Personal Cyber Insurance for Individuals and Families

Personal Cyber Insurance for Individuals and Families

January 06, 2022 Views: 653
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Typically, Cyber Liability insurance policies have only been available to Businesses designed to protect business owners from the costs associated with a Cyber Crime intrusion into their network systems, a data breach, and the associated liability to 3rd parties that might have been affected.
In an Australian first Emergence Insurance is now offering a Cyber Crime Protection Insurance Policy for Families or Individuals. The policy is designed to cover several areas that are more relevant to personal and home network use.

What does a personal cyber policy cover?

Cyber Event Cover - if your home I.T. systems are compromised by a cyber event the insurer will cover the costs to secure and restore your data, credit, identity monitoring costs if required and up to $5,000 in extorsion costs.
Cyber Bullying Cover - costs associated with addressing the cyber bullying and guidance sessions.
Cyberstalking Cover - costs associated with mitigating the cyberstalking, forensic IT investigations, and legal costs relating to protection orders.
Identity Theft Cover - costs for an appointed professional to assist you with reporting the identity theft, re-establishing your identity and essential records.
Personal Crime Cover - cover for the personal financial loss to you from Cyber-theft, Sim-jacking* or Cryptojacking**
*Sim- jacking means hacking through unauthorised swapping of a sim card or unauthorised porting of a mobile phone number registered in your name that causes you a personal financial loss.

**Cryptojacking means the unauthorised use of your home IT to mine digital currency that causes you personal financial loss.
Reputation Cover - legal costs incurred in connection with cyber-harassment or to remove a harmful publication.
Wage Replacement Benefit - this section responds to cover unpaid wages because of the time you need to take off work for the purposes of meeting with law enforcement authorities, your bank or government agencies to deal with a Cyber stalking incidence, Cyber bullying , Cyber theft or Sim-jacking.

Who is covered under this policy?

The policy covers all family members that reside permanently at the insured address for the personal use of the home I.T. network.

What is the cost of this cover?

Premiums start at $100/year.

How do I get a quote?

There are a couple of ways to get a quote for this cover. 
Simply go to our Advisr profile or visit our website - and navigate to the - “Personal Insurance" page and click on the 'get a quote' button.
Click here to get a quote and learn more about this cover.

REEF INSURANCE BROKERS  |  PO BOX 750 Bungalow Q 4870  |  Mob: 0473 007 606  | |

The above information is very general in nature and should not be considered as personal advice, for a more tailored discussion about your circumstances please call us for a chat.

General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

Reef Insurance Brokers Cairns ABN : 48646410335, AFSL : 327131 , AR Number: 1285127, CAR Number: 1285126

Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Reef Insurance Brokers Cairns.

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