Many businesses believe they don't have to worry too much about cybercrime. After all, why wouldn't an internet hacker go straight for the heavy hitters like E-bay or Uber? Unfortunately, cyber-criminals realise that these companies have the resources to spend big on cybersecurity.
If your business is supported by a digital backbone, then you are at risk of a cyberattack. However, Cyber Insurance allows your business to have a level of protection that mitigates the effects of a cyber breach or attack. Yes, practicing cyber safety is crucial, but it also pays to take out insurance, so your business can better restore its operations if it falls victim to an attack.
$97,200 is the average loss per cybercrime for medium businesses. This is compared to $71,600 for large organisations and $46,000 for small businesses.
Cyber incidents are now considered the top risk facing businesses globally.
Nearly 94,000 cybercrime reports in 2023, up 23 per cent
- ASD Cyber Threat Report 2022-2023
1. Working out what type of insurance cover is appropriate for your business and how much you should spend on it isn't always easy and getting it wrong can be expensive.
2. Small business owners are often under-insured and can find recovering from an accident or incident, like cybercrime, extremely challenging.
3. Meanwhile, over-insuring could see you spending hundreds or even thousands of dollars a year on cover that you don't need.
4. There's no one-size-fits-all solution, and that's why it pays to seek expert assistance from the Insurance professionals at Arcuri & Associates.
Our team of insurance professionals at Arcuri & Associates can help you find the cover you need to help safeguard your business from Cybercrime in 2024.
Submit the form above for a FREE Cyber Insurance review to ensure you are paying the right amount.
Remember, there is no one-size-fits-all solution, and that's why it pays to seek expert assistance.
At Arcuri & Associates Pty Ltd, we are proud to be the local insurance broker Melbourne organisations choose when they’re looking for insurance solutions. Our dedicated team of domestic and commercial insurance brokers will work closely with you to tailor advice to your specific business needs. You can rest assured our primary duty is always to you. For first rate advice and recommendations, contact our Arcuri & Associates team of commercial insurance brokers in Melbourne today.