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Cyber insurance: a vital protection for businesses!
Technology is essential for the success of any business in today’s world. But it also comes with risks. Cyber attacks are becoming more frequent and more damaging. Every month, about 60% of Australian businesses suffer a cyber security breach!
That’s why cyber insurance is so important. It can help you recover from online threats, such as hackers, ransomware or data theft. Cyber insurance can cover the costs of restoring your systems, notifying your customers, and paying any legal fees or fines.
Find more information about Cyber Insurance here.
What does Cyber Insurance cover?
Cyber security breaches can cause serious financial damage to your business and your customers. You may have to pay for the costs of fixing your systems, notifying your customers, and dealing with any legal or regulatory issues. This might include costs associated with:
Who should consider Cyber Insurance?
If your business uses a website or electronic records, you are exposed to cyber risks. Hackers, malware, or human errors can compromise your data and systems. The impact of a cyber incident can be devastating for your business.
You may have to pay for ransoms, IT repairs, breach notifications, legal actions, and customer compensation. These costs can add up quickly and affect your cash flow and profitability.
But the financial loss is not the only thing you have to worry about. A cyber incident can also harm your intellectual property, your customer’s privacy, and your business reputation. You may lose the trust and loyalty of your customers and partners.
That’s why you need Cyber Insurance. It can help you recover from cyber threats and protect your business assets.
Steps to get you covered
Get in Touch
The dedicated team of specialists at CPS will assist you on a wide range of personal and commercial insurance products. Phone 02 9493 7999, email info@cpsgeneral.com.au or send enquiry form.
Whether you need guidance on policies, coverage specifics or just some friendly advice for your business, we are here to simplify the process and are committed to understanding your needs.
We have a range of products to help you, including:
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