Cyber Security is a very real issue for businesses in New Zealand these days. Here we look at Cyber Insurance, what it is, what the laws are, and why you need it.
Cyber attacks on businesses in New Zealand are increasing in both sophistication and frequency. High profile companies like Air New Zealand partner Travelex, Fisher & Paykel Appliances, Toll Group, Garmin, Canon, Honda, BlueScope Steel, Lion, transport giant Toll Group, Twitter, MetService and most recently even the NZX, are just some of the organisations to have been targeted by cyber criminals. However it is not just the big companies, many small businesses are also being targeted. It really is a matter of ‘when not if’.
Cyber insurance is designed to fill the gap that traditional insurance policies don’t cover, minimising the impact of cyber incidents by providing cover for your own loss and third party costs. It provides your business with a structured crisis response plan and assists with returning to ‘business as usual’.
General liability insurance covers bodily injuries and property damage resulting from your products, services or operations. Cyber insurance is often excluded from a general liability policy.
It pays to check your current policies and ask questions. You may find that your other business cover won’t respond to a cyber or data breach claim.
The new Privacy Act 2020 which came into effect on 1 December 2020 means that all businesses now have legal requirements surrounding
The new Act requires mandatory data breach reporting if it’s reasonable to believe that the breach would cause serious harm to an individual. For example: If you’re engaging with a service provider to hold your clients’ personal data, for example a cloud-based CRM system, you remain responsible for the security and use of that personal information. If a Cyber breach were to occur, you would be held liable.
Ensuring business continuity and safeguarding your business from Business Interruption will enable you to return to the same financial position you were in before a Cyber event.
The benefits of Cyber Insurance will depend on the type of policy you take out but can include:
– Access to a dedicated and experienced team of experts if an attack occurs
– Protection from loss where you are legally liable to others
– Cover for your financial loss if your business is interrupted due to a Cyber event.
Like most insurance, premiums vary by insurer, the type of cover selected and your risk profile. As an estimate a policy with $100,000 cover could cost as little as $600 per annum.
All businesses need a security plan to protect their business and they should consider a Cyber Insurance policy as an essential part of this plan.
CERT NZ has a number of useful and practical resources for businesses on keeping systems and data safe from cyber security attacks, including cyber security risk assessments for business, cyber security awareness for staff, phishing scams and your business and protecting your business online.
CERT NZ offers the following tips for simple, practical steps for businesses.
For more info and links click here:
Cyber Security is a very real issue facing business owners these days. If you would like to discuss your individual needs, we provide advice to business owners and security assessments to ensure that your business has the best protection.
Please feel free to reach out to us here.
Written by: Peter Marshall, Voicecom Technologies
If you have Microsoft 365 for business, we want to make sure you’re making the most of it. You’re already paying for the subscription so why not take advantage of a whole suite of integrated applications that can streamline your workflows?
While remote work has been a key driver for Otago businesses to adapt the way they work and assess the systems they use, along the way they’ve realised that these apps not only offer remote capabilities but also the opportunity to integrate apps and business processes to allow them to better serve customers, streamline work, and improve employee productivity.
Microsoft SharePoint – SharePoint can seem overly complicated because it can offer so much. But it doesn’t need to be so scary. You can start small and use more functionality as needed or as you grow. Basically, it’s a platform that offers content management and collaboration. It helps with reducing duplicate files, gives you remote access (needed more than ever!) and allows you to work on the same document at the same time. Find out more about SharePoint here.
Microsoft Power Automate – Microsoft Power Automate allows you to automate workflows across applications. You can use it to connect email and instant message alerts, synchronise files between applications, copy files from one service to another, collect data from one app and store it in another, and much more. Templates are available to get you started. Efficiency is key for sustained success across businesses and Power Automate assists this by simplifying workflows with the automation of repetitive tasks.
Microsoft Forms – Forms allows you to create shareable surveys, quizzes, and polls in just minutes. You can then invite others to respond to it using almost any web browser or mobile device, see real-time results as they’re submitted, use built-in analytics to evaluate responses, and export results to Excel for analysis.
Microsoft Planner – A simple, visual, task management app that helps remove chaos from the team collaboration environment. You can create multiple task lists associated with different projects or set up daily to-do checklists.
Microsoft Teams – a chat-based workspace that integrates people, content, and tools into a single platform. Find out more about Teams here: https://ita.co.nz/microsoft-teams-more-just-video-conferencing
Microsoft OneDrive – OneDrive is essentially an online folder system for file storage. Similar to SharePoint however SharePoint offers much more in the way of collaboration. You might use OneDrive to save your personal drafts and then move them to SharePoint when you’re ready for collaboration.
Microsoft Lists – Helps you track information, organise your work and easily share with others. Lists are simple, smart, and flexible, so you can stay on top of what matters most to your team. Track issues, assets, routines, contacts, inventory and more.
Microsoft Stream – Your central destination for your business video content. It’s like an internal, secure YouTube for your business. This is the perfect place to keep things like training videos or marketing content for staff to easily access.
Microsoft Sway – Sway is a cloud only story-telling application similar to PowerPoint but provides more narrative options than a slide show.
Microsoft Whiteboard – A digital version of the traditional whiteboard that allows collaboration and brainstorming with your team in an interactive and engaging manner.
Microsoft MyAnalytics – Uses your data to provide insights into two of the key factors in your personal productivity: how you spend your time and who you spend it with. MyAnalytics takes a look at your everyday work patterns, finds areas that could benefit from your attention, and provides you with the tools to achieve more thoughtful use of your time.
