• Skip to primary navigation
  • Skip to main content
  • Skip to footer
CityRural_logo_horiz_white

08 8272 7785

Menu
  • About Us
    • Close
    • About Us
      • Awards & Sponsorships
      • Claims Service
      • Code of Practice
      • Complaints Policy
      • Fees for Our Services
      • Financial Services Guide
      • Important Information
      • Steadfast Group
      • Services Agreement
      • Target Market Determinations
      • Terms of Payment
      • Privacy Policy
      • Your Insurance Needs
    • Company OverviewCity-Rural-Corporate-Profile-2
  • Products and Services
    Close
    • Commercial
      • Business Insurance
      • Corporate Travel Insurance
      • Cyber Protection Insurance
      • Management Liability Insurance
      • Premium Funding
      • Rural & Farming Insurance
      • Transport Insurance
    • Domestic
      • Cyber Insurance for Families
      • Landlord Insurance Adelaide
      • Prestige Home Insurance
      • Residential Calculators
    • Specialty
      • Buskers & Street Performers
      • Events & Entertainment Insurance
      • Food Van Insurance
      • Short Term Performance Insurance
    • Festival
      • Melbourne Comedy Festival – Performers Liability
      • Adelaide Fringe Festival Insurance
    • Information Sheets

      We have a range of product information sheets available for you to download

  • Online Forms
    • Close
    • General Online Forms
      • Buskers Street Performers Quote
      • Food Trailer or Van Liability
      • Home & Contents Quote
      • Landlord Insurance Quote
      • Motor Vehicle Quote
      • Prestige Home Insurance
      • Short Term Performance Insurance
    • Festival Online Forms
      • Adelaide Fringe Festival Insurance
      • Melbourne Comedy Festival – Performers Liability
  • Promotions
    • Close
    • NTI Truck Assist
    • NTI Shipping & Delivery Insurance
  • News
    • Close
      • Damages-to-Retaining-WallsRetaining Walls and Insurance Coverage
      • batteryThe Hidden Dangers of Lithium-Ion Batteries: What Australian Homeowners Need to Know
      • CityRural Social 10.24-03Additional Services
  • Contact Us

How Cyber Insurance can help protect your business

As our reliance on technology, the internet, and all things digital continues to grow, so does cyber risk. For businesses of all sizes and even government bodies, falling prey to cyber attacks is one of the key areas of concern every day. Evidently, every business with an online presence or electronic data records is potentially at risk. Cyber incidents can put a business in a financial crisis as well as threaten your intellectual property, put your customers’ confidential information in jeopardy, and cause significant damage to your brand. Let’s take a look at the common types of cyber threats and what you can do to protect your business.

1. Malicious Software (Malware)

Malware is the generic term encompassing viruses, spyware, trojans and worms. The aim is to gain access to private information such as credit card details and passwords. Malware can also spy on a user’s computer and take control of its functionalities. Malware can happen to anyone and at any time. Malware attacks don’t require advanced skills and can be “performed” anywhere in the world.

2. Scam Emails (Phishing)

Chances are you’ve probably already come across scam emails before as they are typically sent to thousands of people. Scammers have become increasingly good at mimicking language, branding, and logos to appear real. Unfortunately, phishing scams aren’t only limited to emails – they are now also prevalent through SMS, Instant Messaging, and across social media platforms. Be cautious of requests for money (urgent or overdue bills), suspicious attachments, or “click here to win” links and requests to check or confirm login details.

3. Ransomware

First off – Never pay a ransom! You are not guaranteed to regain access plus you could be susceptible to another attack (and be even more out of pocket!). Similar to phishing, ransomware attacks are typically carried out via a malicious but legitimate-looking email link or attachment. When the link is clicked on or the document downloaded, ransomware will encrypt a user’s files then demand a ransom to restore access – typically payable using cryptocurrency like Bitcoin. Ransomware creators prey on businesses of varying sizes but due to small businesses often being less security conscious, are less likely to implement cyber security measures.

So what can you do to minimise your risks?

1. Regular updates

Make sure that you’re turning on automatic updates. Updates are newer versions of software you’re utilising. They tend to run faster and more efficiently but even more important, they’ll tend to have higher security levels which in turn reduces your risks of cyber attacks

2. Automatic backups

A backup is a digital copy of your business’s most important documents. If your information is lost, stolen or destroyed; at least you’ll have a back up which means you’ll be back into business quicker and easier. You could also opt for an external drive and keeping it somewhere safe offsite if you prefer.

3. Multi-factor authentication

A security measure that requires two or more proofs of identity to grant you access – think of it as a double layer of security. It’s usually a combination of a pin and a physical possession. It could be a password, security question and a code sent to your mobile phone for example. More sophisticated and high value data could be protected by fingerprint and retina screening. While a hacker could get a hold of your PIN, it is unlikely that they’ll be able to obtain and use other proofs of identity.

While taking the above precautions will reduce your risks of cyber attacks, what happens if all fail? This is where having insurance is crucial!

As covered previously, with the rise of cyber attacks, data breaches are becoming the norm, and having adequate coverage to protect your business from risk is paramount. So what can cyber insurance cover?

Cyber insurance can help cover financial losses to your business (do take note of your excess limits), your customers, and other 3rd parties following a cyber security breach.

This might cover costs associated with:

  • Loss of revenue due to interrupted business
  • Hiring negotiators and potentially paying ransom in extreme cases
  • Recovering or replacing your records or data
  • Liability and loss of third party data
  • Defense of legal claims
  • Investigation by a government regulator
  • Copyright infringement
  • Misuse of intellectual property online
  • Crisis management and monitoring
  • Prevention of further attacks

Insurance policies vary and with a myriad of options out there, it is best to seek professional advice. Contact City Rural today to receive assistance on what insurance cover will suit your needs.

Previous Post: « Reviewing Your Business Insurance
Next Post: Management liability VS Professional Indemnity »
Insurance Services
  • Business Insurance

  • Corporate Travel Insurance

  • Cyber Protection Insurance

  • Landlord Insurance

  • Management Liability Insurance

  • Premium Funding

  • Cyber Insurance for Families

  • Prestige Home Insurance

  • Buskers & Street Performance

  • Food Van Insurance

Quick Links
  • Financial Services Guide

  • Privacy Policy

  • Target Market Determinations

  • Complaints Policy

  • News

  • Contact

City Rural Insurance Brokers Pty Ltd

ABN 52 074 444 296 | AFSL 237491

200 Greenhill Road, Eastwood SA 5063
PO Box 7138 Hutt Street, Adelaide South Australia 5000

Telephone: (08) 8272 7785
Email: info@cityrural.au

Steadfast-Logo-white

Copyright © 2025 City Rural Insurance Brokers Pty Ltd. Website by

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with that.OkRead more