This policy provides indemnity for other liabilities which can occur for a Member, including the transmission of viruses to various other sites, defamation, infringement of intellectual property, breach of copyright, and confidentiality.
The policy also identifies Business Interruption caused by Denial of Access as well as Cyber Extortion Costs.
Supplied by one of our trusted insurance providers - AON.
New Zealand’s Prime Minister John Key confirms that cyber-attacks are one of the top six issues threatening New Zealanders. He states loss of information and data poses significant financial and reputation risks to our economy and New Zealand business.
New figures from the Government Communications Security Bureau show the number of serious cyber-attacks against New Zealand business has surged. In the past year, almost $257 million was lost to cyber-crime and approximately 856,000 New Zealanders were impacted by online crime according to Semantec Pacific Region.
The perpetrators of cyber-attacks and data breaches range from cyber gangs and hacktivists to unintentional errors made by employees and third party providers, which can negatively impact your organisation’s bottom line.
Cyber-attacks are an incredibly fast emerging risk to business worldwide and New Zealand is no exception. The impact on your business could be financially crippling – enough so to cease business. Should things go wrong, your business will face the costs of the immediate IT response to close loopholes and recover data. You may face claims from clients or customers whose data you hold, who suffer economic loss as a result of a cyber-attack and there’s also a risk of fraudulent funds transfer.
Traditional insurance is no longer enough. At Aon we know that in order to protect your income and the future of your business, it’s vital that you have the right cover in place to provide financial security. Our specialist cyber insurance team can assist you to evaluate these new risks your business faces and then arrange the cover your business needs to survive in the event of a cyber-attack.