“Just about every business today needs cyber insurance,” said Bob Hartwig, president of the Insurance Information Institute. “More and more businesses are transacting online and the reality is it’s only going to increase as we move forward.”
Any company with operations in Australia, EU, Japan, New Zealand, Korea, Hong Kong, Taiwan, Malaysia and the USA where data protection legislation is onerous should consider Cyber Insurance.
With recent data breaches hitting the headlines across the Asia Pacific/Oceania region, loss of personal and corporate data has far-reaching effects that could potentially change the way business is carried out all over the world.
The impact from the loss of corporate data and information such as intellectual property and proprietary information, which in the hands of a competitor, or even an extortionist, can severely disadvantage businesses.