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.