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Cyber Insurance 2018-09-30T13:27:19+00:00

ADVICE, KNOWLEDGE, AND EXPERTISE FROM NORTHWEST INSURANCE

There is clearly a need for Cyber Insurance that advances the scope of coverage for cyber liability and addresses the full breadth of cyber risks.

Our technology-dependent world is changing constantly and liability policies do not cover every cyber risk exposure.

CYBER PROTECTION

“Just about every business today needs cyber insurance,” said Bob Hartwig, president of the Insurance Information Institute. “More and more businesses are transacting online and the reality is it’s only going to increase as we move forward.”

Any company with operations in Australia, EU, Japan, New Zealand, Korea, Hong Kong, Taiwan, Malaysia and the USA where data protection legislation is onerous should consider Cyber Insurance.

With recent data breaches hitting the headlines across the Asia Pacific/Oceania region, loss of personal and corporate data has far-reaching effects that could potentially change the way business is carried out all over the world.

The impact from the loss of corporate data and information such as intellectual property and proprietary information, which in the hands of a competitor, or even an extortionist, can severely disadvantage businesses.

What is Being Taken in Cyber Attacks?

  • Business Information and Data

  • Personally identifiable information

  • Government ID numbers

  • Medical records

  • Credit/debit card details

Which Industries can Benefit From Cyber Insurance?

  • Medical/Healthcare

  • Retail/Wholesale

  • Manufacturing/Industrial

  • Construction/Real Estate

  • Telecommunications

  • Transportation/Logistics

  • Education

  • Entertainment

  • Professionals

  • Technology

  • Government

HIGH LEVEL OF CLIENT SERVICE, KNOWLEDGE AND EXPERTISE

We have a wealth of important industry knowledge and you can be assured you are working with trusted Insurance professionals.
As experienced brokers, we can evaluate available products on the market and advise our clients accordingly.

Research has found that:

Over the last three years, there has been a 2000% increase in cyber attacks, with more than 45% originating in the Asia Pacific/Oceania region.

In Australia, cybercrime is the second most commonly experienced crime, just behind asset misappropriation.

30% of Australian organisations experienced cybercrime in the last 12 months, significantly higher than global (23%) and Asia Pacific (22%) levels.

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