Cyber Hub.

Cyber attackers are evolving their business models to create more sophisticated, three-staged attacks.

They use data exfiltration and encryption, followed by extortion, to steal organisations’ funds.

When a cyber incident occurs, timing is paramount – every second counts.

Fast action to minimise the loss and manage the ramifications can play a major role in limiting the size of the claim, the length and cost of business interruption (BI) and the damage to brand and reputation.

Pioneers in cyber underwriting, Emergence, have today released a whitepaper titled: Personal cyber insurance: the smart solution to countering cyber crime.

The paper highlights 88 percent of the Australian population use the internet and 71 percent use social media[1] providing fertile ground for criminal activity and antisocial behaviour to take place online.

Cyber criminals are exploiting the global focus on Covid-19 and the massive increase in working from home to infiltrate networks and extort money.

The extent was outlined in an Emergence Insurance webinar, themed a tale of two viruses, presented to 1,300 brokers and their clients on 20 May.

Cyber specialist Emergence Insurance is celebrating its fifth year in business with a new image.

Emergence has progressed from a start up in 2015 to a fully fledged underwriting agency.

On 11 March 2020, the World Health Organisation declared the outbreak of COVID-19 a pandemic, and the emergency has continued to escalate.

Businesses around Australia are seeking ways to protect their staff from COVID-19.