Cyber Insurance
Contact Baynyi Ausure for your Cyber Insurance needs.
What is cyber insurance?
Cyber protection insurance is designed to help protect your business from the financial impact of computer hacking or a data breach.
Who should consider it?
If your business has a website or electronic records, you’re vulnerable to cyber hackers. In fact, it’s likely that your business will suffer a cyber attack at some stage.
A cyber attack could cost your business more than money. It could also threaten your intellectual property and put customers’ personal information at risk – which could damage your reputation.
What can it cover?
Cyber insurance policies vary in the benefits they provide, which may include cover against:
| Type of Cover | Potential Benefits |
|---|---|
|
First party losses |
|
|
Business interruption losses |
Covers financial loss you may suffer as a result of a cyber attack. |
|
Cyber extortion |
The costs of a cyber attack, such as hiring negotiation experts, covering extortion demands and prevention of future threats. |
|
Electronic data replacement |
The costs of recovering or replacing your records and other business data. |
|
Third party losses |
|
|
Security and privacy liability |
Damages resulting from data breaches, such as loss of third party data held on your system. |
|
Defence costs |
Funds the legal costs of defending claims. |
|
Regulatory breach liability |
Covers legal expenses and the costs of fines arising from investigation by a government regulator. |
|
Electronic media liability |
The costs of copyright infringement, defamation claims and misuse of certain types of intellectual property online. |
|
Extra expenses |
|
|
Crisis management expenses |
Provides cover for the costs of managing a crisis caused by cyber hackers. |
|
Notification and monitoring expenses |
The costs of notifying customers of a security breach, and monitoring their credit card details to prevent further attacks. |
What usually isn't covered?
Exclusions and the excess you need to pay can vary greatly depending on your insurer. Policies generally won’t include cover for:
- Damage to computer hardware.
- Criminal actions committed by you or your business.
- A cyber attack based on facts of which you were aware.
- Criminals using the internet to steal money from you.
INDUSTRIES WE SERVE
- Indigenous Corporations and Enterprises
- Local and State Government
- Construction & Infrastructure
- Health, Community, and Disability Services
- Education & Childcare
- Licensed Clubs & Sporting Organisations
- Agriculture & Land Councils
- Not-for-Profit and Social Enterprises
- Transport and Logistics
- Mining and Resources
- Manufacturing
- Professional Services
- Hospitality
- Real Estate and Property Development
- And many more
Speak to us about your Cyber Insurance Needs:
Contact Baynyi Ausure
Our Insurer Partners
Let us do all the hard work for you! We compare policies from multiple insurers to ensure you have the right policy, the right price and most importantly – the right coverage.
Let Baynyi Ausure help you with your Cyber Insurance needs.
Baynyi Ausure specialises in delivering tailored insurance and risk solutions for indigenous and non-indigenous businesses across a diverse range of sectors. . We are part of Australasia’s largest general insurance broker network, the Steadfast Group. We leverage Steadfast’s scale to ensure our clients have access to a wide range of insurance companies, a broad range of products, exclusive policy options, and of course, competitive pricing. And when the time comes and you need to make a claim, you will have the backing of Steadfast behind you.
