Can your business survive the long-term impact of a cyber-crime? October 2017 2

We live in a dynamic world where the evolution of technology impacts our daily lives.

Client expectations and scrutiny on the products and services you provide are ever-increasing. This changing climate brings challenges and risks to your business that was once not thought possible. 

One such area of concern is cybercrime which is one of the fastest and most crippling crimes in the world. Your business can be susceptible to virus attacks, extortion attempts, stolen sensitive client data, phishing attacks and privacy breaches just to name a few.

With more than 500 cybercrimes reported in Australia every week at an average cost of $2.7million*, the risks to your business are real.

Can your business survive the long-term impact of a cybercrime? The implications on your business can be substantial. Going into damage control and dealing with the cybercrime event and attempting to rectify the situation costs time, money and valuable resources. Beyond the tangible toll, the intangible issue of loss of reputation can have a crippling effect on your business.

Prevention is always better than a cure however it’s not always possible. Adhering to stringent risk management principals such as securing your digital assets and adequate password variations could act to serve as a valuable hindrance to a cyber-attack.

Still thinking it won’t happen to you? According to Keeper Security’s “The State of SMB Cyber security” report, a staggering 50 per cent of small and midsized organisations reported suffering at least one cyber-attack in 2016.

As the official general insurance partner of Partners Wealth Group, Guild Insurance has developed a cyber insurance policy to help protect your and your clients’ businesses if such cybercrimes occur.

To get a quote simply call 1800 810 213 or visit guildinsurance.com.au/cyber

The Guild Insurance Cyber Event Protection product is underwritten by Emergence Insurance Group Pty Ltd ACN 601 360 089 as a Corporate Authorised Representative No. 001000422 of The Hollard Insurance Company Pty Ltd ABN 78 090 584 473, AFSL 241 436. * Sources: F-Secure research 2015; ACORN 2015. This information is of a general nature only, please refer to the policy for details. For more information contact Guild Insurance on 1800 810 213.
This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.