Here is an astonishing prediction: According to the research firm Cybersecurity Ventures, the cost of cyber crime globally will exceed $6 trillion annually over the coming years. The Australian Cyber Security Centre (ACSC) stated in their recent Threat Report that they had identified 47,000 cyber incidents over the previous financial year.

The Small Business Cyber Security Best Practice Guide published by the Australian Small Business and Family Enterprise Ombudsman notes that small business is the target of 43% of all cyber crimes. Yet an astonishing 33% of businesses with fewer than 100 employees don’t take proactive measures against cyber security breaches and 87% of small businesses believe their business is safe from cyber attack because they use antivirus software alone.

ProRisk’s Cyber & Privacy Liability Insurance Policy is specifically designed to cover the cyber and privacy liability exposures of small to medium sized businesses.

Coverage Includes:

  • Cyber Incident Response Costs
  • Cyber Extortion and Ransom Payment Cover
  • Data and Application Restoration Costs
  • Cyber Crime, including Social Engineering Cover
  • Business Interruption Cover
  • Data Breach Investigation Costs
  • Privacy Statutory Liability Cover
  • Civil Liability Cover arising from a Cyber Incident
  • Options to tailor each policy to add or remove cover

ProRisk’s Cyber & Privacy Liability Insurance Policy is suitable for organisations with:

  • Up to $25m turnover
  • Up to 500 employees

Get a quote on ProBind today.

* This product is made up of two documents the Policy Wording and the GTC’s (General Terms and Conditions). They must be read in conjunction with each other and together form the contract of insurance along with the Policy Schedule, which is issued at the policy inception.