Cyber insurance is a must for businesses, big or small, as cybercrime attacks grow in number and sophistication. Global reinsurance firm Gen Re highlights 10 facts that lead to more informed cyber insurance decisions. Continue reading here. Source: insurancebusinessmag Is your business protected by Cyber Insurance? We can help you! Contact Us!
Hacking Can Affect Anyone!
SMEs thinking that hacking isn’t a relevant issue to them are being urged to think again, as a hack on a Perth business results in a flood of fake online ads. A Perth-based real estate agency had its computer systems hacked, resulting in scammers publishing fake rental ads. Read more here. Source: My Business
Target Reaches Settlement Over Customer Data Breach
Target will pay $18.5 million to 47 states and the District of Columbia as part of a settlement with state attorney generals over a huge security breach that compromised the data of millions of customers. The settlement ends a year long investigation into how hackers obtained names, credit card numbers and other information about tens […]
Manchester Attack: Changes To Travel Insurance
The horrific terror attack in Manchester has triggered a change in travel advice for Australians headed to the UK. The terrorism threat in Britain has been upgraded from ‘severe’ to ‘critical’ (the highest of the UK’s four domestic threat levels) – with the Australian Government cautioning travellers to ‘exercise a high degree of caution.’ Travellers […]
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 […]
Phishing Scams: What Are They? How Can You Protect Yourself?
Phishing (pronounced “fishing”) is an online fraud technique used by criminals to lure you into disclosing your personal information. How can you identify a phishing scheme? What are best practices to avoid becoming a victim of online fraud? Unfortunately, as phishing attacks become more sophisticated, it is very difficult for the average person to tell […]
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 […]
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