It looks like the message is finally getting through after a recent survey found over half of Australian and New Zealand businesses increased their cyber security spend last year. A new report by Australia’s Cyber Emergency Response Team (AusCERT) showed that 58% of organisations across the region bumped up their spending in 2017.   The […]

A senior underwriter has urged brokers to further educate their clients on cyber risk, saying criminals are still having alarming success with traditional methodology. Speaking at a webinar earlier this week, Gerry Power – Emergence’s national head of sales – told the 1,100 attendees that hacking was involved in 48% of breaches, while malicious software […]

Shareholder class action lawsuits could soon make their presence felt in the cyber insurance market, an expert has said. According to Bloomberg, tech giant Yahoo last month reached an $80 million settlement with investors over claims that executives concealed data breaches following an attack thought to have shaved US$350 million off the valuation of the […]

In the short time since the late February rollout of Australia’s mandatory breach notification scheme, the privacy commissioner has already been notified of 31 breaches, an Aon expert has said. Fergus Brooks, cyber risk practice leader at Aon Australia, said that statistics released by the privacy commissioner last week highlight the impact mandatory breach notification […]

The rise in cyber attacks is forcing companies to rethink their approach to risk management, according to a new report from Marsh & McLennan Companies’ Global Risk Centre and education and development organization WomenCorporateDirectors (WCD). “With increasing threats of attack on their data and systems, boards are demanding much more information about their organizations’ risks […]

Can your business afford to be without insurance for Breach Notification costs? Arranging cover is not as daunting, or as expensive as it may seem. Contact us to discuss. Australia is one of the strictest countries in the Asia-Pacific region when it comes to data breach penalties, a new report has found. The Data Risk […]

One in three Australian adults fell victim to some form of cybercrime last year, costing the economy $2.3 billion. Research released in Norton by Symantec’s Cyber Security Insights Report shows more than six million people fell victim to identify theft, credit fraud or had their passwords compromised. READ MORE: All the people who knew about […]

  Since the inception of our Blogging section of our website, articles regarding Cyber Crime, Cyber Liability, ‘Cyber anything’ have been a constant. We have gone to great lengths to write and forward information to our existing or prospective clients about the emerging peril of Cyber Crime and its potentially catastrophic effect on society. We […]

If you would like to discuss Cyber insurance, please contact us via our Cyber Insurance page. Advances in technology are great, but the downside is that when you use technology, you are leaving yourself open to all kinds of cyber crime and security threats. Among those threats is the risk of ransomware, which the ACCC has […]