upcover launches Cyber & Privacy Liability product

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Founders of upcover

Cyber & Privacy Liability Insurance

upcover has worked with market leading insurance partners to launch Australia's first fully digital cyber security insurance offering for Aussie businesses. This insurance is available from upcover.com for cover of up to $5m Limit of Liability, for businesses with up to $7.5m revenue and 100 employees. Get an instant quote available in seconds and insurance that can be purchased in minutes.

At upcover, we’re all about helping small business owners manage risk so they can get on with doing what they love - running their business! Being in business today can be risky - especially when it comes to the ever increasing threat of cyber attacks. 

Cyber crime is on the rise - a cyber crime occurs  every 8 minutes in Australia. When the unexpected happens we know this can be disastrous to your business, your reputation, and even impact your customers. That’s why we’ve worked with our market leading insurance partners to help Aussie businesses protect themselves from cyber risk. 

With that, we’re thrilled to announce that businesses owners can manage their cyber liability risk with a Cyber and Privacy Liability Product now available on upcover.com.

What you need to know

What does Cyber & Privacy Liability insurance include? 

The market leading cyber insurance we offer is from our friends at ProRisk is underwritten by Swiss Re, and is available for up to $5 million. The Cyber and Privacy Liability insurance we offer is available for any business with revenue of up to $7.5 million, and with as many as 100 employees. 

Coverage includes: 

  • Cyber Incident Response Costs

  • Cyber Extortion and Ransom Payment Cover

  • Data and Application Restoration Costs

  • Cyber Crime

  • Business Interruption Cover

  • Data Breach Investigation Costs

  • Privacy Statutory Liability Cover

  • Civil Liability Cover arising from a Cyber Incident

Value added benefits: 

  • Privacy Policy Update Service

  • Contract Review

  • Whistleblower Hotline

Making a claim? 

When the unexpected happens you can rest easy - as cyber claims can be reported to our insurance partners’ award winning claims team 24 hours a day, 7 days a week, 365 days a year.

When you purchase a Cyber & Privacy Liability Policy on our upcover platform, you have access to our insurance partner’s award winning claims team, as well as their team of cyber incident managers, forensic investigators and loss adjusters who will help your organisation get back on track as soon as possible.You can read more about this here.

Examples of how this insurance protects your business from cyber crime:

  • Business outage: A cyber attack that locks you out of your system causes your business to shut down for a period of 3 months until it's resolved.

  • Ransom payment: Your system is hijacked and they hold your data ransom, threatening to delete it if you don't pay.

  • Incident response: Your data is breached resulting in information of thousands  of customers being leaked, damaging your businesses’ reputation. 

Skye Theodorou, upcover’s Co-Founder and Chief Executive Officer, who has spent over a decade in insurance, said “we’ve worked with our award winning insurance partner, ProRisk, to help bring this market leading cyber insurance product online, and into the hands of every day Aussie businesses. Today, we are the only insurance only platform that can offer a cyber and privacy insurance product to businesses - with instant quotes in seconds and purchasing all completed in minutes.”