Five tips to protect against ransomware attacks

Ransomware attacks are one of the most common forms of cyber attack in Australia. How can you protect your business?

Ransomware hackers steal businesses’ files and demand ransom payments to get them back. The attacks can be devastating financially for companies that are not prepared.

For example, the WannaCry attack hit 200,000 victims in 150 countries.

If you run a business, follow these five tips to safeguard yourself and your business against such attacks.

1. Update your software

Pay close attention to the software you use. Emergence Insurance recommends you alway accepting options to update or patch your operating system and other key applications immediately updates are available. Updates are often designed to strengthen cyber security.

2. Install antivirus software

Regular software updates alone do not ensure your systems are protected. Viruses are still a threat because they constantly evolve. Guard against them by running a reputable antivirus tool and remember to update your software immediately when updates are available.

3. Use common sense on the internet

Be smart about not exposing yourself to cyber attacks. Think before you click on unfamiliar links and don’t open strange email attachments. Delete all emails that look suspicious.

4. Backup your files often 

Create backups of all your files often. It’s a simple, effective way to ensure that if ransomware thieves steal your files and hold them hostage, the thieves have no leverage against you.

5. Develop a cyber security plan

Develop a long-term plan to strengthen your business’s cyber security. It should include educating your employees; upgrading hardware and software; building a business continuity plan; and buying cyber insurance protection to safeguard your business financially in the event of a cyber attack.

 

Source

Emergence Insurance

Emergence Insurance is here to protect all businesses – large and small – against cyber risks. In fact, that’s all we do, so we’re the specialists in the field.

 

Please note Cyberliabilitycomparison.com.au Insurance News is an information service sometimes provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

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Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

Kochie’s Business Builders Explains Cyber Insurance

Kochie's Business Builders

Kochie’s Business Builders Explains Cyber Insurance

To help explain cyber insurance, Steadfast have partnered with Kochie’s Business Builders to produce this short explainer video.

30% of small businesses in Australia experiencing a cybercrime incident

Most cyber attacks are caused by human error the average cost of business was a huge $276,000 in 2015 with over 30% of small businesses in Australia experiencing a cybercrime incident

Why do I need 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.
Kochie's Business Builders
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

Compare Cyber Insurance Quotes from leading Australian Insurers like AIG, Allianz, Brooklyn Underwriting, CGU, Chubb, Dual, Emergence and Zurich.

 

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Please note Cyberliabilitycomparison.com.au Insurance News is an information service sometimes provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

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Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on the inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

Cyber Insurance Know Cyber Risk

Cyber Risk

cyber-risk

Cyber Insurance Know Cyber Risk

We live in a modern, connected world and from our computers at work, to our laptops, tablets, phones and even our TVs, we’re vulnerable online.

While it’s easy to think you would never be the victim of a cyber-attack, studies are showing that it is happening more and more every day, which is why we’ve put together these resources on how you can protect yourself, your family and even your business online.

Trolls and Trojans – thievery in the digital age

In the vast world of the online there are things you need to do to keep your information safe.

Cyber Insurance

Did you know that almost seventy per cent of Australian businesses have experienced a cyber-attack in the last 12 months? With technology being so important to the way we work and with more attacks predicted in the near future, cyber insurance isn’t just a nice-to-have, it’s a necessity.

Cyber insurance for small businesses

Information for small business owners on cyber risk and cyber insurance.

Privacy and your business

Some information on how the new Privacy Act will affect your business.

5 ways to protect yourself online

Some helpful hints to protect your personal information when online.

7 Ways to hack proof your password

Here are seven tips on how to make your internet passwords stronger.

Learn how to keep track of your digital footprint

Information on how to protect yourself online.

Don’t put up with cyberbullying

Info on how to beat the cyber bullies.

How can you keep your kids safe online?

Information on how to keep your children safe from online predators.

10 Silly things people do with their smartphones

How many silly things do you do with your smartphone?

BYOD is not just a BBQ buster

Tips on how to prevent security issues with your mobile device.

Five tips to protect yourself from webcam hackers

Stop hackers from breaking into your home while not even there.

