Breaking News: China has been blamed for a ‘massive’ cyber attack on Bureau of Meteorology supercomputer. Yet another incident highlighting the critical nature of Cyber Insurance within your Business Insurance Program.
It has today been reported by ABC News that a ‘massive’ cyber attack has occurred at the Australian Bureau of Meteorology.
It is alleged that the attack has compromised multiple sensitive systems throughout the Federal Government.
Initial reports have indicated that repairs to ‘patch up’ this severe security breach are predicted to cost millions of dollars, with the incident affecting additional federal agencies as well.
This incident is yet another stark reminder to all businesses that regardless of your size, or the cyber security measures you have in place, there is no 100% guaranteed way to protect your computer systems.
Do you have a Crisis Management Plan?
If your business is connected online, it is critical for Cyber Insurance to feature as part of your insurance and risk management program.
A data breach will not only affect your business, it can have a serious impact on your clients and customers.
Misplaced iPads or iPhones, stolen credit card numbers, financial reports, medical records, and the loss of sensitive personal data can leave you unable to operate and held liable (at both a company and individual level) – potentially exposing your bottom line to significant damage and a tarnished reputation.
Unfortunately, cyber threats will continue to escalate as cybercriminals develop increasingly sophisticated techniques, and businesses become progressively dependent on linked services and devices.
You may not be able to control the actions of cybercriminals, but you can take control by insuring your business against the risk.
Click here to the read the original article featured on the ABC News website.
Source: ABC News 2015 http://www.abc.net.au/news/2015-12-02/china-blamed-for-cyber-attack-on-bureau-of-meteorology/6993278