What We Do
  /    /  Cyber Insurance
cyber insurance

What is Cyber Insurance?

In today’s world, cyber risk is not just limited to business that are focused on the IT/online spaces. Most businesses have a wide range of cyber-based exposures threatening them from a financial and operational stand-point and the likelihood of these threats are quickly overtaking losses from a fire or flood. In turn, Cyber insurance has become an integral component in protecting a business from loss.

The number of files, systems, programs, processes and marketing that are based online now exceeds those that are not. Taking this into account, Cyber insurance has never been more important. This coverage offers more than just protection for viruses and hacking – it offers protection for the wide range of possible cyber-based attacks and resulting financial losses affecting a business. It focuses on protection from cyber-attacks, privacy breaches, cyber theft & crime, physical damages to hardware, damages to IT systems & information, cyber liability, business interruption costs, defense costs, and more.

How does the Coverage work in a Cyber Policy?

When considering the Cyber exposures affecting a business, there are numerous occurrences that directly affect a business. There are then several indirect losses that can spin-off from these cyber-attacks. See below for a breakdown in the coverages that are included in a typical Cyber Insurance policy:

Direct Losses

Cyber Events

1. Cyber Attacks

Viruses (Crime ware & Malware)



Cyber Espionage / Extortion

2. Cyber Crime (Optional Cover)

Cyber Theft & Loss of Money, including occurrences caused by transferring funds, establishing credit, fraudulent activity towards electronic data/information, etc.

Crime by former employees

Telephone Phreaking (hacking of phone system resulting in unintended charges)

3. Physical Damages

Physical Theft and Loss

System Damage to IT Systems, Records, Data, including repair costs

Payment Card Skimming

4. Multimedia Liability

Liability from libel, slander, defamation, etc.

Copyright & trademark Infringement

Liability related to online marketing & advertising)

Indirect Losses & Mitigation Costs

Business Protection

Business Interruption

Defense Costs and Legal Expenses

Civil Fines and Penalties

Data Restoration & Securing Costs

Privacy Breaches/Breach of Statutory Duties – Fines, Investigations & Breach Notifications

Why KBI?

At KBI, we have leveraged our networks, strong relationships and our insurance/risk management knowledge of the Cyber Insurance market to customise insurance solutions that benefit our clients. With an experienced team that has a deep understanding of Cyber Insurance, we provide expert advice to make the insurance process seamless and help our clients better understand their insurance program – helping them make an informed decision.

Cyber Team

directors and officers insurance

Travis Kenzle

Managing Director
directors and officers insurance

Tyler Speers

Account Manager

Contact Info

Street Address:

Level 18, 140 St. Georges Terrace, Perth, WA, 6000

Postal Address:

PO Box Z5102, St. Georges Terrace, Perth WA 6831

Get in Touch with our Brokers:

Click the button below to find out more about our people, their experience and their accomplishments.

Get in Touch