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Cyber Liability Insurance Advisors

across Australia

DAS Insure is a trusted cyber liability insurance advisor, working with businesses across Australia to ensure you have the protection you need. Our mantra is ‘Lost data means lost trust.’ We have years of experience in working with a wide range of commercial enterprises, small to medium sized business and not for profit organisations to deliver high-quality cyber liability insurance, so contact our team today and find out how we can support you.

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How Does Cyber Liability Insurance Work? Could It Protect Your Business?

In today’s digital economy, no organisation is safe from a cyber-attack.

Especially for a small business, even a minor cyber security incident can have devastating impacts. According to the Australian Cyber Security Centre, In the 2022-23 financial year, the average cost of cybercrime for small business increased to $46,000, and for medium businesses, it increased to $97,000.

‘Lost Data means lost trust’ if your clients’ privacy has been compromised.

Did you know that eight out of 10 small business owners and employees have experienced a cyber threat?  In Australia, nearly half the cyber-attacks target small to medium business.

You might be investigating if your business is at risk. Maybe you have wondered if Cyber Liability Insurance could be right for you. Let us help you with this daunting task. If an attack happens, more than a financial loss could be the outcome.   

Cyber Insurance Can Be Part Of The Solution

As the matter is complex, it is recommended to start with a proper Cyber Risk Health Check with one of our cyber insurance brokers. The insurance cover provided can differ vastly, but we are here to guide you through it.

DAS Insure is a Network Partner of the Australian Cyber Security Centre, our director Babette Bottin  is an expert in cyber risk management and data protection. A highly sought-after advisor, trainer and presenter in the world of cybersecurity, Babette has advised over 650 small businesses.

Babette understands that data protection and cybersecurity is not complex, avoids industry jargon and speaks in layperson’s terms. She believes cybersecurity is a team sport and supports clients to develop a road map and resources for their cybersecurity and data protection.

This video from Know Risk provides a great overview on Cyber insurance 101.

Let us know what you think, we are here to help you on your cybersecurity journey.

We recommend cyber liability insurance as crucial for your business. If you don't have the cash flow to overcome the business interruption period.
Your systems might not be operational for days, clients need to be informed and in the worst-case scenario, you will have to pay to monitor their credit history for the next few years. Especially if the credit history of your clients has to be monitored due to a breach of privacy data.
Cyber Insurance is NOT THE SILVER BULLET to solve all cyber risk issues. It has to be part of a holistic and ongoing cyber risk management. Support starts from the Top. Long gone and outdated are the times where Boards can lean back and refer to Cybersecurity as an IT Problem. Most importantly, you want to be proactive and mitigate the imminent and ongoing risk to a bearable minimum.

If you heavily rely on an external IT Expert or any other type of outsourced service provider, just be mindful that you can outsource a service but not the risk-, a data breach caused due to a compromise on your web hosting company platform will still be your responsibility.

We have seen an influx of claims caused by attacks on third party providers.

Survival
Your Cash flow is protected. Costs for First- and third-party liability, business interruption during a cyber-attack can add up quickly.  With an average of $ 46,000 per incident for small business, one in five small businesses who have experienced a cyber-attack and who are not insured will struggle to survive financially.
Reputation

Communication in crisis is key. Lost Data is lost trust- our mantra for a reason. Your clients’ data might be compromised in a data breach. You are the custodian of your clients’ information and have that extra duty of care, especially if you are a…

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Competitive Advantage
Cyber safety matters to your clients, especially your large corporate clients or government or critical infrastructure.  Why not demonstrate that you made cyber security and data protection a priority for your business- it will set you apart from your competitors and you will be able to win tier one tier two supplier contracts.
Risk Monitoring
Active Cyber liability insurers are now providing monitoring tools to help minimize the risk of a cyber-attack- these software tools are included at no extra cost and prewarn you if your emails have…
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Recovery
Included in the Cyber Security Insurance is forensic, legal and PR advice during and in the aftermath of a cyber incident. Resources for staff awareness training and one on one consulting sessions to discuss your unique cyber risk posture and how to ensure a complete recovery.

Learn more about cyber liability insurance. Email us on contact@dasinsure.com.

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Reputation
Communication in crisis is key. Lost Data is lost trust- our mantra for a reason. Your clients’ data might be compromised in a data breach. You are the custodian of your clients’ information and have that extra duty of care, especially if you are a Health Service Provider, in the NDIS space or work with children or elderly. Your Cyber insurance cover provides you with expert advice on how to report and handle a data breach and how to be compliant with the Australian Mandatory Data Breach Scheme- they even draft your communication to your clients for you and assist along the often lengthy process of recovery to reassure your clients that their data is safe with you.
Risk Monitoring
Active Cyber liability insurers are now providing monitoring tools to help minimize the risk of a cyber-attack- these software tools are included at no extra cost and prewarn you if your emails have been leaked in a data breach or your website credentials have been sold on the dark web. You increase your Cyber Security whilst actively monitors your cyber security posture. Even more so, the insurer or risk monitoring app will prewarn you if there is a change in your security posture.