Social media – it’s harmless…right?

The pitfalls of social media, and how you should protect your privacy.

Cyber Security. Evolved.

This short video highlights how in less than 300 seconds you can experience the speed and intensity of a cyber attack.

Other resources cyber risk

Find more information on cyber security at:

Source knowrisk.com.au

Do you need to know more about Cyber Insurance speak to one of Insure 247’s brokers on 1300 046 787

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Cyber Risk

Please note Cyberliabilitycomparison.com.au Insurance News is an information service sometimes provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Compare Australian Cyber Insurers

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

Cyber Claim Scenario – Denial of Service Attack

Cyber Claim Scenario – Denial of Service Attack (DoS attack)

In January 2012, Australia’s second-biggest online broking business, ANZ Bank’s ETrade, was forced to shut down over the New Year period by a denial of service attack launched from overseas. Following the attack, access to the site was unavailable for some customers for nearly two weeks

Former Woodside Petroleum CEO Don Voelte warned in 2011 that cyber attacks were a major concern and that the company had been attacked “from everywhere”, particularly Eastern Europe, Russia and China.

Cyber Insurance

What is a Denial of Service Attack?

A denial of service (DoS) attack is an incident in which a user or organization is deprived of the services of a resource they would normally expect to have. In a distributed denial-of-service, large numbers of compromised systems (sometimes called a botnet) attack a single target.

Although a DoS attack does not usually result in the theft of information or other security loss, it can cost the target person or company a great deal of time and money.

Typically, the loss of service is the inability of a particular network service, such as e-mail, to be available or the temporary loss of all network connectivity and services.

A denial of service attack can also destroy programming and files in affected computer systems.

In some cases, DoS attacks have forced Web sites accessed by millions of people to temporarily cease operation.

Can you insurer against a Denial of Service Attack?

Some insurers offer Cyber Insurance to cover Denial of Service Attack.

However it’s not a in all policies, if your unsure speak to one of Insure 247’s brokers on 1300 046 787

Source AIG

 

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Please note Cyberliabilitycomparison.com.au Insurance News is an information service sometimes provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Compare Australian Cyber Insurers

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

First ever OS X ransomware encrypts your data and asks for money

Safety concept

First ever OS X ransomware

Ransomware is a particularly nasty piece of malware: After your computer is infected, it encrypts your data and refuses to give you the key unless you pay its makers a sum of money. Save for any glaring mistakes in the malware’s implementation, paying up is usually the only feasible way to get your data back, especially if you don’t have a backup.

Now, according to security company Palo Alto Networks, the first functional ransomware that operates on Apple’s OS X has been discovered.

Read More

Source mashable.com

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Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

Cyber Insurance – Know The Risk

Almost 70% of Australian and New Zealand Businesses have experienced a Cyber Attack in the last 12 months

What is a cyber attack?

Cyber Insurance – Know The Risk

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Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

The importance of cyber insurance

Why is cyber insurance important?

Cyber-attacks or data breaches can take many forms, from deliberate attacks to technology issues or simple negligence. As modern business is reliant on computer systems and networks, a breach of data or a shut-down of service can have a major impact on your business with many small businesses unable to operate afterwards.

Cyber Insurance can help in the event of a breach

Small businesses are particularly vulnerable to cyber-attacks of all kinds and it can be very costly. Aside from the cost of notifying your customers, you may also face costs for PR, credit monitoring, investigations response and compliance related activity, compensation for affected customers and engaging experts.

Most of these costs aren’t covered by normal business insurance, which is why it is important to speak to your insurance broker to make sure you are covered in case of a breach or attack.

Information provided by Know Risk.

Click Here To Compare Cyber Insurers

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Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

 

What Is Cyber Crime

In basic terms, cyber crime is a blanket term for any type of activity of a criminal nature that is carried out using a computer and/or the internet.

