator’s arrest & conviction)
  • Virus Extraction Costs

A Few Other Selected Features of these Cyber Policies

  • Policy Limits – $250,000 to $20M
  • Excess – From $250
  • Territorial Limits – Worldwide
  • Security – 100% Lloyd’s
  • Claims & Response Teams (24/7/365) – Australia Based

Contact Newcastle Insurance Brokers

Call 1300 62 80 80 or fill in the form below and we’ll have someone call you back.

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Bundle Cyber Insurances & Save

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Speak With a Broker

If it’s really important you can speak to a broker 24/7. Call the 1300 number below.

Make a Claim

Making a claim is easy just click the button below or call the 1300 number.