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  • Nalini Reddy

Cyber Insurance , lets discuss Breach of Privacy

A lot of organisations hold personal information which belongs to clients, customers, suppliers and third parties. Unfortunately , hackers are often looking for personal information.

Medical practices (including hospitals) are often the subject of cyber attacks because they hold personal information which cannot be altered and which can be used for the purposes of fraud.

If you hold personal information and that information is the accessed by a hacker, there has been a notifiable data breach which has to be notified to the Office of the Australian Information Commissioner and to the affected individuals. The cost of providing this notification can be high and it can be an onerous task to notify individuals particularly when they are former clients you may have lost touch with.

Cyber insurance can be an important tool in managing the notification process.

Any client who holds personal information needs this kind of cover.

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