WARNING: The Australian Parliament enacted the Privacy Amendment (Notifiable Data Breaches) Bill 2016. Amongst many things, it means:
- For any data breach, all relevant organisations must:
- Report the data breach to the Government’s Privacy Commissioner; and
- Notify all affected customers.
- Penalties for non-disclosure range from $360k for responsible individuals to $1.8m for organisations.
This new law starts once signed by the Governor General.
Prevention is better than the cure but when it goes wrong, our stand-alone Management Liability policy can assist. Cover includes:
- Directors & Officers Liability to the full limit
- Entity Cover to the full limit
- Employment Practices Liability to the full limit
- Cyber Liability to the full limit
- Crime Cover with a $250,000 sub-limit
Please note – private companies only (i.e. Pty Ltd)
This risk may qualify for our stand-alone Management Liability policy. Kindly have the Insured complete the Management Liability short-form application and return it to email@example.com so we can determine if the risk fits our appetite and if so, issue a formal quote. Any quote (including premium, cover and limits/sub-limits) will depend on the underwriting information.