Why should you choose Marsh to arrange your insurance solutions?
At the moment, tech companies aren’t required to have cyber liability insurance under New Zealand law. But they are required to protect the information of their customers and staff – under the New Zealand Privacy Act 2020.
A cyber liability or cybersecurity policy can help offer your tech company cover for costs towards working with regulators if you ever came under attack.
Cyber risk is any risk that comes about from the incorrect or unauthorised use of technology.
This might include malicious cybercrime, like ransomware, accidental disclosure of information and loss of confidential data.
Cyber attacks can significantly disrupt business operations. They’re also becoming more frequent and sophisticated, causing disruption to businesses of all sizes.
Taking proactive measures to prevent a cyber attack is increasingly imperative – even for technology companies themselves.
A 2021 HP security survey revealed that the average cost of cyber-attacks to small businesses in New Zealand is $159,000.*
In the aftermath of an attack, costs may come from recovery of lost data and legal fees due to compromised customer information. (Though the consequences of an attack vary widely.)
The policies you need will depend on the type of business you own and the industry in which you operate.
So that we can understand and assess your needs, contact our cyber risk specialists today.
Cyber liability insurance and cybersecurity insurance are sometimes used interchangeably, but they are not the same.
Generally speaking, cyber liability largely covers financial fallout caused by cyber-related events – like data breaches, network failures and cyber-attacks. It can cover the cost of cyber-incident responses, such as legal fees, PR expenses and notification costs.
Cybersecurity insurance is typically broader. It is usually designed to help businesses manage and mitigate their cyber risks. It might include cyber liability insurance, but it can also help cover business interruption, extortion or phishing.
Insurance can be a lifeline. But lump sum premiums can be a hindrance. Pay in monthly instalments with premium funding arranged by Marsh.
Protect your business against claims of misleading advice, breach of duty and negligence with professional indemnity cover.
Cyber attacks are becoming increasingly common. Help protect your small business with cyber insurance solutions arranged by Marsh.
Data breaches, network failures, cyberattacks. Help shield your business from the risks of IT consultancy – from costly legal fees.
Whether you're a freelancer, studio head or studio owner, you need all the bandwidth you can get. Let us arrange your cover for you.
Looking for user-friendly insurance that help cover your design business's unique risks and needs? We can help.
LCPA 23/150
Marsh Ltd (NZBN 9429040918792)(“Marsh”) arranges insurance and is not an insurer. This webpage contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire the product, refer to the specific policy wordings and/or product disclosure statements available from Marsh on request.