Microsoft Power Apps – If your business needs a specific app to do a specific job, this is what PowerApps can do. Using simplified development techniques and with the help of your IT expert, you can create sophisticated applications using features, procedures, and processes found in Microsoft 365.
If you want to find out more about how any of these Microsoft 365 applications can benefit your business, contact us today on +64 3 443 5499. If you’d like to visit or email us, you can find our details here.
Do you find yourself so caught up in other areas of your business that you tend to only manage your IT when things go wrong or it becomes an absolute must?
This is called reactive IT Management. With it, brings a mountain of stress, disruption and blown budgets.
A proactive approach to IT management doesn’t have to be difficult or expensive. In fact, it can save you money and keep you focused on doing what you do best.
This is where a Managed Service Provider steps in. They’re not just the guy you call in for computer repair, they’re essentially an extension of your team. An MSP is there to support you and ensure the IT side of your business is efficient, cost-effective and low-risk. Let’s look at some of the benefits of proactive IT management and why businesses in Otago might want to move away from a more reactive response.
Large, unexpected IT bills can often be avoided with a good plan in place. A Managed Service Provider can help prevent the unnecessary cost of fixing things by implementing a plan with regular, scheduled maintenance. Additionally, they can give you the tools to effectively manage your IT life cycle, forecasting hardware and software upgrades. With a fully prepared life cycle, IT budgets can be planned in detail for years to come. Everything from printers to operating systems can be prepared on a tightly controlled schedule. Adopting an IT life cycle is a great way to eliminate unwanted surprises and make the most out of your IT budget.
There’s nothing worse than when you get halfway through the day and you realise you’ve spent most of it troubleshooting or dealing with an IT issue. Can you imagine how frightening the numbers would be if you calculated the total number of hours lost due to IT-related disruption? A Managed Service Provider’s core purpose is to lessen this disruption and would likely pay for themselves rapidly. An MSP often does routine maintenance outside of hours so when you log in the next morning, you’re good to go! They’re your Clark Kent, unobtrusively making things happen in the background and quickly embracing their capes should anything big arise.
Something stops working at the worst of times and you find yourself giving an IT technician your full operational history to help you both connect the dots of where things went wrong. Sound familiar? The great thing about an MSP is that they get to know your business, and more importantly, have a detailed documentation process. The team will get to know your business and you’ll often be dealing with the same technicians who know you and your systems. Having an intimate knowledge of your site’s configuration and a detailed service history means they’ll spend less time troubleshooting and more time working on the job. Familiarity when working regularly on a system means clients are not paying for a technician to relearn the basics for each job or call out. As an added bonus, when you partner with an MSP, the charge is often much less than the hourly rate of one-off call outs.
In the technology space, there are changes and updates left, right and centre, often leaving you overwhelmed. This leads to you either falling behind with your IT services or purchasing things your business may not need. A Managed Service Provider is across all things IT, so you don’t have to be. You have the option to meet on a regular basis to discuss and review appropriate changes or updates that should be considered to your IT infrastructure. They know what’s happening in the industry and can guide you according to your specific needs. They’re not about telling you that all your computers need to be updated with the highest spec and most expensive models. In fact, an MSP will get to know how you operate with an audit and provide you with a plan on where you can best spend and save money. They’re about plans with priorities and delivering a solution according to budget.
If you’d like to find out more about how a Managed Service Provider can help you move from reactive to proactive IT management, contact us today on +64 3 443 5499. If you’d like to visit or email us, you can find our details here.
The IT Alliance are a group of nationwide partners that banded together to offer businesses high-quality, flexible support with a local touch. They are small enough to feel part of your team but backed by a bigger organisation and network of support. It doesn’t matter if you’re located in Otago or on the road across the country, they have the infrastructure set up to ensure you’re covered with all things IT.
How great is it that technology allows us to remote in and help clients at the drop of a hat? Although remote support is an excellent tool, sometimes an on-site visit is what you need. After all, it might be a little too much to expect Frank from accounts to troubleshoot why his keyboard isn’t connecting to his docking station, which isn’t connecting to his laptop, which is only connecting to one of his two screens, which seem be missing some cords?…you get the idea!
All of the partners in the IT Alliance pride themselves in providing, fast, high-quality local support. They’re focused on building long-lasting client relationships and working with you to ensure IT is strengthening your business, not obstructing it.
As a group of 12 independent IT companies across New Zealand, the IT Alliance work together as a group to deliver products, projects, training and support throughout New Zealand. Regular meetings during the month are held where specialist knowledge is shared among members and then passed onto clients from a local source.
Having partners that can reach the entire country means there are no limitations to servicing your business. Whether you’re travelling and need help, or have staff based around New Zealand, they can provide you with flexibility by supporting you no matter where you are.
The issue with partnering with a single, large IT company is that you can often get lost in the noise. Partnering with a member from the IT Alliance means you’re getting the benefits of small and local but also the access and knowledge of big and broad. Smaller and local offers agility, with the capability of changing and adopting new technologies at a faster pace, bypassing lengthy procedure. Additionally, you’re not paying a premium to support a single large organisation that has substantial overheads to cover.
A collaborative approach is critical with the fast-paced nature of the IT space. The IT Alliance team are backed with a wealth of knowledge and varying specialties. This means they each bring something unique to the table and can share the most important information with each other rather than wading through the sea of updates and changes the industry consistently presents. The core purpose of the partners coming together frequently is to brainstorm, explore all points of view, share experiences, stretch perspectives and challenge the way things are down. All with the objective to ensure the best possible IT solutions are offered to their customers.