Under the Privacy Act 2009, it states under the privacy obligations that an organisation must take reasonable steps to protect personal information from misuse, interference, loss, from unauthorised access, modification or disclosure.
Appropriate steps should be taken to ensure third parties meet Privacy Act obligations.
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According to a recent CRN security report the average cost of a data breach per Australian organisation is MORE than 2.5 million per year, and rising. The average breach involves more than 20,000 records!
Cyber Breach Response Package
This is a unique insurance product aimed to benefit all corporations. It combines a incident response and cyber risks insurance solution providing crisis management cover such as IT security, public relations, customer notification, data recovery and network business interruption as well as third party protection from media, intellectual property and privacy liabilities including defense costs.
security
Improved Information Security Risk Management
Assistance with compliance with data security laws
Having an insurance response package demonstrates good risk management and good corporate governance. If you breach your duties as a director you are personally liable (sued if breached).
By implementing good risk management plans and demonstrating good corporate governance this will assist in complying to the privacy obligations under the 2009 privacy act and the ASIC guide.
London Australia Underwriting Pty Ltd (LAUW) is an Australian-based Lloyd’s underwriting agency established in 2005 with an established reputation for service and innovation.
Zirilio has partnered with Lloyd’s of London via LAUW to manage cyber incidents from initial investigation through to resolution. We work with a dedicated incident breach response team which includes specialist Lawyers, business income adjusting and public relations firms who all have significant experience to ensure the best outcome for the Insured.
Can you confidently say your business
is protected against security threats?
If not, contact us now to find out how we can help keep your organisation safe
