09 June 2023
Are you aware that Psychologists require Civil Liability Insurance to protect you against claims relating to the conduct of your professional advice, and Public & Products Liability to protect you against accidents and/or incidents on claims made against you?
insurance.com.au has a rare offering for Psychologists that combines Healthcare Professionals Civil Liability (Professional Indemnity) and Public and Products Liability. We have also taken the extra step of informing you and providing solutions for additional risks you may encounter when working online, or remotely.
These additional solutions are those that will protect your business from Cyber Security Threats.
So, how can Cyber Security Risks impact your practice?
Should your practice be struck with a Cyber Security Threat, your business may be impacted by the below:
Cost:
If your practice is hit with a Cyber Threat that results in stolen or compromised data, this can cause significant financial damage to your business, especially if a client’s personal account and payment details are intercepted.
Breaches of private or sensitive information about clients and/or staff members may find you in breach of legislation resulting in significant fines.
Loss of Productivity and Revenue:
A Cyber Threat will often result in a lockout of your professional servers. This results in operational systems and computers being unavailable. Furthermore, there is an inability for yourself or staff members to complete their jobs.
Additionally, if data is lost or corrupted, it is difficult to restore. This may result in a costly solution that takes quite some time to regain data, leaving you out of operation.
Damage to your Brand:
Once you have faced and conquered the above, the final but most important issue often encountered after a Cyber Security Threat, is damage to your brand.
With Cyber Security Threats, affected parties must be notified of security breaches. The inability to protect your operations and systems from such a breach may reflects poorly on your operations.
Once lost, trust in a brand is very hard to rebuild.
insurance.com.au is here to assist you in mitigating Cyber Security Risks, and the fall you may suffer after encountering a Cyber Threat. For more information on Cyber Liability Insurance, or to speak with a member of our team fill out the form below.
insurance.com.au is hosting a webinar for psychologists on the importance of Cyber Insurance And Your Practice. Looking to learn more about Cyber Insurance, register for our webinar here.
Our advice is general in nature, to read the full General Advice Warning Click Here.
insurance.com.au Pty Ltd ABN 27 163 909 073 AFSRN 443422 is an authorised representative of Insurance House Pty Ltd ABN 33 006 500 072 AFSL 240954