IBM reported, ‘The average cost of a data breach in Australia is AU$4.03 million.’ However, the impact of a breach is not just financial; it also significantly affects your business’s reputation. Even some of the world’s largest and technologically sophisticated companies and governments have suffered attacks, such as eBay, Facebook, LinkedIn, and Yahoo. In September 2023 alone, there were 3.8 billion breached records, with the UK Electoral Commission accounting for 40 million breached records.

It’s fair to say that it’s not a matter of if, but a matter of when your business will be affected by a cyber-attack. You may already be potentially affected, but you just don’t know it. As cybercriminals become more sophisticated, companies are finding it increasingly difficult to manage this potential risk, not only to their systems but also to their businesses.

Our Business Leaders ‘Cyber Security Self-Assessment Checklist’ will help you ask the right questions and understand your business’s cyber landscape and potential vulnerabilities. Then allowing you, as the Business Leader, to ask if your Cyber Risk insurance covers all exposures to your business.

Reach out if you want greater confidence that you have protected your business and the ongoing livelihood of both yourself and your employees. After all, no one has $4 million to spare for a cyber breach!

*Source : IBM Cost of a Data Breach Report, 2023

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4Sight Risk Partners delivers value to our clients by securing benefits through the expert management of risks. With over 75 years of global risk and business expertise, our proprietary IQ-ARTA Framework provides qualified risk profiles and quantified risks, empowering clients to make confident, informed decisions. Leveraging a global network—including subject matter experts and leading insurers like Lloyd’s of London—we deliver tailored, practical solutions to tackle diverse challenges across industries.

We are dedicated to delivering exceptional service and building long-term partnerships, strengthened by Insurance Advisernet’s award-winning network. With trusted advice and unwavering advocacy, we provide clients with clarity, confidence, and are proud to uphold a 97% client satisfaction record.

We welcome your call to discuss how we can help drive your success.

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For more information please visit: 4sightrisk.com.au

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