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Cyber Risk and your NDIS Business

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You will need:
1. Your ABN
2. An estimate of your Yearly Income (How do I calculate this?)

3. Once you have clicked "for an istant quote", you will find the CYBER INSURANCE option within the list of "Other Covers"

 

Cyber insurance is more important than ever when preparing your NDIS business for the additional risks a pandemic like Corona Virus creates.

According to the Australian Cyber Security Centre (ACSC), a cybercrime is reported every 10 minutes resulting in $328 million worth of losses to businesses last year.

This was before the Corona Virus implications have forced us to move our services online and send our staff home to work remotely, thus increasing the cyber risk that businesses face.

Not only does Cybercrime result in a financial loss to a business, but many businesses rely on word-of-mouth and maintaining a good reputation so this loss of trust, and potential abandonment could absolutely have your business circling the drain.

MyCareSpace and Bizcover would like to encourage our NDIS providers to ensure they have Cyber Insurance Cover to protect themselves against the additional risk they face when delivering information and services online.

Every business with an online presence is at risk of a cyber-attack.

How will Cyber Insurance protect my NDIS business

MyCareSpace and Bizcover bring you a Cyber Liability insurance* package that will:

  • Provides protection from the financial impact from claims in the event of a cyber breach or attack.

  • Cover the business interruption cost:  lost profits as a direct result of a cyber attack: E.g. loss of income, business expenses, increased cost of operating your business 

  • data recovery costs

  • fines & penalties

  • defence costs associated with a cyber claim

  • PR and crisis management costs

How do I get Cyber Insurance cover for my NDIS business?

Our insurance partners, Bizcover, can add a Cyber Liability Insurance Package* to your existing NDIS insurance package.

Alternatively, they can provide you with a complete package that includes public liability, personal indemnity and optional add-ons like:

  • Management Liability Cover
  • Cyber Insurance and
  • Business Cover

Ask an agent today!

Call 02 8287 6576

or to get a quote for the whole package online use the button below

CLICK FOR AN INSTANT QUOTE 
Get $5 discount off your annual premium

You will need:
1. Your ABN
2. An estimate of your Yearly Income (How do I calculate this?)

 

Consider this scenario

A cyber attack brings your business systems to a grinding halt. But this is the least of your worries.

In addition to your business being crippled, your participant data has been compromised or even worse, stolen.

As an NDIS Provider, you are most likely collecting:

  • personal, identifiable participant information 
  • participant health information
  • information about confidential NDIS plans

As a result of this cyber attack, multiple claims are made against your business, with participants suing for breach of privacy.

You will need a lawyer to defend your NDIS business against these claims and you will need to pay a cybersecurity/IT firm to restore (and repair) your business systems to bring you back online and ensure it doesn't happen again. The reputational damage that occurs is something that cannot be insured, but the financial impact can be minimised by demonstrating that your business can get back up and running quickly

 

Consider this scenario

Your business system and email is hacked. The personal details of all your NDIS participants are stolen, including their name, surname, DOB and email. 

The scammers send an email from your organisation asking participants to enter their bank details or medicare numbers. It looks like it came from you and they trust you, so they enter the requested information.

As a result of this cyber attack, multiple claims are made against your business, with participants suing for breach of privacy and more.

You will need a lawyer to defend your NDIS business against these claims and you will need to pay a cybersecurity/IT firm to secure your business systems to ensure it doesn't happen again.

What does this Cyber Insurance policy include

  • Unintentional or "inadvertent" loss or release of customer personal information

  • Cybercrime

  • Cyber extortion/ransomware and

  • Business interruption due to a cyber event. 

CLICK FOR AN INSTANT QUOTE 
Get $5 discount off your annual premium

You will need:
1. Your ABN
2. An estimate of your Yearly Income (How do I calculate this?)

 

The information you hold about your NDIS participant data is sensitive and critical. If you don’t protect it properly, your NDIS business may be increasingly more vulnerable to cyber criminals than you realise. 

If you’re still not convinced your business may be at risk, consider the cold hard facts about doing business in today’s technically advanced world: 

  • Cyber crime costs Australian businesses $1 billion annually – yet it remains one of the least insured policy areas.
     
  • ‘Unisys Security Index – Australia, 2019’ revealed that 15% of Australians would stop dealing with an organisation if their data was breached.

*As with any insurance, cover is subject to the terms, conditions and exclusions contained in your policy document. The information on this webpage is general only and should not be relied upon as advice.

MyCareSpace resources may not be replicated or reproduced in any form without express permission.