A cyber crime happens every 8 minutes in Australia and can absolutely devastate a business if they are not adequately prepared or covered for it. Cyber insurance refers to common forms of cyber security breaches, and can include cover for ransomware, data breaches, privacy breaches or personally identifiable information as well as litigation that might arise from a cyber security breach.
Skye Theodorou
Co-founder & CEO at upcover
upcover makes a big point about how easy the online application process is, so I gave it a try for my passion project. I put in the type of business I run, music composition, and my yearly revenue. Yo be clear, I multiplied my actual income by about 100 to make the quote more reasonable. One of these days...
The screenshot below is the quote I got. upcover recommended Cyber & Privacy Liability cover, but didn't offer professional indemnity for my work. I tried a few different professions and it had different cover types for things like doctors or fitness instructors.
Overall, it was a pretty nice experience, especially getting a quote in less than 15 seconds. If things were ever to pop off and I needed cyber cover, I'd definitely get a more detailed quote.
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