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FBAA urges brokers to secure cyber insurance
23rd April 2024
FBAA urges brokers to secure cyber insurance
The Finance Brokers Association of Australasia (FBAA) has urged mortgage and finance brokers to prioritise data security and ensure they have adequate protections.
The association has flagged that cyber attacks can affect all businesses, not just larger national companies and that brokers should ensure they have insurance in place to cover the costs of any attacks.
FBAA managing director Peter White AM said that brokers should protect their data using specialist cyber security insurance – and not rely on their professional indemnity (PI) insurance for data protection – as some PI insurance does not cover attacks.