Collaboration with Adroit Insurance & Risk

In Geelong Media by Mik Aidt

Cyber liability is the fastest growing insurance risk in Australia, because as the whole world is going digital, so do the criminals.

A cyber liability insurance policy covers claims where a loss of personal data results in a breach of privacy or a hacker attacks the company’s virtual bookkeeping system.

It also covers the costs to restore and recollect any lost data, to remove malware and fix a hacked system, the cost of a ransom payment, and even the loss of income during the downtime, as a result of the hack. Working on two fronts
Cyber risks are not covered under most business insurance policies. It takes serious policy analysis and expert advice to find the cover to make sure your business could recover from a cyber attack – and Adroit Insurance & Risk can provide that.

In October 2018, Adroit and Geelong Media started working together on increasing business awareness about cyber security: Adroit offers the ‘Humour against hacking’ awareness campaign to its customers, and Geelong Media advices its customers about the services and policies that Adroit has on offer.

Adroit Insurance & Risk started as a small broking business in Geelong in 1978. Four decades later Adroit services over 25,000 individuals and businesses and has a network of approximately 140 ‘locals’ across nine branches in regional and metropolitan Victoria.

»
Australia’s cybercrime crisis

Cybercrime is a growing “industry” with more companies targeted each week. It is a very real threat which is killing businesses:

60% of small to medium-size businesses that get hacked do not recover and cease trading.

The following stats provided by Commsnet Group highlight that many Australian workplaces have a critical educational and IT-behavioural problem:

70% of data breaches are down to human error

85% of employees are not engaged or are disinterested in the company procedures

90% of employees don't follow IT security polices

This is where Geelong Media’s Humour against hacking awareness campaign steps in to help improving cyber safety and security in the workplace.

See also:

» Adroit - 17 October 2018:
Keeping up with the workplace revolution — New liabilities for Virtual Assistants