Crime and Computers – an unhealthy relationship 

How will your business handle a potential cyber attack?

By Gow-Gates Insurance Brokers
Computers are now an integral part of all travel businesses. Computers save time, allow easier work flow, store a greater amount of information on clients (both individual and commercial), plans and marketing for the future, financial information and numerous other matters. There is no limit on the amount of information that can be retained.

Computers are everywhere but the result of this great expansion has unfortunately created a new dishonest opportunity for Cyber Crimes. Every person who utilises a computer has received the unusual or unidentifiable e-mail. Most are handled adequately however some because of the inviting or inquisitive sub titles may get opened with the potential result ‘Our computer has been hacked’.

Consider the consequences

• Client credit / debit card numbers of clients
• Dates clients are away on trips
• Identity information on clients / employees
• Your own sensitive data / intellectual property such as client lists, marketing and business plans now in the hands of competitors
• Shut down from a denial-of-service attack, result - loss of business
• Extortion demands
• Privacy Issues
  

Following a security breach, all of the above could potentially be in the hands of hackers, extortionists or be taken by dishonest or disgruntled employees.

Protect yourselves

It is crucial that the risk of Cyber is considered by your business. Whilst insurance can protect from the financial loss to your business it is important that you are vigilant in the security of your computer networks (from anti-virus protection, firewalls and even staff passwords). It may be prudent to seek the advice of a professional IT Consulting firm.

In addition you should have in place a Data Breach Protection Plan for your organisation in written format, shared with your staff so that all are aware of what needs to be done in the event that you are victim of a Cyber attack. A good source of information is provided by the Australian Information Commissioner at www.aoic.gov.au with details on Data Breach Guides and what to do.

Cyber Insurance is a great support, takes away the worry, assist in how to contain the breach, understand the breach, who to notify. Covers your liability to third parties for compensation arising from the breach and many other costs. Please contact Rebecca Fleming, Account Manager or our Travel Industry Division at Gow-Gates Insurance Brokers Pty Ltd on (02) 8267-9919 or rleming@gowgates.com.au to discuss alternatives.