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May 2017 | Austbrokers Terrace Insurance | Adelaide | Melbourne

Rising Tide Of Cyber Attacks On Financial Institutions

Banks, investment companies, and insurers are prime targets for cybercriminals looking to steal money or information, disrupt operations, destroy critical infrastructure, or otherwise compromise data-rich financial services institutions (FSIs). Indeed, FSIs lead the pack in terms of the average cost of cybercrime incurred by companies in a particular industry, counting both internal activities and external […]

Cyber Attacks Pose $20bn Threat To Economy

Cyber breaches in major cities could cost the Australian economy up to $US16 billion ($20.9 billion), according to a study by Lloyd’s and Cambridge University. Sydney alone has $US4.86 billion ($6.36 billion) of GDP at risk from cyber attack for 2015-2025, ranking it 12th among the world’s 301 major cities, the research shows. Lloyd’s says […]

Insurance Excesses: How Do They Work?

Many policies include an excess. This is the amount you have to pay if you decide to make a claim on your policy. It’s a way of you accepting a small portion of the risk yourself. The amount of the excess is specified in your policy. How does it work? If your home is damaged […]

The Risk Of Shadow IT

By 2020, one in three successful cyber-attacks on organisations will be via shadow IT (Gartner) – in other words, the apps and software employees use without their employer’s approval or authorisation. According to Vaughan Klein, Regional Manager of Collaboration at Cisco Australia and New Zealand, the billions of dollars Australian businesses invest in security annually […]

Global Ransomware (WannaCrypt) Attack

In the last couple of weeks, a new form of ransomware known as WannaCrypt (or WannaCry) has crippled thousands of computers and locked up essential services including hospitals in Britain, FedEx in the US and Telefonica in Spain. Using the long-established strategy of encrypting a computer’s contents and then demanding a payment for the decryption […]

Three Online Scams To Watch Out For

Online cons can cost you both time and money. Here are three common scams you should look out for: Online Dating ScamsAccording to the ACCC, 2,620 Australians lost almost $23 million to romance scams last year. Phishing ScamsWe’ve all received phoney correspondence from a fraudster purporting to look like it’s come from a legitimate business […]

$20bn Cyber Attack Threat

Cyber breaches in major cities could cost the Australian economy up to $US16 billion ($20.9 billion), according to a study by Lloyd’s and Cambridge University. Sydney alone has $US4.86 billion ($6.36 billion) of GDP at risk from cyber attack for 2015-2025, ranking it 12th among the world’s 301 major cities, the research shows. Lloyd’s says […]

How Much Contents Insurance Do You Need?

Imagine if you came home one day and everything – and we mean everything – inside the house had vanished.  All that was left were bare rooms and a stunned look on your face. Radical as it may seem, when it comes to possessions, starting with an imaginary clean slate is a good idea because […]

Small Business: A Cyber Crime Target

In its Internet Cyber Security Report for 2016, US computer security giant Symantec warns that it is small businesses that are increasingly bearing the brunt of cybercrime worldwide. “In the last five years, we have observed a steady increase in attacks targeting businesses with less than 250 employees, with 43 percent of all attacks targeted at small […]

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