Austral Risk Services are risk advisors and insurance brokers for small, medium and large business. Based in Western Australia, we provide comprehensive risk management services and leading insurance solutions to protect your business, company or organisation.
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Corporate > Corporate Insurance > Financial Risks > Cyber Risk
Did you know that the average cost per data breach in Australia is $2.72 million?
At Austral Risk Services, we believe that it is a strategic imperative for businesses of all sizes to protect their organisations from cyber threats.
It is now mandatory for organizations subject to the Privacy act to report eligible breaches. Failure to do so can result in financial penalties of $420,000 for individuals or $2.2 million for companies.
Our Cyber Risk offering allows clients to address their cyber weaknesses at a holistic level so that Boards, Directors, Business Owners and senior employees can minimise the risks of potentially significant losses by way of disruption, reputation, fines, penalties and of course, profit.
Austral Risk Services risk managed approach enables all businesses to discharge their responsibilities through identifying cyber risks and their organisational weaknesses in a rapid and cost effective way. Properly managed
Companies can both minimize their risk of cyber attack but also the cost of insurance if taken.
Contact us now for your obligation free cyber resilience assessment.
Cyber risk means any risk of financial loss, disruption or damage to the reputation of an organisation from some sort of failure of its information technology systems. Cyber risk is now getting the attention of boards of directors of senior leadership within the C-suite (CEO, CFO, CRO etc.) as more and more cyber incidents occur around the world
Cyber security commentators see the proliferation of technology, the easy access to technology, social media and the speed of communications giving increased power to those groups that historically had smaller voices.
As high-profile data breaches are announced one after another, consumers may have stopped believing companies take protecting their information seriously. It’s time for companies to start looking ahead at the next generation of threats and to step up their game to better protect consumer data.
The number and sophistication of cyber threats will continue to increase exponentially. You need to ensure your business is prepared by minimising the risk and ensuring you have the right insurance in place to protect you if a breach occurs.
Austral’s Cyber Liability & Privacy Protection Insurance covers the following:
Size of Business (in terms of employees)
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