Cyber Liability Insurance

Why Do You Need Cyber Liability Insurance?

Not-for-profit and community organisations are required to maintain an extensive amount of sensitive information on a routine basis. The personal information of participants, employees/volunteers and members, such as health records, bank account numbers and credit card numbers are filed and stored away in an organised manner on a computer system. While storing the information electronically is certainly the logical way to go, it may appear as a lucrative target for hackers and other like minded cyber criminals. With the continually increasing government regulation stemming from privacy breaches and the ever increasing propensity for cyber hacks, cyber insurance can indemnify you against costs and expenses incurred as a result of such malicious activity with these costs including public relations expenses, lost income, costs to notify customers/members or those other persons for whom their private information has been compromised.

Helping You Achieve Cyber Security

Data breaches have proven to be incredibly costly, averaging millions of dollars – reason enough why not-for-profit and community organisations should make way for cyber liability insurance in their business’ insurance plans or at least have a talk with us today around the importance of such cover. At Not For Profit Insurance, we are able to offer our clients a cyber liability insurance policy that will help you pay for much of the “damage control” and resultant costs caused by the security breach, so you can get your organisation back on track as soon as possible.

Cyber liability insurance policies can include cover for:

  • Damages resulting from breach of privacy lawsuits.
  • Phishing
  • Telephone Hacking
  • Legal expenses.
  • Costs of notifying victims of a security breach.
  • Costs of a good-faith marketing campaign to restore trust (i.e. Public Relations expenses)

Contact Us Today

Considering the increased number of cyber attack incidents over recent years and the fact that many regulators have privacy breaches (regardless of cause) on their “watch” list and are all too ready to issue civil penalties for breaches, cyber insurance has certainly become the need of the hour. If you are looking for flexible cyber liability insurance coverage, you have come to the right place. Please do not hesitate and contact us now on 1300 NFP INS (1300 637 467) for more information about our cyber liability insurance program or to schedule an appointment with us. Remember, we are here to help!