Ryan Clark leads a team focusing on keeping businesses safe and contributing new ways of protecting customers from emerging threats like cyber attacks.
There’s a quote that sums cyber crime up well: ‘there are only three kinds of companies in the world – those who have been hacked, those who are going to be hacked, and those who don’t know they’ve been hacked’.
New Zealand businesses tend to underestimate cyber crime. The reality is we’re just as much at risk because the internet simply has no borders. It can also carry some pretty substantial financial and reputational consequences, which typically aren’t covered in standard insurance policies.
We wanted to fill that gap, so I recruited a team of experts and in 2016 launched our NZI Cyber Liability product to provide our customers with greater protection from internet-based risks.
It means that when a customer experiences a cyber event – be it a hacking or ransomware attack, a virus, a privacy breach or theft of their data – they can access our 24/7 emergency helpline. They can get IT help to restore their systems. Or have their legal costs covered for liability they may incur. They’re also covered for loss of revenue during the attack and can even access a public relations expert to manage reputational damage.
We’re also helping protect our customers from risks within their business.
If their employee fires oﬀ a rogue tweet, posts inappropriately on social media, opens an email with a virus or accidentally shares private information, we connect our customer with a panel of experts who can help get them back up and running without suﬀering significant loss.
It’s about making sure we’re continuing to think how we can meet the liability challenges our customers face and developing new ways to protect them.