The Notifiable Data Breaches (NDB) scheme which was legislated on 22nd February 2018 has significantly heightened the awareness for accountants to review their cyber policies and procedures. As a result, the demand has risen for the need of cyber insurance. The insurance provides protection in the areas of PR management, breach notifications, business interruption and third party losses, to name a few.

Barely a day goes by without some form of data breach being reported in the media, be it a competitor looking to gain an edge by stealing sensitive data or a disgruntled ex-employee looking to take retribution on a former employer. The media and politicians have chosen to label this kind of activity ‘Cyber Crime’ or ‘Cyber Warfare’, and it is a lot more prevalent than people realise.

It is not just big corporate organisations that are at risk, so too are small to medium businesses.

This is now potentially the biggest threat your company faces, yet many companies still choose to ignore the threat. With recent changes in legislation and more changes coming from various government bodies, now is the time to start understanding your exposures and preparing yourself.

Accountancy Insurance’s cyber insurance solution, Cyber Shield, ensures that your firm has the best possible outcome following a cyber crime attack.

Click here to view the Cyber Shield brochure or click here to contact us.

More than 1,000 accountants across Australia utilise Accountancy Insurance’s professional indemnity offering. In July 2014 Accountancy Insurance launched PI Shield, a high quality and competitive scheme that is teamed with industry experts, Arch Underwriting at Lloyd’s (Australia) Pty Ltd. Depending on your individual circumstance, you may be eligible to receive the benefits of PI Shield scheme. Otherwise, we will be able to provide you with a tailored solution to suit your specific needs. Just a few benefits of the PI Shield scheme include:

• Arch Underwriting at Lloyd’s (Australia) Pty Ltd, so you can have confidence that you are dealing with a reputable organisation.

• The expert team handle claims locally, not offshore like some competitors. You will be responded to promptly and fairly.

• You will be provided with risk management tools and education to reduce the claims within your practice.

Click here for a quick quote.

Practice Management Liability Insurance protects your practice, its directors, officers and employees against claims relating to alleged breaches of company law or regulation, employment law or regulation and/or alleged wrongful acts. An allegation against your directors or company may be completely baseless and without merit, but you can still incur expensive legal costs and invest significant time to defend such an allegation.

Click here to view the Practice Management Liability Insurance brochure or click here to contact us.