Cybersecurity is important - safeguard your business future

Cyber-attacks are hitting small organisations hardest

According to Australia’s Cyber Security Centre one cybercrime report is logged every 10 minutes. The average incident cost for small businesses category is about $49,600 while for  medium ones is $62,800. 

Insurance companies won’t pay if minimum controls are missing

Most insurers now stipulate that claimants must have established and maintained certain security controls. Before issuing or renewing a policy, insurers typically assess a business’s cyber hygiene. If the assessment finds inadequate controls, the insurer may refuse coverage or impose higher premiums and more exclusions. 

40% of claims were declined in 2024 for companies missing industry-standard basic controls at the time of the incident. 

The Insurance Council of Australia endorses the Essential Eight as a baseline, and insurers expect businesses to, at minimum, address those controls to be eligible for coverage.

Reputational and Operational Impacts

When a business skips required cyber safeguards or suffers a data breach, the damage spreads quickly: customers may stop trusting you, sales can fall, and partners or vendors might walk away. Managers and staff must put regular work on hold to deal with regulators and lawyers, draining time, money, and focus. 

In severe cases, authorities can suspend or revoke your business license, bringing operations to a standstill. The stress and uncertainty also sap team morale and make it harder to keep talented employees.