As technology is forever changing and evolving so are the skills of criminals. As most Businesses are becoming paperless it’s almost a thing of the past for a break and enter to occur where criminals come into your place of Business to steal important documents. Now with a few clever clicks, your entire Business has caught on ‘Digital Fire’……It’s been effected by cyber crime.

The Australian Federal Police classifies cyber crime as “Crimes committed directly against computer and computer systems. The use of technology to commit or facilitate the commission of traditional crimes.

The amount of times you will hear, “It will never happen to me, I’m just a small business”. Precisely this is exactly who they will target. Do you think they will go after the multi-million dollar conglomerate companies who have sophisticated I.T Departments? Or will they go after the small business with no such infrastructure by holding their files ransom unless you pay sometimes thousands of dollars otherwise their entire digital business is deleted. Rarely do these SME’s back up all their data off site so it would be absolutely crippling to a business if this happens. Most businesses cannot survive a cyber-attack if every file they have is deleted and destroyed.

Any company that handles data, either personal or corporate information on a daily basis is at risk. Examples of data; identity card numbers, profiles on employees or customers, credit card information, sensitive demographic information about customers, information on budgets, customer lists, share prospectus or marketing plans.

Cyber liability Insurance will cover personal data, corporate data, data security and defence costs.

Another thing you will hear a lot is “I have an I.T Company and they make sure this won’t happen to me”. Get them to ask the I.T Company if they will put it into writing that they can guarantee 100% there is absolutely no possible chance that you can be affected by a cyber attack. I can guarantee that you will never get that letter!

In Australia, Cyber-crime is the second most commonly experienced crime and over the last 3 years there has been a 2000% increase in cyber-attacks. This is an Insurance your Business can’t afford not to get.

 

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