Cyber Risk and your NDIS Business | MyCareSpace
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Cyber Risk Insurance can protect your NDIS business

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CLICK FOR AN INSTANT QUOTE 
Get $5 discount off your annual premium

You will need:
1. Your ABN and an estimate of your Yearly Income (How do I calculate this?)
2. TIP: You will find the CYBER INSURANCE option within the list of "Other Covers"

 

Cyber insurance is more important than ever when preparing your NDIS business for the additional risks a pandemic like Coronavirus brings.

According to the Australian Cyber Security Centre (ACSC), a cybercrime is reported every 10 minutes resulting in $328 million worth of losses to businesses last year.

This was before the Corona Virus implications have forced us to move our services online and send our staff home to work remotely, thus increasing the cyber risk that businesses face.

Not only does Cybercrime result in a financial loss to a business, but many businesses rely on word-of-mouth and maintaining a good reputation so this loss of trust, and potential abandonment could absolutely have your business circling the drain.

NDIS providers are encouraged to carefully consider if they need and have Cyber Insurance Cover to protect themselves against the additional risks they face when delivering information and services online.

Every business with an online presence is at risk of a cyber-attack.

How will Cyber Insurance protect my NDIS business?

Through MyCareSpace’s trusted insurance partner, BizCover, you can choose a Cyber Liability Insurance Policy* that will:

  • Provide protection from the financial impact from claims in the event of a cyber breach or attack
  • Cover the business interruption cost - lost profits as a direct result of a cyber attack e.g. loss of income, business expenses, increased cost of operating your business 
  • Cover Data recovery costs
  • Cover some Fines and penalties
  • Cover Defence costs associated with a cyber claim
  • Cover PR and crisis management costs

How do I get Cyber Insurance cover for my NDIS business?

Our insurance partner Bizcover can help you add a Cyber Liability Insurance Policy* to your existing NDIS insurance package.

They can also provide you with other insurance options including public liability, professional indemnity, and additional products like:

Ask an agent today!

Call 02 8287 6576

or to get a quote online use the button below

CLICK FOR AN INSTANT QUOTE 
Get $5 discount off your annual premium

You will need:
1. Your ABN and estimate of your Yearly Income (How do I calculate this?)
2. TIP: You will find the CYBER INSURANCE option within the list of "Other Covers"

 

Consider this scenario

A cyber attack brings your business systems to a grinding halt.

But this could be the least of your worries.

In addition to your business being crippled, your participant data has been compromised or even worse, stolen.

As an NDIS Provider, you are most likely collecting:

  • personal, identifiable participant information 
  • participant health information
  • information about confidential NDIS plans

As a result of this cyber attack, multiple claims are made against your business, with participants suing for breach of privacy.

You will need a lawyer to defend your NDIS business against these claims and you will need to pay a cybersecurity/IT firm to repair your business systems to bring you back online and help ensure it doesn't happen again.

The reputational damage is something that cannot be insured, but the financial impact can be minimised  through insurance so your business can get back up and running quickly

 

Consider this scenario

Your business system and email is hacked. The personal details of all your NDIS participants are stolen, including their names, surnames, DOBs, and emails. 

The scammers send an email from your organisation asking participants to enter their bank details or Medicare numbers. It looks like it came from you and they trust you, so they enter the requested information.

As a result of this cyber attack, multiple claims are made against your business, with participants suing for identity theft resulting in breach of privacy and more.

You will need a lawyer to defend your NDIS business against these claims and you will need to pay a cybersecurity/IT firm to secure your business systems to help ensure it doesn't happen again.

What does this Cyber Insurance policy include

  • Unintentional or "inadvertent" loss or release of a customer’s personal information

  • Cyber crime

  • Cyber extortion/ransomware

  • Business interruption due to a cyber event

CLICK FOR AN INSTANT QUOTE 
Get $5 discount off your annual premium

You will need:
1. Your ABN and an estimate of your Yearly Income (How do I calculate this?)
2. TIP: You will find the CYBER INSURANCE option within the list of "Other Covers"

 

The information you hold about your NDIS participant data is sensitive and critical. If you don’t protect it properly, your NDIS business may be increasingly more vulnerable to cyber criminals than you realise. 

If you’re still not convinced your business may be at risk, consider the cold hard facts about doing business in today’s technically advanced world: 

  • Cyber crime costs Australian businesses $1 billion annually – yet it remains one of the least insured policy areas.
     
  • ‘Unisys Security Index – Australia, 2019’ revealed that 15% of Australians would stop dealing with an organisation if their data was breached.

*As with any insurance, cover is subject to the terms, conditions and exclusions contained in your policy document. The information on this webpage is general only and should not be relied upon as advice.

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