Cyber crime includes all of the following:

  • Identity theft
  • Cyber stalking
  • Use of malware
  • Use of viruses
  • Computer and network hacking
  • Online scams
  • Phishing scams
  • Fraud
  • Information theft
  • Extortion
  • Identity theft

When you consider that almost all businesses have an internet presence or make use of the internet in their everyday business dealings, it becomes pretty clear that cyber crime presents a risk to even the smallest businesses. And criminals don’t necessarily need to hack your systems to commit cyber crime; if they manage to get their hands on a laptop, iPad or mobile phone belonging to your business (either because it has been stolen or left unattended), they have easy access to your information and are able to more easily commit their crimes.

What does cyber insurance cover?

Although policies will vary between insurers, a typical cyber insurance policy is designed to help you with both preventing breaches in the first place and dealing with them if and when they occur. Cyber insurance policies usually include the following:

  • The cost of restoring or recreating electronic data following a breach or leak
  • Forensic services to investigate a breach
  • PR coaching in the event a breach harms your business’s reputation
  • Assistance guarding against data breaches, hacking and employee error
  • Guidance on how to respond to a breach
  • Funds to cover the adverse financial effects related to a breach
  • Funds to cover any fines that might be payable following a breach

Source Knowrisk.com.au

Click here to Compare Cyber Insurance

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Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification
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Businesses must prepare for new generation of cyber risks

Prepare for a new generation of cyber risks

Businesses must prepare for a new generation of cyber risks which are fast evolving, moving beyond the established threats of data breaches, privacy issues and reputational damage to operational damage, business interruption and even potentially catastrophic losses.

In a new report – A Guide to Cyber Risk: Managing The Impact of Increasing Interconnectivity – specialist insurer Allianz Global Corporate & Specialty (AGCS) examines the latest trends in cyber risk and emerging perils around the globe. Cyber risk is a major and fast-increasing threat to businesses with cyber-crime alone costing the global economy approximately $445 billion a year, with the world’s largest 10 economies accounting for half this total. In Australia, cyber risk is estimated to cost the economy 0.08% of GDP per year, or approximately $1.3 billion.

“As recently as 15 years ago, cyber-attacks were fairly rudimentary and typically the work of hacktivists, but with increasing interconnectivity, globalization and the commercialization of cyber-crime there has been an explosion in both frequency and severity of cyber-attacks,” says AGCS CEO Chris Fischer Hirs.

“Cyber insurance is no replacement for robust IT security but it creates a second line of defence to mitigate cyber incidents. AGCS is seeing increasing demand for these services, and we are committed to working with our clients to better understand and respond to growing cyber risk exposures.”

Tougher regulatory regimes and new cyber perils

Increasing awareness of cyber exposures as well as regulatory change will propel the future rapid growth of cyber insurance. With fewer than 10% of companies currently purchasing cyber-specific policies, AGCS forecasts that cyber insurance premiums will grow globally from $2 billion per annum today to over $20 billion over the next decade, a compound annual growth rate of over 20%.

“Growth in the US is already underway as data protection regulations help focus minds, while legislative developments and increasing levels of liability will see growth accelerate in the rest of the world,” says Nigel Pearson, who is globally responsible for cyber insurance at AGCS.

“In Australia, the Federal Government has stated that it will introduce a mandatory data breach notification scheme by the end of 2015 or in early 2016, which is expected to drive interest in cyber insurance. Regional AGCS CEO, Holger Schaefer, stated “we have already seen a significant increase in cyber insurance inquiries as boards of directors become more aware of their regulatory and operational exposures to cyber risk.”

Previously, attention has largely been focused on the threat of corporate data breaches and privacy concerns, but the new generation of cyber risk is more complex: future threats will come from intellectual property theft, cyber extortion and the impact of business interruption (BI) following a cyber-attack or from operational or technical failure; a risk which is often underestimated.

“Awareness of BI risks and insurance related to cyber and technology is increasing. Within the next five to 10 years BI will be seen as a key risk and a major element of the cyber insurance landscape,” says Georgi Pachov, cyber expert in AGCS’s global property underwriting team.

In the context of cyber and IT risks, BI cover can be very broad including business IT computer systems, but also extending to industrial control systems (ICS) used by energy companies or robots used in manufacturing.

