Risky Business

May 2013

People on Hand

Q. How much extra does it cost to deal with one of the Top 30 Insurance Brokers in Australia?

A. Nothing. We are not putting our prices up, but I do need a car with more headroom! Please read below.


  Insurance News 

Elite Broker

Robert Cooper Named as Elite Broker

Robert Cooper of CPR Insurance Services has been named one of Insurance Business magazine's inaugural Elite Brokers.


The new issue of Insurance Business magazine was released on 1 May 2013 and he is featured in the cover story: 'Australia's Top 30 Elite Brokers' scraping in to 30th position.


Their survey ranked brokers on a range of metrics, including:
* premium income
* revenue per client
* industry awards and recognition
* number and value of policies written
* number of new clients during 2012


A place in the Insurance Business Elite Brokers ranking is a recognition of his professional standing as one of the leading brokers in the Australian insurance market.


CPR Insurance Services knows that if it was not for the valuable support of all their clients, this tremendous accolade would not have been achieved. Thank you to all our valuable clients.
Click here to read the article.


5 Ways to Protect your Business from Cybercrime

When I talk to small business owners about Cyber Risks, many think they are unlikely to suffer from any type of cybercrime.
They think that hackers are more likely to be after bigger fish. A recent survey by Symantec found that 77% of small and medium-size businesses believe they're safe from hackers, viruses and malware. And 83% of Small to Medium Enterprises take no formal measures against cyberthreats - even though almost half of all attacks are aimed at Small Businesses.

In fact, many people don't even spend five minutes to come up with a secure password. The two most common computer passwords today are "password" and "123456".


Protecting your systems, data and hardware may cost time and money. But the consequences of a cyber attack can be far more expensive. You have a duty to all stake holders to protect your business from such threats.


There is now Cyber Insurance available for small to medium business which can take some of the worry away, but you can still do some things to reduce the risks.


Here are five tips you can take to assisting in protecting your small business from cyber risks.


1. Deal with the weak points. Passwords are the best place to start. Then there are Firewalls. Click here to read more.


2. Set up banking-only computer. One easy way to fight fraud is to use a dedicated computer for all online financial transactions. Click here  to read more.


3. Back it up. Cloud computing and other Internet technologies, backup services for data are now quite a cost-effective way of storing data off-site for small-business owners. Click here to read more.

4. Educate employeesEmployees are your first line of defence against cybercriminals, however they are also potentially a large security risk. Click here to read more.


5. Get insured. No matter how hard you try, you'll never be completely safe from cyber risks. So your last line of defence is transferring the risk to insurers. Click here to read more.


You can get an insurance policy that covers any losses such as cybercrime and computer fraud in a Commercial Crime policy, to defamation and infringement of copyright within a Multimedia policy. Then there are more comprehensive covers that cover "first party" losses such as a server or website being shut down.


Then "third party" losses such as confidential client information being released and the resultant breach of confidentiality claim. All which can be covered within a Cyber Insurance policy. 


There are limited markets for this type of cover at present but cover is available. It will be interesting to see if it takes off in Australia.


Sounds Like Pun


I'm reading a book about anti-gravity. I just can't put it down.


I changed my iPod's name to Titanic. It's syncing now. 


I know a guy who's addicted to brake fluid. He says he can stop any time.


I stayed up all night to see where the sun went. Then it dawned on me.


This girl said she recognized me from the vegetarian club, but I'd never met herbivore. 


See you next month.




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