Cyber Insurance
— As more businesses rely on technology to store and share sensitive information, cyber threats are becoming more prevalent. To mitigate the impact of cybersecurity breaches, cyber insurance arranged through imar can help protect small businesses in Australia from the growing threat of cyber attacks, data breaches, and system failures.
Contract Works Insurance
Builders Public Liability Insurance
Commercial Motor Insurance
FAQs
While cyber insurance is not legally required in Australia, it’s highly recommended for businesses that store customer data, rely on technology, or operate online. Some contracts and partnerships may also require proof of coverage.
Even minimal data storage can expose your business to cyber threats. Cyber risk insurance helps protect against the financial and operational impact of cyber incidents, even if you don’t store large amounts of data.
Many small businesses worry that cyber insurance is too expensive. However, premiums can vary depending on several factors, including your business size, risk profile, and the coverage limits you select.
Factors that affect cost include:
- Industry risk and exposure
- Number of employees and systems used
- Data storage practices and protection measures
- History of previous cyber incidents or claims
There are several ways to reduce your cyber insurance premium without sacrificing coverage, including:
- Implementing strong cybersecurity measures
- Keeping software and systems up-to-date
- Opting for a higher excess
Speak with an imar broker today to discuss your cyber insurance options in Australia. We’ll help you find a cost-effective policy while ensuring your business is protected against the most common cybersecurity risks.
In Summary
As insurance brokers, imar can help you secure the right cyber insurance for your business. We understand your unique needs and will ensure you’re protected with access to a wide range of insurers and policies. We make finding cyber risk insurance easy, so you can focus on what matters most – running your business securely.