Computer or Network Crime

Computer or Network Crime cover protects against financial loss caused by criminal misuse of computer systems. This includes unauthorised entry into a system and attacks using malicious code. It also covers fraudulent electronic instructions and data changes made to trigger a financial transfer. The cover responds when outside criminals break into business systems to steal funds or redirect payments. Cyber liability insurance is different. It covers third-party liability and the cost of responding to an incident. Computer crime cover focuses on the direct financial loss to the insured business itself. Common scenarios include hackers who access banking systems to move funds. Other examples are malware that alters payment instructions, and fake emails that look like they come from a trusted source. Computer crime is becoming more common in Australia as more payments move online. This cover works alongside cyber liability insurance. It handles the direct money lost in a cyber incident. Cyber liability insurance handles the third-party claims and the response costs instead.

Computer or Network Crime cover protects against financial loss caused by criminal misuse of computer systems. This includes unauthorised entry into a system and attacks using malicious code. It also covers fraudulent electronic instructions and data changes made to trigger a financial transfer. The cover responds when outside criminals break into business systems to steal funds or redirect payments. Cyber liability insurance is different. It covers third-party liability and the cost of responding to an incident. Computer crime cover focuses on the direct financial loss to the insured business itself. Common scenarios include hackers who access banking systems to move funds. Other examples are malware that alters payment instructions, and fake emails that look like they come from a trusted source. Computer crime is becoming more common in Australia as more payments move online. This cover works alongside cyber liability insurance. It handles the direct money lost in a cyber incident. Cyber liability insurance handles the third-party claims and the response costs instead.