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  • Rob Langan

How prepared is your business?



There has never been a time when companies and organisations have been more at risk of having their data made public or stolen, be it through a deliberate cyber attack from an external or internal party, or as a result of system or human error.


Global Insurer Chubb in partnership with YouGov conducted a survey of 400 Australian SME’s to gauge their attitude towards Cyber Risks.


The results were startling to say the least.


Key findings of the survey:-


· 60% of SMEs have experienced a cyber incident in the past 12 months.


· SMEs seem confident in managing a cyber incident, 87% believe they can overcome a cyber incident and 56% believe that they can contain an incident within 12 hours, but responses seem to contradict that belief;


· 30% do not know which data files are affected after a breach


· 45% are not confident that their employees who have access to sensitive data are fully aware of their data privacy responsibilities.


· Worryingly, 28% of SMEs took no action following a cyber incident


· The top three cyber incidents caused by internal factors were data loss or business interruption from system malfunction, technical fault and human error.



Contact Bayinsure for a full copy of the Chubb report and to discuss Cyber Risk insurance solutions for your business.


info@bayinsure.com.au

www.bayinsure.com.au

www.chubb.com


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Benny & Alex Pty Ltd trading as Bayinsure is a Corporate Authorised Representative (CAR No. 1261866) of Insurance Advisernet Australia Australian Financial Services License Number: 240549. Visit the Insurance Advisernet Website