Connectivity creates risk

Increasing interconnectivity of everyday devices and growing reliance on technology and real-time data at personal and corporate levels, known as the ‘Internet of Things’, creates further vulnerabilities. Some estimates suggest that a trillion devices could be connected by 2020, while it is also forecast that as many as 50 billion machines could be exchanging data daily. ICS are another area of concern as a number of these still in use today were designed before cyber security became a priority issue. An attack against an ICS could result in physical damage such as fire or explosion, as well as BI.

Catastrophic event

While there have been some very large data breaches, the prospect of a catastrophic loss is becoming more likely, but exactly what it will look like is difficult to predict. Scenarios include a successful attack on the core infrastructure of the internet, a major data breach or a network outage for a cloud service provider, while a major cyber-attack involving an energy or utility company could result in significant outage of services, physical damage or even loss of life in future.

Stand-alone cover

Allianz also predicts that the scope of cyber insurance must evolve to provide broader and deeper coverage, addressing business interruption and closing gaps between traditional coverage and cyber policies. While cyber exclusions in property and casualty policies are likely to become commonplace, standalone cyber insurance will continue to evolve as the main source of comprehensive cover. There is growing interest among the telecommunications, retail, energy, utilities and transport sectors, as well as from financial institutions.

Education – both in terms of businesses’ understanding of exposures and underwriting knowledge – must improve if insurers are to meet growing demand. In addition, as with any other emerging risk, insurers also face challenges around pricing, untested policy wordings, modelling and risk accumulation.

Responding to cyber risk

The AGCS report highlights steps companies can take to address cyber risk. Insurance can only be part of the solution, with a comprehensive risk management approach being the foundation for cyber defence.

“Once you have purchased cyber insurance it does not mean that you can ignore IT security. The technological, operational and insurance aspects of risk management go hand in hand,” explains Max Broodryk, expert for cyber at AGCS Pacific.

Cyber risk management is too complex to be the preserve of a single individual or department, so AGCS recommends a ‘think-tank’ approach to tackling risk whereby different stakeholders from across the business collaborate to share knowledge.

In this way, different perspectives can be challenged and alternative scenarios considered: for example, these might include the risks posed by corporate developments such as mergers and acquisitions or by the use of cloud-based or outsourced services. In addition, cross-company involvement is essential to identify key assets at risk and, most importantly, to develop and test robust crisis response plans.

For more information and to download the full report please go here.

Source Allianz

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Our Unique Approach

Our Approach

Our Unique Approach

Insure 247 will approach a number of insurers and underwriting agencies. These insurers specialise in cover for cyber insurance and cyber liability.

Why get a quote when you can get quotes?

Insure 247 uses software to approach the market for cyber insurance quotes, and through our licensee Ausure and Steadfast we have access to all major insurance markets.

Please note Ratings and Prices do are samples only

Please note Ratings and Prices are samples only

  • Once completed we will get quotes from our insurer panel to find right the right policy at the right price.
  • Certificates of currencies same day^
  • 5 Insurance companies approached for your quotes*
  • Claims Ratings provided +

Variations and Exclusions

Your will receive all variations and exclusions to help you compare

* Insurers may include Allianz, AIG, Altiora, Brooklyn, CGU, Chubb, Dual Australia, Emergence, QBE, and Zurich

^ Same day certificate of currencies up to 3pm AEST and dependant on payment options

+ Claims rating provided by LMI

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One of the fastest growing insurance brokerage firms in Australia, Ausure Insurance Brokers is a privately held organisation of motivated, creative insurance experts who collectively have expertise in almost every area of business and personal insurance.

Each Ausure Office is owned and managed by a carefully selected Broker, who is positioned to provide localised and personal service. These brokers are backed by the financial strength and knowledge of the Ausure network.

 

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Comprised of 306 brokerages with over 500 offices, the group generated over $5 billion in insurance sales in FY14. This scale gives Steadfast enormous buying power, flexibility and influence when negotiating with major insurers on behalf of Steadfast brokers and results in us being able to provide our customers with access to multiple insurance companies, a broad range of products, competitive pricing, valuable advice and quality service.
As a Steadfast network insurance broker, you get the best of both worlds – local and personalised service, with the insurance expertise and support of a large organisation.

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