At first glance, it may appear that Cyber Insurance is really only for IT businesses and those that predominantly trade online. However, any business that uses computers or the internet should consider Cyber Insurance to protect themselves from a number of cyber exposures.
Cyber: of, relating to, or involving computers or computer networks (as the Internet)
Some of the exposures that many NZ businesses face include:
System damage & loss of systems/information
Computer viruses & hackers
Infringement of copyright, trademarks and trade names (on marketing material – digital or print)
Loss of profits due to a cyber event
Cyber Insurance can cover direct costs to your business as well as claims from third parties. These costs include the associated legal costs as well as help from Public Relations consultants to reduce reputation damage.