Working with Australian businesses of all sizes, Emergence equips brokers with the tools and technology to protect their clients with ease and efficiency.
The local experts
in global cyber
- Emergence Broker Brochure
- Policy Coverage Summary
- Claims Examples
- Claims Examples – Criminal Financial Loss
- Social Engineering Brochure
- Notifiable Data Breaches Scheme Snapshot
- Incident Response Brochure
- Policy Comparison
- Summary of Key Changes from CEP003.1 to CEP004
- Summary of Key Changes from CEP003.1 to CEP004 - detailed
- No Claims Declaration
- Summary of Key Changes from CEP003 to CEP003.1
- Summary of Key Changes from CEP002 to CEP003
- Cyber Event Protection Policy CEP004 – pre 8 March 2021
- Cyber Event Protection Policy CEP003.1 – pre 6 April 2020
- Cyber Event Protection Policy CEP003 – pre 6 May 2019
- Cyber Event Protection Policy CEP002 – pre 20 Aug 2018
- Cyber Event Protection Policy CEP001 – pre 1 April 2017
- Cyber 1st Aid Policy 003 – pre 8 March 2021
- Cyber 1st Aid Policy 001 – pre 20 Aug 2018
- Cyber Excess Protection Policy CXP-001 - pre 8 March 2021
Extortion AttemptClaim scenario
A malicious actor pretending to be tech support gained access to a manufacturing plant’s computer systems. That enabled them to pose as an insider, eventually gaining access to highly restricted information including customer trade secrets, bank details and other sensitive personal information. The hacker threatened to sell trade secrets to competitors and banking details on the black market, and make sensitive personal information public – unless the insured paid.Cyber event protection solution
Cyber Event Protection covers key response costs, including IT forensics, crisis management and public relations, notification costs, credit and identity monitoring, and pursuit costs against the perpetrator. It also covers mandatory data breach notifications, including notice to regulators because of the manufacturer’s failure to keep information secure. Defence and settlement costs for third party claims made against the insured are also covered.
Cryptolocker AttackClaim scenario
An employee clicked on a plausible email attachment which unleashed a CryptoLocker virus. That prevented the nursing home from operating its systems.Cyber event protection solution
Cyber Event Protection provides coverage for IT forensic technicians to remove the virus, restore the data, and secure the IT systems. Resulting loss to the business from decreased revenue or increased costs is also covered.
A retail clothing store operated an E-commerce website which became infected with malicious code. As a result the website showed black screens to customers and staff could not access orders in the system.Cyber event protection solution
The policy covers removal of the malware and restoration of the website. The impact of lost revenue and increased costs caused by the attack is also covered.
Tangible PropertyClaim scenario
A property manager’s server suffers heat damage during a cyber attack and is no longer suitable for commercial service.Cyber event protection solution
Optional Tangible Property coverage covers the cost of repair or replacement of the damaged equipment.
Contingent Business Interruption - supplier outageClaim scenario
An external supplier of a bedding manufacturer suffers a CryptoWall malware attack. Its ‘just in time’ manufacturing plant grinds to a halt for three weeks while engineers and IT experts scramble to restore systems and production. As a result of the supplier’s cyber event, the insured could not source critical components and manufacturing operations were interrupted.Cyber event protection solution
If Contingent Business Interruption cover is applicable, we would pay the bedding manufacturer’s impact on business costs arising from an outage at the external supplier’s business.
Socially Engineered Theft 1st Party LossClaim scenario
An accountant’s employee receives a request from a regular supplier’s email address for payment of an outstanding invoice. The employee pays the supplier in good faith and in reliance upon the received invoice.
It turns out the supplier’s invoicing system was hacked and the supplier’s bank account details were changed to the hacker’s account. The paid amount is unrecoverable as a result.Cyber event protection solution
If the accountant’s policy includes Optional Cover for Criminal Financial Loss, including Socially Engineered Theft, the direct financial loss to the accountant is covered, including investigation costs.
Socially Engineered Theft 1st Party LossClaim scenario
A medical centre received communications from a fraudster impersonating the ATO and requiring urgent payment of outstanding taxes.
The medical centre paid the ‘outstanding’ taxes in good faith, believing the demand was genuine.Cyber event protection solution
If Criminal Financial Loss coverage, including Socially Engineered Theft, is applicable, the lost funds are covered, including investigation costs.
Cyber Theft Business e-mail CompromiseClaim scenario
A CFO received a fraudulent email from the CEO, whose email account had been compromised due to a Cyber Event, requesting the transfer of a large sum of money. The email convinced the CFO to transfer money to a third party bank account. Later it was determined that the email was not authored by the CEO, but it was too late for the bank to stop the transfer.Cyber event protection solution
Cyber Event Protection will cover forensic investigation of the crime and response costs to remove the threat and secure the email system.
If Cyber Theft coverage is applicable, the direct financial loss the insured suffered also will be covered.
Telephone PhreakingClaim scenario
A marketing firm’s phone system gets hacked. The hacker creates a mailbox to route calls overseas. The unauthorised international calls result in thousands of dollars in call charges.Cyber event protection solution
The policy covers the cost to investigate and remove the threat to the firm’s telephone system. Our optional Cyber Theft and Telephone Phreaking Cover pays the direct financial loss to the insured.
An insured noticed its computers running slower than usual. Upon further investigation, someone has hacked into its IT infrastructure to use the processing power to mine cryptocurrency.Cyber event protection solution
Cyber Event Protection will cover response costs to remove the virus.
If Criminal Financial Loss coverage is applicable, the increased bandwidth and electricity costs are also covered.
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