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Cyber risk - Are you protected?
June 1, 2023
Rupert Cutler
Business insurance reports that:
Australia-based financial service firm Latitude Group Holdings Ltd. is expecting a loss of between $95 million Australian ($61.98 million) and AUD105 million for the first half to June, as it bears the brunt of lost income and costs associated with the major cyber attack in March, Banking Day reported. The company also plans to make a provision of around AUD46 million for costs related to the incident, including likely remediation costs.
We have 35+ years Proven Experience helping Businesses Understand Risks through Enterprise Risk Management and to calculate how to avert and Risk Transfer to Professional Insurers. We are a Risk and Insurance Consultancy focussed upon the needs of our clients. We are also a FCA regulated Authorised Representative of Lloyds Broker Bellwood Prestbury and access the Specialist Insurers.
The 5 Biggest Cyber Security Threats that Big and Small Businesses face are:
- Phishing Attacks
- Malware Attacks
- Ransomware
- Weak Passwords
- Insider Threats
Insurers compensate businesses for millions of losses annually to pay for cyber losses including remediation and loss of reputation, the choice of providers remains strong.
If you are unsure of the impact of a cyber loss call us at Holtarka Limited for a free and confidential review
